Scientech Research LLC Buys 7,663 Shares of Mueller Industries, Inc. $MLI

Key Points

• Scientech Research LLC significantly increased its stake in Mueller Industries by 288.8%, owning a total of 10,316 shares valued at $785,000 after the purchase.
• Mueller Industries reported $1.96 EPS for the latest quarter, exceeding analyst expectations of $1.62, with revenues up 14.1% year-over-year.
• The company has declared a quarterly dividend of $0.25 per share, with a payout ratio of 15.87%, scheduled for payment on September 19th.

Scientech Research LLC boosted its holdings in Mueller Industries, Inc. (NYSE:MLI - Free Report) by 288.8% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 10,316 shares of the industrial products company's stock after buying an additional 7,663 shares during the period. Scientech Research LLC's holdings in Mueller Industries were worth $785,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Golden State Wealth Management LLC increased its stake in Mueller Industries by 103.1% in the first quarter. Golden State Wealth Management LLC now owns 331 shares of the industrial products company's stock valued at $25,000 after purchasing an additional 168 shares in the last quarter. Brooklyn Investment Group increased its stake in Mueller Industries by 267.3% in the first quarter. Brooklyn Investment Group now owns 382 shares of the industrial products company's stock valued at $29,000 after purchasing an additional 278 shares in the last quarter. Rise Advisors LLC bought a new stake in Mueller Industries in the first quarter valued at approximately $30,000. Wayfinding Financial LLC bought a new stake in Mueller Industries in the first quarter valued at approximately $34,000. Finally, Opal Wealth Advisors LLC bought a new stake in Mueller Industries in the first quarter valued at approximately $40,000. 94.50% of the stock is currently owned by institutional investors and hedge funds.

Mueller Industries Stock Performance

NYSE:MLI traded up $0.21 during trading hours on Friday, hitting $99.08. The stock had a trading volume of 1,145,850 shares, compared to its average volume of 986,544. Mueller Industries, Inc. has a one year low of $66.84 and a one year high of $99.93. The company has a market cap of $10.97 billion, a price-to-earnings ratio of 15.73 and a beta of 1.05. The business's 50 day moving average is $90.11 and its 200-day moving average is $81.26.

Mueller Industries (NYSE:MLI - Get Free Report) last issued its earnings results on Tuesday, July 22nd. The industrial products company reported $1.96 EPS for the quarter, beating 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 firm had revenue of $1.14 billion during the quarter, compared to the consensus estimate of $1.12 billion. The business's revenue was up 14.1% compared to the same quarter last year.

Mueller Industries Dividend Announcement

The business also recently disclosed 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. The ex-dividend date of this dividend is Friday, September 5th. This represents a $1.00 annualized dividend and a dividend yield of 1.0%. Mueller Industries's dividend payout ratio is currently 15.87%.

Insider Activity

In other news, Director John B. Hansen sold 1,000 shares of the stock in a transaction 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 completion of the sale, the director owned 92,664 shares of the company's stock, valued at $8,522,308.08. This represents a 1.07% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 2.70% of the stock is owned by corporate insiders.

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.