Knights of Columbus Asset Advisors LLC Has $2.09 Million Position in Mueller Industries, Inc. $MLI

Key Points

• Knights of Columbus Asset Advisors LLC increased its holdings in Mueller Industries, Inc. by 17.1%, now owning 26,276 shares worth approximately $2.09 million.
• Mueller Industries reported earnings per share of $1.96 for the last quarter, surpassing analysts' expectations by $0.34 and achieving revenue growth of 14.1% year-over-year.
• The company declared a quarterly dividend of $0.25 per share, with an annualized yield of 1.0% and a low payout ratio of 15.87%.

Knights of Columbus Asset Advisors LLC lifted its holdings in shares of Mueller Industries, Inc. (NYSE:MLI - Free Report) by 17.1% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 26,276 shares of the industrial products company's stock after purchasing an additional 3,838 shares during the quarter. Knights of Columbus Asset Advisors LLC's holdings in Mueller Industries were worth $2,088,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Golden State Wealth Management LLC raised its position in shares of Mueller Industries by 103.1% during the first 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 raised its position in shares of Mueller Industries by 267.3% during the first quarter. Brooklyn Investment Group now owns 382 shares of the industrial products company's stock worth $29,000 after purchasing an additional 278 shares during the period. Rise Advisors LLC acquired a new stake in shares of Mueller Industries during the first quarter worth about $30,000. Wayfinding Financial LLC acquired a new stake in shares of Mueller Industries during the first quarter worth about $34,000. Finally, Opal Wealth Advisors LLC acquired a new stake in shares of Mueller Industries during the first quarter worth about $40,000. Institutional investors and hedge funds own 94.50% of the company's stock.

Mueller Industries Stock Performance

NYSE:MLI opened at $99.78 on Tuesday. The company has a market cap of $11.05 billion, a PE ratio of 15.84 and a beta of 1.02. Mueller Industries, Inc. has a 52-week low of $66.84 and a 52-week high of $102.75. The stock has a 50-day simple moving average of $95.08 and a 200 day simple moving average of $83.68.

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

Mueller Industries Dividend Announcement

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

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reaffirmed a "buy (b)" rating on shares of Mueller Industries in a research report on Saturday, September 27th. Two analysts have rated the stock with a Buy rating, Based on data from MarketBeat, Mueller Industries has an average rating of "Buy" and a consensus target price of $105.00.

Insiders Place Their Bets

In other Mueller Industries 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 value of $91,970.00. Following the completion of the transaction, the director directly owned 92,664 shares in the company, valued at $8,522,308.08. This trade represents a 1.07% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 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.

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