Mueller Industries, Inc. $MLI Position Increased by Systematic Financial Management LP

Key Points

• Systematic Financial Management LP has increased its position in Mueller Industries by 1.0% in Q1, holding 957,113 shares, making it the 2nd largest position in their portfolio.
• Mueller Industries reported a quarterly earnings per share of $1.96, exceeding analysts' expectations by $0.34, with revenues rising 14.1% year-over-year to $1.14 billion.
• The company announced a quarterly dividend of $0.25 per share, with an ex-dividend date of September 5th, representing an annualized yield of 1.1%.

Systematic Financial Management LP raised its position in Mueller Industries, Inc. (NYSE:MLI - Free Report) by 1.0% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 957,113 shares of the industrial products company's stock after purchasing an additional 9,463 shares during the quarter. Mueller Industries accounts for approximately 2.1% of Systematic Financial Management LP's portfolio, making the stock its 2nd largest position. Systematic Financial Management LP owned about 0.86% of Mueller Industries worth $72,875,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Invesco Ltd. raised its position in Mueller Industries by 0.4% in the first quarter. Invesco Ltd. now owns 2,799,575 shares of the industrial products company's stock valued at $213,160,000 after purchasing an additional 10,968 shares during the period. Northern Trust Corp raised its position in Mueller Industries by 28.3% in the fourth quarter. Northern Trust Corp now owns 1,535,625 shares of the industrial products company's stock valued at $121,867,000 after purchasing an additional 338,902 shares during the period. Caisse DE Depot ET Placement DU Quebec raised its position in Mueller Industries by 169.1% in the fourth quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,058,830 shares of the industrial products company's stock valued at $84,029,000 after purchasing an additional 665,413 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Mueller Industries by 5.7% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 845,344 shares of the industrial products company's stock valued at $67,087,000 after purchasing an additional 45,672 shares during the period. Finally, Nuveen LLC purchased a new stake in Mueller Industries in the first quarter valued at approximately $54,072,000. Hedge funds and other institutional investors own 94.50% of the company's stock.

Insider Buying and Selling at Mueller Industries

In other news, Director John B. Hansen sold 1,000 shares of the company's stock in a transaction 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. This represents a 1.07% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 2.70% of the company's stock.

Mueller Industries Trading Up 3.9%

Mueller Industries stock opened at $94.2090 on Friday. Mueller Industries, Inc. has a twelve month low of $65.24 and a twelve month high of $96.81. The stock's fifty day simple moving average is $84.81 and its 200-day simple moving average is $79.71. The firm has a market capitalization of $10.43 billion, a P/E ratio of 14.95 and a beta of 1.02.

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

Mueller Industries Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 19th. Stockholders of record on Friday, September 5th will be given 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 is currently 15.87%.

Mueller Industries Company 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.

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