Mueller Industries, Inc. $MLI Shares Bought by Kestra Investment Management LLC

Key Points

• Kestra Investment Management LLC increased its position in Mueller Industries, Inc. by 137.1%, now owning 7,221 shares valued at $550,000.
• Mueller Industries reported earnings per share of $1.96 for the last quarter, exceeding estimates by $0.34, with a year-over-year revenue increase of 14.1%.
• The company declared a quarterly dividend of $0.25 per share, set to be paid on September 19, reflecting an annualized dividend of $1.00 and a yield of 1.0%.

Kestra Investment Management LLC grew its holdings in Mueller Industries, Inc. (NYSE:MLI - Free Report) by 137.1% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 7,221 shares of the industrial products company's stock after acquiring an additional 4,176 shares during the quarter. Kestra Investment Management LLC's holdings in Mueller Industries were worth $550,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the business. Dynamic Technology Lab Private Ltd purchased a new position in shares of Mueller Industries in the 1st quarter valued at about $1,096,000. Scientech Research LLC increased its holdings in shares of Mueller Industries by 288.8% in the 1st quarter. Scientech Research LLC now owns 10,316 shares of the industrial products company's stock valued at $785,000 after acquiring an additional 7,663 shares during the last quarter. Rise Advisors LLC purchased a new position in shares of Mueller Industries in the 1st quarter valued at about $30,000. NewEdge Advisors LLC increased its holdings in shares of Mueller Industries by 10.7% in the 1st quarter. NewEdge Advisors LLC now owns 14,722 shares of the industrial products company's stock valued at $1,121,000 after acquiring an additional 1,420 shares during the last quarter. Finally, Millennium Management LLC increased its holdings in shares of Mueller Industries by 2.2% in the 1st quarter. Millennium Management LLC now owns 288,342 shares of the industrial products company's stock valued at $21,954,000 after acquiring an additional 6,148 shares during the last quarter. Hedge funds and other institutional investors own 94.50% of the company's stock.

Mueller Industries Price Performance

Shares of MLI traded up $0.21 during mid-day trading on Friday, reaching $99.08. The company's stock had a trading volume of 1,145,850 shares, compared to its average volume of 698,592. Mueller Industries, Inc. has a 12-month low of $66.84 and a 12-month high of $99.93. The stock has a market cap of $10.97 billion, a PE ratio of 15.73 and a beta of 1.05. The company's 50 day moving average is $90.42 and its 200 day moving average is $81.42.

Mueller Industries (NYSE:MLI - Get Free Report) last released 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 for the quarter, compared to the consensus estimate of $1.12 billion. Mueller Industries had a return on equity of 24.47% and a net margin of 17.48%.The company's quarterly revenue was up 14.1% compared to the same quarter last year.

Mueller Industries Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, September 19th. Investors of record on Friday, September 5th will be paid 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 is Friday, September 5th. Mueller Industries's dividend payout ratio (DPR) is currently 15.87%.

Insider Transactions at Mueller Industries

In related news, Director John B. Hansen sold 1,000 shares of the firm's stock in a transaction that occurred on Tuesday, August 12th. The stock was sold at an average price of $91.97, for a total transaction of $91,970.00. Following the transaction, the director owned 92,664 shares in the company, valued at $8,522,308.08. This trade represents a 1.07% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 2.70% of the stock is owned by corporate insiders.

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.