GSA Capital Partners LLP Acquires Shares of 9,445 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 bought a new stake in Mueller Industries, Inc. (NYSE:MLI - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund bought 9,445 shares of the industrial products company's stock, valued at approximately $719,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in MLI. D.A. Davidson & CO. acquired a new position in shares of Mueller Industries during the first quarter valued at about $317,000. Fifth Third Bancorp increased its holdings in shares of Mueller Industries by 6.1% during the first quarter. Fifth Third Bancorp now owns 3,701 shares of the industrial products company's stock valued at $282,000 after acquiring an additional 213 shares in the last quarter. SG Americas Securities LLC acquired a new position in shares of Mueller Industries during the first quarter valued at about $303,000. Chevy Chase Trust Holdings LLC acquired a new position in shares of Mueller Industries during the first quarter valued at about $4,140,000. Finally, KBC Group NV boosted its position in Mueller Industries by 391.3% in the first quarter. KBC Group NV now owns 20,575 shares of the industrial products company's stock valued at $1,567,000 after buying an additional 16,387 shares during the last quarter. Hedge funds and other institutional investors own 94.50% of the company's stock.

Mueller Industries Stock Performance

NYSE MLI traded up $1.71 during trading hours on Monday, reaching $85.05. The stock had a trading volume of 897,708 shares, compared to its average volume of 1,030,771. The stock has a fifty day moving average of $80.86 and a 200 day moving average of $78.62. The stock has a market cap of $9.42 billion, a P/E ratio of 13.50 and a beta of 1.02. Mueller Industries, Inc. has a 52-week low of $62.74 and a 52-week high of $96.81.

Mueller Industries (NYSE:MLI - Get Free Report) last issued its earnings results 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. The firm had revenue of $1.14 billion for the quarter, compared to analyst estimates of $1.12 billion. Mueller Industries had a return on equity of 24.47% and a net margin of 17.48%. The company's quarterly revenue was up 14.1% on a year-over-year basis.

Mueller Industries Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 19th. Shareholders of record on Friday, September 5th will be issued 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 yield of 1.2%. Mueller Industries's payout ratio is presently 15.87%.

Insiders Place Their Bets

In other news, Director Terry Hermanson sold 10,000 shares of the company's stock in a transaction that occurred on Tuesday, May 6th. The stock was sold at an average price of $74.34, for a total transaction of $743,400.00. Following the completion of the transaction, the director directly owned 100,082 shares of the company's stock, valued at $7,440,095.88. This represents a 9.08% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director John B. Hansen sold 3,130 shares of the company's stock in a transaction that occurred 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 transaction, the director directly owned 93,914 shares of the company's stock, valued at approximately $7,331,865.98. The trade was a 3.23% decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.70% of the stock is currently owned by insiders.

About Mueller Industries

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.