GSA Capital Partners LLP Invests $719,000 in Mueller Industries, Inc. (NYSE:MLI)

Key Points

• GSA Capital Partners LLP has invested approximately $719,000 in Mueller Industries by acquiring 9,445 shares during the first quarter of the year.
• Multiple institutional investors increased their stakes in Mueller Industries, with Federated Hermes Inc. boosting its position by 145.1% to now hold 28,849 shares worth $2.2 million.
• Mueller Industries reported a quarterly earnings per share (EPS) of $1.96, exceeding expectations, and announced a $0.25 quarterly dividend to be paid on September 19th, with a payout ratio of 15.87%.

GSA Capital Partners LLP acquired a new stake in Mueller Industries, Inc. (NYSE:MLI - Free Report) in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 9,445 shares of the industrial products company's stock, valued at approximately $719,000.

Other large investors have also made changes to their positions in the company. First Trust Advisors LP increased its stake in Mueller Industries by 5.6% during the 4th quarter. First Trust Advisors LP now owns 6,214,930 shares of the industrial products company's stock worth $493,217,000 after buying an additional 327,479 shares in the last quarter. Invesco Ltd. increased its position in shares of Mueller Industries by 50.3% during the fourth quarter. Invesco Ltd. now owns 2,788,607 shares of the industrial products company's stock worth $221,304,000 after purchasing an additional 933,498 shares in the last quarter. Geode Capital Management LLC raised its stake in Mueller Industries by 4.5% in the 4th quarter. Geode Capital Management LLC now owns 2,705,588 shares of the industrial products company's stock valued at $214,763,000 after purchasing an additional 117,327 shares during the last quarter. FMR LLC raised its stake in Mueller Industries by 79.2% in the 4th quarter. FMR LLC now owns 1,911,689 shares of the industrial products company's stock valued at $151,712,000 after purchasing an additional 845,031 shares during the last quarter. Finally, Northern Trust Corp lifted its holdings in Mueller Industries by 28.3% in the 4th quarter. Northern Trust Corp now owns 1,535,625 shares of the industrial products company's stock valued at $121,867,000 after purchasing an additional 338,902 shares in the last quarter. 94.50% of the stock is owned by institutional investors and hedge funds.

Mueller Industries Stock Down 0.3%

Shares of Mueller Industries stock traded down $0.29 during trading hours on Wednesday, reaching $87.09. 199,200 shares of the company's stock were exchanged, compared to its average volume of 1,025,016. The business has a fifty day moving average of $81.22 and a two-hundred day moving average of $78.70. The company has a market capitalization of $9.64 billion, a P/E ratio of 13.80 and a beta of 1.02. Mueller Industries, Inc. has a 1 year low of $65.24 and a 1 year high of $96.81.

Mueller Industries (NYSE:MLI - Get Free Report) last released its quarterly earnings data on Tuesday, July 22nd. The industrial products company reported $1.96 EPS for the quarter, beating 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 business also recently disclosed a quarterly dividend, which will be paid on Friday, September 19th. Shareholders of record on Friday, September 5th will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Friday, September 5th. This represents a $1.00 dividend on an annualized basis and a yield of 1.1%. Mueller Industries's payout ratio is 15.87%.

Insiders Place Their Bets

In other Mueller Industries news, Director John B. Hansen sold 3,130 shares of the firm's stock in a transaction on Monday, May 12th. The stock was sold at an average price of $78.07, for a total value of $244,359.10. Following the completion of the sale, the director directly owned 93,914 shares of the company's stock, valued at $7,331,865.98. This trade represents a 3.23% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 2.70% of the company's stock.

Mueller Industries Company 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.