Knights of Columbus Asset Advisors LLC Buys 15,460 Shares of Mueller Industries, Inc. (NYSE:MLI)

Key Points

• Knights of Columbus Asset Advisors LLC increased its stock position in Mueller Industries, Inc. by 221.6%, now holding 22,438 shares valued at approximately $1.7 million.
• Mueller Industries reported earnings per share of $1.96 for the recent quarter, surpassing analyst expectations by $0.34, with a 14.1% increase in year-over-year revenue.
• The company declared a quarterly dividend of $0.25 per share, yielding 1.13% annually, and has an overall payout ratio of 15.87%.

Knights of Columbus Asset Advisors LLC grew its holdings in shares of Mueller Industries, Inc. (NYSE:MLI - Free Report) by 221.6% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 22,438 shares of the industrial products company's stock after acquiring an additional 15,460 shares during the period. Knights of Columbus Asset Advisors LLC's holdings in Mueller Industries were worth $1,708,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the business. Cetera Investment Advisers raised its stake in Mueller Industries by 11.8% during the first quarter. Cetera Investment Advisers now owns 17,581 shares of the industrial products company's stock worth $1,339,000 after buying an additional 1,849 shares during the last quarter. Carnegie Investment Counsel bought a new position in Mueller Industries during the first quarter worth $206,000. AE Wealth Management LLC raised its stake in Mueller Industries by 198.8% during the first quarter. AE Wealth Management LLC now owns 18,846 shares of the industrial products company's stock worth $1,435,000 after buying an additional 12,539 shares during the last quarter. Abel Hall LLC bought a new position in Mueller Industries during the first quarter worth $202,000. Finally, Venturi Wealth Management LLC raised its stake in Mueller Industries by 4.4% during the first quarter. Venturi Wealth Management LLC now owns 180,983 shares of the industrial products company's stock worth $13,780,000 after buying an additional 7,655 shares during the last quarter. Institutional investors own 94.50% of the company's stock.

Insider Buying and Selling

In other Mueller Industries news, Director John B. Hansen sold 3,130 shares of the firm's stock in a transaction on Monday, May 12th. The shares were sold at an average price of $78.07, for a total value of $244,359.10. Following the completion of the transaction, the director directly owned 93,914 shares of the company's stock, valued at $7,331,865.98. This trade represents a 3.23% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Terry Hermanson sold 10,000 shares of the firm's stock in a transaction on Tuesday, May 6th. The shares were sold at an average price of $74.34, for a total transaction of $743,400.00. Following the sale, the director owned 100,082 shares in the company, valued at approximately $7,440,095.88. This trade represents a 9.08% decrease in their position. The disclosure for this sale can be found here. 2.70% of the stock is owned by corporate insiders.

Mueller Industries Stock Up 0.5%

MLI traded up $0.46 during midday trading on Wednesday, hitting $88.38. The company had a trading volume of 178,108 shares, compared to its average volume of 1,023,828. Mueller Industries, Inc. has a 52 week low of $62.74 and a 52 week high of $96.81. The company has a market capitalization of $9.78 billion, a price-to-earnings ratio of 14.03 and a beta of 1.01. The stock's 50 day moving average price is $80.32 and its 200 day moving average price is $78.54.

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, topping analysts' consensus estimates of $1.62 by $0.34. Mueller Industries had a net margin of 17.48% and a return on equity of 24.47%. The company had revenue of $1.14 billion for the quarter, compared to analyst estimates of $1.12 billion. The company's quarterly revenue was up 14.1% compared to the same quarter last year.

Mueller Industries Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, June 20th. Stockholders of record on Friday, June 6th were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.13%. The ex-dividend date was Friday, June 6th. Mueller Industries's dividend payout ratio is currently 15.87%.

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.