GW Henssler & Associates Ltd. Buys Shares of 2,605 Mueller Industries, Inc. $MLI

Key Points

• GW Henssler & Associates Ltd. acquired 2,605 shares of Mueller Industries, Inc. valued at approximately $207,000 during the second quarter.
• Mueller Industries reported $1.96 earnings per share for the last quarter, exceeding analyst expectations, with revenues of $1.14 billion—a 14.1% year-over-year increase.
• The company announced a quarterly dividend of $0.25, resulting in an annualized dividend yield of 1.0% and a payout ratio of 15.87%.

GW Henssler & Associates Ltd. bought a new stake in shares of Mueller Industries, Inc. (NYSE:MLI - Free Report) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 2,605 shares of the industrial products company's stock, valued at approximately $207,000.

A number of other hedge funds have also added to or reduced their stakes in the stock. Invesco Ltd. grew its holdings in Mueller Industries by 0.4% during the 1st quarter. Invesco Ltd. now owns 2,799,575 shares of the industrial products company's stock valued at $213,160,000 after buying an additional 10,968 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec grew its holdings in Mueller Industries by 15.7% during the 1st quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,224,842 shares of the industrial products company's stock valued at $93,259,000 after buying an additional 166,012 shares in the last quarter. Systematic Financial Management LP grew its holdings in Mueller Industries by 1.0% during the 1st quarter. Systematic Financial Management LP now owns 957,113 shares of the industrial products company's stock valued at $72,875,000 after buying an additional 9,463 shares in the last quarter. Nuveen LLC purchased a new position in Mueller Industries during the 1st quarter valued at about $54,072,000. Finally, Epoch Investment Partners Inc. grew its holdings in Mueller Industries by 222.8% during the 1st quarter. Epoch Investment Partners Inc. now owns 597,704 shares of the industrial products company's stock valued at $45,509,000 after buying an additional 412,564 shares in the last quarter. Hedge funds and other institutional investors own 94.50% of the company's stock.

Mueller Industries Price Performance

Shares of MLI opened at $96.88 on Monday. The firm has a market cap of $10.72 billion, a P/E ratio of 15.38 and a beta of 1.02. The stock has a 50 day simple moving average of $96.08 and a two-hundred day simple moving average of $84.23. Mueller Industries, Inc. has a 1 year low of $66.84 and a 1 year high of $102.75.

Mueller Industries (NYSE:MLI - Get Free Report) last issued its earnings results on Tuesday, July 22nd. The industrial products company reported $1.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.62 by $0.34. The business had revenue of $1.14 billion during 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 announced a quarterly dividend, which was paid on Friday, September 19th. Stockholders of record on Friday, September 5th were issued a $0.25 dividend. The ex-dividend date was Friday, September 5th. This represents a $1.00 annualized dividend and a dividend yield of 1.0%. Mueller Industries's dividend payout ratio (DPR) is currently 15.87%.

Insider Activity

In other news, Director John B. Hansen sold 1,000 shares of the firm's stock in a transaction that occurred on Tuesday, August 12th. The shares were sold at an average price of $91.97, for a total value of $91,970.00. Following the transaction, the director owned 92,664 shares in the company, valued at approximately $8,522,308.08. This trade represents a 1.07% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 2.70% of the company's stock.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reaffirmed a "buy (b)" rating on shares of Mueller Industries in a report on Wednesday, October 8th. Two analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company has a consensus rating of "Buy" and a consensus price target of $105.00.

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.

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