Mueller Industries, Inc. $MLI Shares Purchased by Scientech Research LLC

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

Several other hedge funds have also modified their holdings of MLI. Nuveen LLC purchased a new stake in Mueller Industries in the first quarter valued at approximately $54,072,000. AQR Capital Management LLC increased its position 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 during the last quarter. SG Capital Management LLC acquired a new position in Mueller Industries during the fourth quarter worth approximately $34,704,000. Epoch Investment Partners Inc. increased its position 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 during the last quarter. Finally, Janus Henderson Group PLC increased its position 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 during the last quarter. 94.50% of the stock is owned by institutional investors and hedge funds.

Mueller Industries Price Performance

MLI stock traded up $0.21 on Friday, hitting $99.08. 1,145,850 shares of the company were exchanged, compared to its average volume of 698,592. Mueller Industries, Inc. has a twelve month low of $66.84 and a twelve month high of $99.93. The business's fifty day moving average is $90.42 and its two-hundred day moving average is $81.42. The stock has a market capitalization of $10.97 billion, a price-to-earnings ratio of 15.73 and a beta of 1.04.

Mueller Industries (NYSE:MLI - Get Free Report) last issued its quarterly 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 firm had revenue of $1.14 billion during the quarter, compared to analyst estimates of $1.12 billion. The company's revenue for the quarter was up 14.1% compared to the same quarter last year.

Mueller Industries Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 19th. Shareholders of record on Friday, September 5th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date of this dividend is Friday, September 5th. Mueller Industries's payout ratio is 15.87%.

Insiders Place Their Bets

In other Mueller Industries news, Director John B. Hansen sold 1,000 shares of Mueller Industries 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 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. 2.70% of the stock is currently owned by company 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.