Mueller Industries, Inc. $MLI Shares Sold by Villanova Investment Management Co LLC

Key Points

• Villanova Investment Management Co LLC has reduced its position in Mueller Industries, Inc. by 73.6%, now holding 6,195 shares after selling 17,269 shares in the first quarter.
• Mueller Industries reported $1.96 earnings per share for the last quarter, exceeding analysts' expectations of $1.62, with revenue growth of 14.1% year-over-year.
• The company has announced a quarterly dividend of $0.25 per share, set to be paid on September 19th, with an annualized dividend yield of 1.0%.

Villanova Investment Management Co LLC lowered its position in Mueller Industries, Inc. (NYSE:MLI - Free Report) by 73.6% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 6,195 shares of the industrial products company's stock after selling 17,269 shares during the quarter. Villanova Investment Management Co LLC's holdings in Mueller Industries were worth $472,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in MLI. Nuveen LLC purchased a new position in Mueller Industries in the first quarter worth approximately $54,072,000. AQR Capital Management LLC raised its holdings in Mueller Industries by 329.0% during the first quarter. AQR Capital Management LLC now owns 588,428 shares of the industrial products company's stock worth $43,926,000 after purchasing an additional 451,261 shares in the last quarter. SG Capital Management LLC acquired a new stake in Mueller Industries during the fourth quarter worth approximately $34,704,000. Epoch Investment Partners Inc. raised its holdings in Mueller Industries by 222.8% during the first 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 in the last quarter. Finally, Janus Henderson Group PLC raised its holdings in Mueller Industries by 202.1% during the fourth quarter. Janus Henderson Group PLC now owns 438,348 shares of the industrial products company's stock worth $34,801,000 after purchasing an additional 293,245 shares in the last quarter. Hedge funds and other institutional investors own 94.50% of the company's stock.

Insider Activity at Mueller Industries

In other news, Director John B. Hansen sold 1,000 shares of Mueller Industries stock in a transaction 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 transaction, 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 legal filing with the SEC, which is available through this link. 2.70% of the stock is owned by insiders.

Mueller Industries Stock Performance

MLI stock traded down $0.68 during midday trading on Tuesday, reaching $98.15. 208,509 shares of the company were exchanged, compared to its average volume of 981,126. Mueller Industries, Inc. has a 1-year low of $66.84 and a 1-year high of $99.93. The stock's 50-day simple moving average is $90.75 and its 200 day simple moving average is $81.55. The company has a market cap of $10.86 billion, a price-to-earnings ratio of 15.56 and a beta of 1.04.

Mueller Industries (NYSE:MLI - Get Free Report) last released its quarterly earnings data on Tuesday, July 22nd. The industrial products company reported $1.96 earnings per share 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 company had revenue of $1.14 billion for the quarter, compared to analysts' expectations of $1.12 billion. The company's revenue was up 14.1% on a year-over-year basis.

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 $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date of this dividend is Friday, September 5th. Mueller Industries's payout ratio is presently 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.