FORA Capital LLC Invests $530,000 in Mueller Industries, Inc. $MLI

Key Points

• FORA Capital LLC has invested approximately $530,000 in Mueller Industries, acquiring 6,960 shares, as disclosed in its recent 13F filing.
• Multiple institutional investors have significantly increased their stakes in Mueller Industries, with Hsbc Holdings PLC boosting its position by 72.9% to 24,050 shares.
• Mueller Industries announced a quarterly dividend of $0.25 per share, reflecting an annualized dividend yield of 1.0% and a payout ratio of 15.87%.

FORA Capital LLC bought a new stake in shares of Mueller Industries, Inc. (NYSE:MLI - Free Report) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 6,960 shares of the industrial products company's stock, valued at approximately $530,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Caisse DE Depot ET Placement DU Quebec increased its stake in shares of Mueller Industries by 15.7% in the 1st quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,224,842 shares of the industrial products company's stock worth $93,259,000 after acquiring an additional 166,012 shares during the last quarter. Oliver Luxxe Assets LLC grew its stake in shares of Mueller Industries by 53.3% during the first quarter. Oliver Luxxe Assets LLC now owns 90,741 shares of the industrial products company's stock worth $6,909,000 after purchasing an additional 31,533 shares in the last quarter. Systematic Financial Management LP grew its stake in shares of Mueller Industries by 1.0% during the first quarter. Systematic Financial Management LP now owns 957,113 shares of the industrial products company's stock worth $72,875,000 after purchasing an additional 9,463 shares in the last quarter. AlphaQuest LLC lifted its holdings in shares of Mueller Industries by 16.7% in the 1st quarter. AlphaQuest LLC now owns 2,343 shares of the industrial products company's stock valued at $178,000 after purchasing an additional 335 shares during the last quarter. Finally, Van Hulzen Asset Management LLC grew its position in shares of Mueller Industries by 4.3% during the first quarter. Van Hulzen Asset Management LLC now owns 9,662 shares of the industrial products company's stock worth $736,000 after acquiring an additional 395 shares during the last quarter. Hedge funds and other institutional investors own 94.50% of the company's stock.

Mueller Industries Price Performance

Shares of NYSE:MLI traded down $0.50 on Tuesday, reaching $95.44. The company's stock had a trading volume of 214,095 shares, compared to its average volume of 993,244. The stock has a market capitalization of $10.57 billion, a P/E ratio of 15.14 and a beta of 1.04. Mueller Industries, Inc. has a 52-week low of $65.24 and a 52-week high of $97.26. The stock's 50-day moving average is $87.47 and its two-hundred day moving average is $80.36.

Mueller Industries (NYSE:MLI - Get Free Report) last announced its quarterly earnings data on Tuesday, July 22nd. The industrial products company reported $1.96 EPS for the quarter, topping analysts' consensus estimates of $1.62 by $0.34. Mueller Industries had a net margin of 17.48% and a return on equity of 24.47%. The company had revenue of $1.14 billion during the quarter, compared to the consensus estimate of $1.12 billion. The company's revenue was up 14.1% on a year-over-year basis.

Mueller Industries Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 19th. Stockholders of record on Friday, September 5th will be given a $0.25 dividend. The ex-dividend date of this dividend is Friday, September 5th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.0%. Mueller Industries's payout ratio is currently 15.87%.

Insider Activity at Mueller Industries

In related news, Director John B. Hansen sold 1,000 shares of the stock in a transaction on Tuesday, August 12th. The stock was sold at an average price of $91.97, for a total value of $91,970.00. Following the transaction, the director directly owned 92,664 shares of the company's stock, valued at approximately $8,522,308.08. This trade represents a 1.07% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 2.70% of the stock is currently owned by corporate insiders.

Mueller Industries Profile

Mueller Industries, Inc manufactures and sells copper, brass, aluminum, and plastic products in the United States, the United Kingdom, Canada, South Korea, the Middle East, China, and Mexico. It operates through three segments: Piping Systems, Industrial Metals, and Climate. The Piping Systems segment offers copper tubes, fittings, line sets, and pipe nipples.