Martingale Asset Management L P Has $4.04 Million Stake in Mueller Industries, Inc. $MLI

Key Points

• Martingale Asset Management L P reduced its stake in Mueller Industries by 22.2% in Q1, holding 53,078 shares after selling 15,182 shares.
• Mueller Industries reported $1.96 EPS for the latest quarter, exceeding analysts' expectations, with revenue of $1.14 billion, up 14.1% year-over-year.
• The company announced a quarterly dividend of $0.25 per share, with a dividend yield of 1.1%, scheduled for payment on September 19th.

Martingale Asset Management L P reduced its stake in Mueller Industries, Inc. (NYSE:MLI - Free Report) by 22.2% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 53,078 shares of the industrial products company's stock after selling 15,182 shares during the quarter. Martingale Asset Management L P's holdings in Mueller Industries were worth $4,041,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the stock. Brooklyn Investment Group raised its holdings in Mueller Industries by 267.3% in the 1st quarter. Brooklyn Investment Group now owns 382 shares of the industrial products company's stock valued at $29,000 after acquiring an additional 278 shares during the period. Algert Global LLC increased its holdings in shares of Mueller Industries by 5.2% during the first quarter. Algert Global LLC now owns 353,777 shares of the industrial products company's stock worth $26,937,000 after purchasing an additional 17,610 shares during the period. Northwest & Ethical Investments L.P. bought a new position in shares of Mueller Industries during the first quarter worth approximately $509,000. Raymond James Financial Inc. increased its holdings in shares of Mueller Industries by 28.9% during the first quarter. Raymond James Financial Inc. now owns 111,345 shares of the industrial products company's stock worth $8,478,000 after purchasing an additional 24,972 shares during the period. Finally, United Capital Management of KS Inc. increased its holdings in shares of Mueller Industries by 2.8% during 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 purchasing an additional 2,294 shares during the period. 94.50% of the stock is owned by institutional investors.

Mueller Industries Stock Up 0.2%

Shares of MLI traded up $0.2060 during mid-day trading on Monday, hitting $94.5560. 473,716 shares of the company's stock were exchanged, compared to its average volume of 1,005,473. Mueller Industries, Inc. has a 52 week low of $65.24 and a 52 week high of $96.81. The stock's 50-day simple moving average is $84.81 and its 200-day simple moving average is $79.71. The firm has a market cap of $10.47 billion, a price-to-earnings ratio of 15.01 and a beta of 1.02.

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

Mueller Industries Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 19th. Stockholders of record on Friday, September 5th will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Friday, September 5th. This represents a $1.00 annualized dividend and a dividend yield of 1.1%. Mueller Industries's dividend payout ratio (DPR) is currently 15.87%.

Insider Activity

In related 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 transaction of $91,970.00. Following the sale, the director owned 92,664 shares in the company, valued at approximately $8,522,308.08. This trade represents a 1.07% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 2.70% of the company's stock.

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.