Voya Investment Management LLC Sells 3,322 Shares of Mueller Industries, Inc. $MLI

Key Points

• Voya Investment Management LLC reduced its stake in Mueller Industries by 10%, owning 29,913 shares valued at approximately $2.28 million after selling 3,322 shares in the first quarter.
• Mueller Industries reported quarterly earnings of $1.96 per share, exceeding analyst expectations of $1.62, with a revenue of $1.14 billion.
• The company recently declared a quarterly dividend of $0.25 per share, with a yield of 1.0% and a dividend payout ratio of 15.87%.

Voya Investment Management LLC reduced its position in Mueller Industries, Inc. (NYSE:MLI - Free Report) by 10.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 29,913 shares of the industrial products company's stock after selling 3,322 shares during the quarter. Voya Investment Management LLC's holdings in Mueller Industries were worth $2,278,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Nuveen LLC acquired a new position in shares of Mueller Industries during the first quarter worth approximately $54,072,000. AQR Capital Management LLC raised its holdings in shares of Mueller Industries by 329.0% during the first quarter. AQR Capital Management LLC now owns 588,428 shares of the industrial products company's stock valued at $43,926,000 after acquiring an additional 451,261 shares during the period. Epoch Investment Partners Inc. raised its position in Mueller Industries by 222.8% during the first quarter. Epoch Investment Partners Inc. now owns 597,704 shares of the industrial products company's stock valued at $45,509,000 after buying an additional 412,564 shares during the period. TD Asset Management Inc acquired a new stake in Mueller Industries during the 1st quarter worth about $18,114,000. Finally, Bessemer Group Inc. boosted its position in Mueller Industries by 78.2% during the 1st quarter. Bessemer Group Inc. now owns 443,281 shares of the industrial products company's stock worth $33,751,000 after acquiring an additional 194,463 shares during the period. 94.50% of the stock is owned by institutional investors.

Mueller Industries Trading Up 1.3%

NYSE MLI traded up $1.33 during trading on Monday, reaching $100.99. 776,785 shares of the company's stock were exchanged, compared to its average volume of 846,499. Mueller Industries, Inc. has a fifty-two week low of $66.84 and a fifty-two week high of $101.33. The firm has a market capitalization of $11.18 billion, a PE ratio of 16.03 and a beta of 1.04. The company's fifty day simple moving average is $92.20 and its 200-day simple moving average is $82.24.

Mueller Industries (NYSE:MLI - Get Free Report) last posted its quarterly 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 business had revenue of $1.14 billion for the quarter, compared to the consensus estimate of $1.12 billion. The firm's revenue for the quarter was up 14.1% compared to the same quarter last year.

Mueller Industries Announces Dividend

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

Insider Transactions at Mueller Industries

In related news, Director John B. Hansen sold 1,000 shares of the company's stock in a transaction 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 sale, the director directly owned 92,664 shares in the company, valued at approximately $8,522,308.08. This represents a 1.07% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Corporate 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.