Integrated Wealth Concepts LLC Decreases Stock Position in Mueller Industries, Inc. $MLI

Key Points

• Integrated Wealth Concepts LLC has reduced its stake in Mueller Industries by 8.0%, now holding 42,679 shares worth approximately $3.25 million.
• Mueller Industries has shown strong quarterly earnings, reporting $1.96 EPS and $1.14 billion in revenue, exceeding analysts' expectations.
• The company declared a quarterly dividend of $0.25 per share, reflecting an annualized yield of 1.0% and a payout ratio of 15.87%.

Integrated Wealth Concepts LLC lowered its holdings in Mueller Industries, Inc. (NYSE:MLI - Free Report) by 8.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 42,679 shares of the industrial products company's stock after selling 3,725 shares during the quarter. Integrated Wealth Concepts LLC's holdings in Mueller Industries were worth $3,250,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Golden State Wealth Management LLC grew its position in Mueller Industries by 103.1% during the 1st quarter. Golden State Wealth Management LLC now owns 331 shares of the industrial products company's stock worth $25,000 after purchasing an additional 168 shares during the period. Brooklyn Investment Group boosted its stake in shares of Mueller Industries by 267.3% in the first quarter. Brooklyn Investment Group now owns 382 shares of the industrial products company's stock worth $29,000 after buying an additional 278 shares during the last quarter. Wayfinding Financial LLC acquired a new stake in Mueller Industries during the first quarter worth about $34,000. Opal Wealth Advisors LLC purchased a new position in Mueller Industries during the first quarter valued at approximately $40,000. Finally, Point72 Hong Kong Ltd acquired a new position in Mueller Industries in the fourth quarter valued at approximately $53,000. 94.50% of the stock is currently owned by institutional investors and hedge funds.

Mueller Industries Trading Up 0.7%

Mueller Industries stock traded up $0.72 during mid-day trading on Friday, hitting $99.59. The company had a trading volume of 528,336 shares, compared to its average volume of 982,750. The company has a market capitalization of $11.02 billion, a price-to-earnings ratio of 15.81 and a beta of 1.05. Mueller Industries, Inc. has a 12-month low of $66.84 and a 12-month high of $99.93. The company's fifty day moving average is $90.11 and its 200-day moving average is $81.26.

Mueller Industries (NYSE:MLI - Get Free Report) last posted its earnings results on Tuesday, July 22nd. The industrial products company reported $1.96 earnings per share for the quarter, beating the consensus estimate of $1.62 by $0.34. Mueller Industries had a net margin of 17.48% and a return on equity of 24.47%. The firm had revenue of $1.14 billion during the quarter, compared to analyst estimates of $1.12 billion. Mueller Industries's revenue for the quarter was up 14.1% on a year-over-year basis.

Mueller Industries Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 19th. Stockholders of record on Friday, September 5th will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.0%. The ex-dividend date of this dividend is Friday, September 5th. Mueller Industries's dividend payout ratio is presently 15.87%.

Insider Activity at Mueller Industries

In related news, Director John B. Hansen sold 1,000 shares of Mueller Industries stock in a transaction dated Tuesday, August 12th. The stock was sold at an average price of $91.97, for a total value of $91,970.00. Following the completion of the transaction, the director owned 92,664 shares in the company, valued at $8,522,308.08. The trade was a 1.07% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 2.70% of the stock is owned by company 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.