Mueller Industries, Inc. $MLI Holdings Lowered by Caitlin John LLC

Key Points

• Caitlin John LLC significantly reduced its stake in Mueller Industries by 65.3% in the first quarter, leaving it with 7,202 shares valued at $548,000.
• Despite some hedge funds decreasing their holdings, others like Golden State Wealth Management increased their investment in Mueller Industries by 103.1% during the same period.
• Mueller Industries recently declared a quarterly dividend of $0.25 per share, with a payout ratio of 15.87% and an annualized yield of 1.1%.

Caitlin John LLC trimmed its stake in shares of Mueller Industries, Inc. (NYSE:MLI - Free Report) by 65.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 7,202 shares of the industrial products company's stock after selling 13,551 shares during the period. Caitlin John LLC's holdings in Mueller Industries were worth $548,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the business. Golden State Wealth Management LLC lifted its stake in Mueller Industries by 103.1% in the 1st quarter. Golden State Wealth Management LLC now owns 331 shares of the industrial products company's stock worth $25,000 after acquiring an additional 168 shares in the last quarter. Benjamin Edwards Inc. lifted its stake in Mueller Industries by 5.0% in the 4th quarter. Benjamin Edwards Inc. now owns 3,934 shares of the industrial products company's stock worth $312,000 after acquiring an additional 187 shares in the last quarter. Hohimer Wealth Management LLC lifted its stake in Mueller Industries by 4.4% in the 1st quarter. Hohimer Wealth Management LLC now owns 4,463 shares of the industrial products company's stock worth $340,000 after acquiring an additional 187 shares in the last quarter. Monument Capital Management lifted its stake in Mueller Industries by 4.4% in the 1st quarter. Monument Capital Management now owns 4,898 shares of the industrial products company's stock worth $373,000 after acquiring an additional 206 shares in the last quarter. Finally, Nebula Research & Development LLC lifted its stake in Mueller Industries by 1.4% in the 4th quarter. Nebula Research & Development LLC now owns 15,085 shares of the industrial products company's stock worth $1,197,000 after acquiring an additional 213 shares in the last quarter. 94.50% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Mueller Industries

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

Mueller Industries Trading Up 3.9%

Shares of Mueller Industries stock opened at $94.2090 on Friday. The stock has a 50-day moving average price of $84.81 and a 200 day moving average price of $79.71. The company has a market cap of $10.43 billion, a P/E ratio of 14.95 and a beta of 1.02. Mueller Industries, Inc. has a 1 year low of $65.24 and a 1 year high of $96.81.

Mueller Industries (NYSE:MLI - Get Free Report) last announced its quarterly earnings data on Tuesday, July 22nd. The industrial products company reported $1.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.62 by $0.34. The firm 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%.The firm's quarterly revenue was up 14.1% on a year-over-year basis.

Mueller Industries Dividend Announcement

The company also recently declared 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. The ex-dividend date of this dividend is Friday, September 5th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.1%. Mueller Industries's dividend payout ratio (DPR) is 15.87%.

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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