Russell Investments Group Ltd. Raises Holdings in Mueller Industries, Inc. $MLI

Key Points

• Russell Investments Group Ltd. increased its stake in Mueller Industries, Inc. (NYSE: MLI) by 12.2%, owning 135,219 shares worth approximately $10.3 million after acquiring additional shares in Q1.
• Institutional investors hold 94.50% of Mueller Industries' stock, reflecting significant interest from multiple hedge funds including Raymond James and MetLife Investment Management.
• Mueller Industries announced a quarterly dividend of $0.25 per share, yielding approximately 1.1%, with the next payment scheduled for September 19th.

Russell Investments Group Ltd. increased its position in Mueller Industries, Inc. (NYSE:MLI - Free Report) by 12.2% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 135,219 shares of the industrial products company's stock after buying an additional 14,690 shares during the period. Russell Investments Group Ltd. owned 0.12% of Mueller Industries worth $10,296,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in MLI. Invesco Ltd. raised its position in shares of Mueller Industries by 0.4% during the 1st quarter. Invesco Ltd. now owns 2,799,575 shares of the industrial products company's stock valued at $213,160,000 after buying an additional 10,968 shares in the last quarter. Northern Trust Corp raised its position in shares of Mueller Industries by 28.3% during the 4th quarter. Northern Trust Corp now owns 1,535,625 shares of the industrial products company's stock valued at $121,867,000 after buying an additional 338,902 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec raised its position in shares of Mueller Industries by 169.1% during the 4th 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 buying an additional 665,413 shares in the last quarter. Systematic Financial Management LP raised its position in shares of Mueller Industries by 0.9% during the 4th quarter. Systematic Financial Management LP now owns 947,650 shares of the industrial products company's stock valued at $75,206,000 after buying an additional 8,308 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Mueller Industries by 5.7% during the 4th 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 buying an additional 45,672 shares in the last quarter. 94.50% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director John B. Hansen sold 1,000 shares of the company's stock in a transaction dated Tuesday, August 12th. The shares were sold at an average price of $91.97, for a total transaction of $91,970.00. Following the transaction, 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 position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 2.70% of the company's stock.

Mueller Industries Stock Up 3.9%

NYSE:MLI traded up $3.5490 during mid-day trading on Friday, hitting $94.2090. 671,390 shares of the stock traded hands, compared to its average volume of 864,484. The stock has a market capitalization of $10.43 billion, a price-to-earnings ratio of 14.95 and a beta of 1.02. Mueller Industries, Inc. has a 52 week low of $65.24 and a 52 week high of $96.81. The firm's 50 day moving average is $84.81 and its two-hundred day moving average is $79.71.

Mueller Industries (NYSE:MLI - Get Free Report) last issued its quarterly earnings results on Tuesday, July 22nd. The industrial products company reported $1.96 EPS for the quarter, beating the consensus estimate of $1.62 by $0.34. The company 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 revenue was up 14.1% compared to the same quarter last year.

Mueller Industries Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 19th. Investors of record on Friday, September 5th will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 1.1%. The ex-dividend date is Friday, September 5th. Mueller Industries's dividend payout ratio is presently 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.