Mueller Industries, Inc. $MLI Shares Sold by HighTower Advisors LLC

Key Points

• HighTower Advisors LLC reduced its holdings in Mueller Industries, Inc. by 11.7%, selling 2,816 shares and taking their total holdings to 21,247 shares valued at $1,618,000.
• Mueller Industries recently announced a quarterly $0.25 dividend with an upcoming ex-dividend date on **September 5th**, representing an annual yield of 1.1%.
• During its last earnings report, Mueller Industries posted earnings of $1.96 per share, exceeding analyst expectations and reporting a 14.1% revenue increase year-over-year.

HighTower Advisors LLC lessened its holdings in Mueller Industries, Inc. (NYSE:MLI - Free Report) by 11.7% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 21,247 shares of the industrial products company's stock after selling 2,816 shares during the period. HighTower Advisors LLC's holdings in Mueller Industries were worth $1,618,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also modified their holdings of the business. Golden State Wealth Management LLC raised its position in Mueller Industries by 103.1% in the 1st quarter. Golden State Wealth Management LLC now owns 331 shares of the industrial products company's stock valued at $25,000 after purchasing an additional 168 shares in the last quarter. Benjamin Edwards Inc. raised its position in Mueller Industries by 5.0% in the 4th quarter. Benjamin Edwards Inc. now owns 3,934 shares of the industrial products company's stock valued at $312,000 after purchasing an additional 187 shares in the last quarter. Hohimer Wealth Management LLC raised its position in Mueller Industries by 4.4% in the 1st quarter. Hohimer Wealth Management LLC now owns 4,463 shares of the industrial products company's stock valued at $340,000 after purchasing an additional 187 shares in the last quarter. Monument Capital Management raised its position in Mueller Industries by 4.4% in the 1st quarter. Monument Capital Management now owns 4,898 shares of the industrial products company's stock valued at $373,000 after purchasing an additional 206 shares in the last quarter. Finally, Nebula Research & Development LLC increased its holdings in shares of Mueller Industries by 1.4% in the 4th quarter. Nebula Research & Development LLC now owns 15,085 shares of the industrial products company's stock valued at $1,197,000 after acquiring an additional 213 shares during the last quarter. Institutional investors and hedge funds own 94.50% of the company's stock.

Mueller Industries Price Performance

Shares of MLI traded down $1.10 during mid-day trading on Friday, reaching $95.40. The company's stock had a trading volume of 273,047 shares, compared to its average volume of 995,302. Mueller Industries, Inc. has a 12-month low of $65.24 and a 12-month high of $97.26. The stock has a market cap of $10.56 billion, a PE ratio of 15.14 and a beta of 1.02. The company's 50 day moving average is $86.64 and its 200 day moving average is $80.15.

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 return on equity of 24.47% and a net margin of 17.48%.The business had revenue of $1.14 billion for the quarter, compared to the consensus estimate of $1.12 billion. The business's revenue was up 14.1% on a year-over-year basis.

Mueller Industries Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, September 19th. Investors of record on Friday, September 5th will be paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date is Friday, September 5th. Mueller Industries's dividend payout ratio (DPR) is currently 15.87%.

Insider Transactions at Mueller Industries

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