Mueller Industries, Inc. $MLI Shares Purchased by Intech Investment Management LLC

Key Points

• Intech Investment Management LLC significantly increased its stake in Mueller Industries, Inc., growing its position by 156.9% to own 146,322 shares worth approximately $11.1 million.
• Mueller Industries reported a strong earnings quarter, with $1.96 earnings per share exceeding estimates and a revenue increase of 14.1% compared to the previous year.
• The company has announced a quarterly dividend of $0.25 per share, with an annualized yield of 1.0%, reflecting a solid dividend payout ratio of 15.87%.

Intech Investment Management LLC raised its holdings in Mueller Industries, Inc. (NYSE:MLI - Free Report) by 156.9% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 146,322 shares of the industrial products company's stock after purchasing an additional 89,361 shares during the quarter. Intech Investment Management LLC owned about 0.13% of Mueller Industries worth $11,141,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. D.A. Davidson & CO. purchased a new stake in Mueller Industries during the first quarter worth about $317,000. Fifth Third Bancorp lifted its stake 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 buying an additional 213 shares during the period. SG Americas Securities LLC purchased a new position in shares of Mueller Industries during the first quarter valued at approximately $303,000. Chevy Chase Trust Holdings LLC purchased a new position in shares of Mueller Industries during the first quarter valued at approximately $4,140,000. Finally, KBC Group NV lifted its stake in shares of Mueller Industries by 391.3% during 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 period. 94.50% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Mueller Industries news, Director John B. Hansen sold 1,000 shares of the stock in a transaction on Tuesday, August 12th. The shares were sold at an average price of $91.97, for a total transaction of $91,970.00. Following the transaction, the director directly owned 92,664 shares in the company, valued at $8,522,308.08. This represents a 1.07% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 2.70% of the stock is owned by company insiders.

Mueller Industries Price Performance

MLI stock traded up $0.21 on Friday, hitting $99.08. 1,145,850 shares of the company were exchanged, compared to its average volume of 670,866. Mueller Industries, Inc. has a twelve month low of $66.84 and a twelve month high of $99.93. The business's fifty day moving average is $90.42 and its two-hundred day moving average is $81.40. The stock has a market capitalization of $10.97 billion, a price-to-earnings ratio of 15.73 and a beta of 1.05.

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

Mueller Industries Dividend Announcement

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. 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 is 15.87%.

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.