Integrated Wealth Concepts LLC Sells 3,725 Shares of 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 trimmed its stake in Mueller Industries, Inc. (NYSE:MLI - Free Report) by 8.0% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor 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 filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently modified their holdings of the company. Benjamin Edwards Inc. boosted its stake in Mueller Industries by 5.0% during the fourth quarter. Benjamin Edwards Inc. now owns 3,934 shares of the industrial products company's stock worth $312,000 after buying an additional 187 shares in the last quarter. Balyasny Asset Management L.P. grew its position in shares of Mueller Industries by 927.5% during the 4th quarter. Balyasny Asset Management L.P. now owns 72,025 shares of the industrial products company's stock worth $5,716,000 after buying an additional 65,015 shares during the period. Cetera Investment Advisers grew its position in shares of Mueller Industries by 20.1% during the 4th quarter. Cetera Investment Advisers now owns 15,732 shares of the industrial products company's stock worth $1,248,000 after buying an additional 2,628 shares during the period. EP Wealth Advisors LLC grew its position in shares of Mueller Industries by 11.7% in the 4th quarter. EP Wealth Advisors LLC now owns 3,701 shares of the industrial products company's stock valued at $294,000 after purchasing an additional 389 shares during the period. Finally, Deutsche Bank AG boosted its position in Mueller Industries by 85.1% during the 4th quarter. Deutsche Bank AG now owns 122,884 shares of the industrial products company's stock worth $9,752,000 after acquiring an additional 56,488 shares during the last quarter. Institutional investors own 94.50% of the company's stock.

Mueller Industries Price Performance

NYSE MLI traded up $0.21 on Friday, hitting $99.08. 1,145,850 shares of the stock were exchanged, compared to its average volume of 670,866. Mueller Industries, Inc. has a 52 week low of $66.84 and a 52 week high of $99.93. The business's fifty day moving average is $90.42 and its 200 day moving average is $81.40. The company has a market capitalization of $10.97 billion, a PE ratio of 15.73 and a beta of 1.05.

Mueller Industries (NYSE:MLI - Get Free Report) last issued its quarterly earnings results on Tuesday, July 22nd. The industrial products company reported $1.96 earnings per share (EPS) for the quarter, topping 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 quarterly 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. Stockholders of record on Friday, September 5th will be paid a $0.25 dividend. The ex-dividend date of this dividend is Friday, September 5th. This represents a $1.00 annualized dividend and a dividend yield of 1.0%. Mueller Industries's dividend payout ratio is 15.87%.

Insider Activity

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 shares were sold at an average price of $91.97, for a total value of $91,970.00. Following the completion of the transaction, the director directly owned 92,664 shares of the company's stock, valued at approximately $8,522,308.08. This trade represents a 1.07% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 2.70% of the stock is currently owned by corporate 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.