Mueller Industries, Inc. $MLI Holdings Decreased by Lingohr Asset Management GmbH

Key Points

• Lingohr Asset Management GmbH has significantly decreased its stake in Mueller Industries by 95.4%, now holding 4,255 shares valued at $338,000 after selling 87,839 shares in the second quarter.
• Mueller Industries recently reported earnings per share (EPS) of $1.96 for the last quarter, surpassing analysts' expectations of $1.62, along with a revenue increase of 14.1% year-over-year.
• The company announced a quarterly dividend of $0.25, translating to a 1.0% yield and a payout ratio of 15.87%, with the payment scheduled for September 19th.

Lingohr Asset Management GmbH lowered its holdings in Mueller Industries, Inc. (NYSE:MLI - Free Report) by 95.4% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,255 shares of the industrial products company's stock after selling 87,839 shares during the period. Lingohr Asset Management GmbH's holdings in Mueller Industries were worth $338,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the business. Gallacher Capital Management LLC bought a new position in Mueller Industries in the second quarter worth about $428,000. Rowlandmiller & PARTNERS.ADV lifted its holdings in shares of Mueller Industries by 3.4% in the 2nd quarter. Rowlandmiller & PARTNERS.ADV now owns 5,560 shares of the industrial products company's stock worth $442,000 after purchasing an additional 185 shares during the last quarter. Strs Ohio bought a new stake in shares of Mueller Industries in the 1st quarter worth approximately $1,980,000. Addison Capital Co lifted its holdings in shares of Mueller Industries by 2.7% in the 1st quarter. Addison Capital Co now owns 52,691 shares of the industrial products company's stock worth $4,012,000 after purchasing an additional 1,366 shares during the last quarter. Finally, Acadian Asset Management LLC bought a new stake in Mueller Industries in the first quarter valued at $524,000. Institutional investors own 94.50% of the company's stock.

Mueller Industries Stock Down 1.1%

MLI stock traded down $1.08 during mid-day trading on Friday, reaching $99.18. The company had a trading volume of 328,319 shares, compared to its average volume of 982,839. The stock has a market capitalization of $10.98 billion, a P/E ratio of 15.74 and a beta of 1.05. Mueller Industries, Inc. has a one year low of $66.84 and a one year high of $100.64. The stock's 50-day simple moving average is $91.63 and its two-hundred day simple moving average is $81.93.

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

Mueller Industries Announces Dividend

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

Insider Buying and Selling at Mueller Industries

In other news, Director John B. Hansen sold 1,000 shares of Mueller Industries stock in a transaction that occurred on Tuesday, August 12th. The stock was sold at an average price of $91.97, for a total transaction of $91,970.00. Following the sale, the director owned 92,664 shares of the company's stock, valued at approximately $8,522,308.08. The trade was a 1.07% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 2.70% of the company's stock.

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.