Mueller Industries, Inc. $MLI Shares Sold by Empowered Funds LLC

Key Points

• Empowered Funds LLC reduced its stake in Mueller Industries by 4.0%, now owning 77,251 shares worth approximately $5.88 million after selling 3,200 shares in the first quarter.
• Other institutional investors increased their stakes, with Epoch Investment Partners Inc. boosting its position by 222.8%, acquiring an additional 412,564 shares, while 94.50% of the company's stock is held by institutional investors and hedge funds.
• Mueller Industries reported a quarterly earnings per share (EPS) of $1.96, exceeding analyst expectations, along with a net margin of 17.48% and announced a dividend of $0.25 per share.

Empowered Funds LLC cut its holdings in shares of Mueller Industries, Inc. (NYSE:MLI - Free Report) by 4.0% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 77,251 shares of the industrial products company's stock after selling 3,200 shares during the period. Empowered Funds LLC owned approximately 0.07% of Mueller Industries worth $5,882,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Invesco Ltd. lifted its position in shares of Mueller Industries by 0.4% in the 1st quarter. Invesco Ltd. now owns 2,799,575 shares of the industrial products company's stock valued at $213,160,000 after acquiring an additional 10,968 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec boosted its stake in Mueller Industries by 15.7% in the 1st quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,224,842 shares of the industrial products company's stock worth $93,259,000 after purchasing an additional 166,012 shares during the period. Systematic Financial Management LP boosted its stake in Mueller Industries by 1.0% in the 1st quarter. Systematic Financial Management LP now owns 957,113 shares of the industrial products company's stock worth $72,875,000 after purchasing an additional 9,463 shares during the period. Nuveen LLC acquired a new position in Mueller Industries in the 1st quarter worth approximately $54,072,000. Finally, Epoch Investment Partners Inc. boosted its stake in Mueller Industries by 222.8% in the 1st quarter. Epoch Investment Partners Inc. now owns 597,704 shares of the industrial products company's stock worth $45,509,000 after purchasing an additional 412,564 shares during the period. 94.50% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Mueller Industries

In other Mueller Industries news, Director John B. Hansen sold 1,000 shares of the stock in a transaction that occurred 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 owned 92,664 shares in the company, valued at $8,522,308.08. This represents a 1.07% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.70% of the stock is currently owned by insiders.

Mueller Industries Stock Performance

Mueller Industries stock opened at $98.92 on Friday. The company has a 50 day moving average price of $90.11 and a 200 day moving average price of $81.26. Mueller Industries, Inc. has a 52 week low of $66.79 and a 52 week high of $99.13. The firm has a market capitalization of $10.95 billion, a price-to-earnings ratio of 15.70 and a beta of 1.05.

Mueller Industries (NYSE:MLI - Get Free Report) last posted its quarterly earnings data on Tuesday, July 22nd. The industrial products company reported $1.96 EPS 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 firm had revenue of $1.14 billion during 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 Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 19th. Investors of record on Friday, September 5th will be paid a $0.25 dividend. The ex-dividend date of this dividend is 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 (DPR) is currently 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.

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