Mueller Industries, Inc. $MLI Holdings Cut by Fuller & Thaler Asset Management Inc.

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

Other hedge funds also recently made changes to their positions in the company. Invesco Ltd. grew its holdings in 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 grew its stake in shares of 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 worth $121,867,000 after acquiring an additional 338,902 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec boosted its position in shares of Mueller Industries by 169.1% during 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 buying an additional 665,413 shares during the last quarter. Systematic Financial Management LP lifted its holdings in Mueller Industries by 0.9% in the fourth quarter. Systematic Financial Management LP now owns 947,650 shares of the industrial products company's stock valued at $75,206,000 after acquiring an additional 8,308 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings 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 acquiring an additional 45,672 shares during the period. 94.50% of the stock is currently owned by institutional investors.

Insider Transactions at Mueller Industries

In other Mueller Industries news, Director John B. Hansen sold 1,000 shares of Mueller Industries stock in a transaction dated 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 sale, the director directly owned 92,664 shares of the company's stock, valued at $8,522,308.08. The trade was a 1.07% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 2.70% of the company's stock.

Mueller Industries Price Performance

Shares of NYSE:MLI traded up $3.5490 during trading on Friday, hitting $94.2090. 671,390 shares of the company's stock were exchanged, compared to its average volume of 1,008,797. The company has a market cap of $10.43 billion, a price-to-earnings ratio of 14.95 and a beta of 1.02. The business's 50-day simple moving average is $84.41 and its 200 day simple moving average is $79.59. Mueller Industries, Inc. has a 52-week low of $65.24 and a 52-week high of $96.81.

Mueller Industries (NYSE:MLI - Get Free Report) last issued its quarterly earnings results on Tuesday, July 22nd. The industrial products company reported $1.96 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.62 by $0.34. The firm had revenue of $1.14 billion during the quarter, compared to analyst estimates of $1.12 billion. Mueller Industries had a return on equity of 24.47% and a net margin of 17.48%.Mueller Industries's quarterly revenue was up 14.1% compared to the same quarter last year.

Mueller Industries Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 19th. Investors of record on Friday, September 5th will be given a $0.25 dividend. 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 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.