Fuller & Thaler Asset Management Inc. Cuts Holdings in Mueller Industries, Inc. $MLI

Key Points

• Fuller & Thaler Asset Management Inc. has significantly reduced its stake in Mueller Industries by **60.1%**, selling over a million shares while still holding about **0.62%** of the company’s stock worth **$51.8 million**.
• Mueller Industries reported **$1.96 earnings per share** for the last quarter, exceeding expectations and showcasing a **14.1%** year-over-year revenue increase, reaching **$1.14 billion**.
• The company declared a quarterly dividend of **$0.25**, with an upcoming payment date of **September 19th**, reflecting an annual yield of **1.1%** and a payout ratio of **15.87%**.

Fuller & Thaler Asset Management Inc. trimmed its holdings in Mueller Industries, Inc. (NYSE:MLI - Free Report) by 60.1% in the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 680,839 shares of the industrial products company's stock after selling 1,027,370 shares during the period. Fuller & Thaler Asset Management Inc. owned approximately 0.62% of Mueller Industries worth $51,839,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the business. Brooklyn Investment Group grew its position in Mueller Industries by 267.3% in the first quarter. Brooklyn Investment Group now owns 382 shares of the industrial products company's stock worth $29,000 after acquiring an additional 278 shares during the period. Algert Global LLC grew its position in Mueller Industries by 5.2% in the first quarter. Algert Global LLC now owns 353,777 shares of the industrial products company's stock worth $26,937,000 after acquiring an additional 17,610 shares during the period. Northwest & Ethical Investments L.P. purchased a new position in Mueller Industries in the first quarter worth approximately $509,000. Raymond James Financial Inc. grew its position in Mueller Industries by 28.9% in the first quarter. Raymond James Financial Inc. now owns 111,345 shares of the industrial products company's stock worth $8,478,000 after acquiring an additional 24,972 shares during the period. Finally, United Capital Management of KS Inc. grew its position in Mueller Industries by 2.8% in the first quarter. United Capital Management of KS Inc. now owns 84,450 shares of the industrial products company's stock worth $6,430,000 after acquiring an additional 2,294 shares during the period. 94.50% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Mueller Industries

In other news, Director John B. Hansen sold 1,000 shares of the firm'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 completion of the transaction, the director directly owned 92,664 shares in the company, valued at $8,522,308.08. This trade represents a 1.07% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 2.70% of the stock is currently owned by corporate insiders.

Mueller Industries Trading Up 3.9%

Mueller Industries stock traded up $3.5490 during mid-day trading on Friday, hitting $94.2090. The company's stock had a trading volume of 671,390 shares, compared to its average volume of 864,484. The firm has a market capitalization of $10.43 billion, a PE 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. The stock's fifty 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 data on Tuesday, July 22nd. The industrial products company reported $1.96 earnings per share for the quarter, topping the consensus estimate of $1.62 by $0.34. Mueller Industries had a return on equity of 24.47% and a net margin of 17.48%.The company had revenue of $1.14 billion during the quarter, compared to analyst estimates of $1.12 billion. Mueller Industries's revenue was up 14.1% compared to the same quarter last year.

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 given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.1%. The ex-dividend date is Friday, September 5th. Mueller Industries's dividend payout ratio (DPR) is currently 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.