Mueller Industries, Inc. $MLI Shares Purchased 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 boosted 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 Securities and Exchange Commission. The fund owned 7,221 shares of the industrial products company's stock after buying an additional 4,176 shares during the period. 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 recently added to or reduced their stakes in MLI. Nuveen LLC acquired a new stake in Mueller Industries in the 1st quarter worth about $54,072,000. AQR Capital Management LLC boosted its stake in Mueller Industries by 329.0% in the 1st quarter. AQR Capital Management LLC now owns 588,428 shares of the industrial products company's stock worth $43,926,000 after buying an additional 451,261 shares during the last quarter. SG Capital Management LLC acquired a new stake in Mueller Industries in the 4th quarter worth about $34,704,000. Epoch Investment Partners Inc. boosted its stake in Mueller Industries by 222.8% in the 1st quarter. Epoch Investment Partners Inc. now owns 597,704 shares of the industrial products company's stock worth $45,509,000 after buying an additional 412,564 shares during the last quarter. Finally, Janus Henderson Group PLC boosted its stake in Mueller Industries by 202.1% in the 4th quarter. Janus Henderson Group PLC now owns 438,348 shares of the industrial products company's stock worth $34,801,000 after buying an additional 293,245 shares during the last quarter. 94.50% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Mueller Industries

In other news, Director John B. Hansen sold 1,000 shares of Mueller Industries stock in a transaction dated Tuesday, August 12th. The stock was 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 transaction was disclosed in a document filed with the SEC, which is available at this link. 2.70% of the stock is owned by corporate insiders.

Mueller Industries Price Performance

NYSE: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 986,544. The company's fifty day simple moving average is $90.11 and its two-hundred day simple moving average is $81.26. Mueller Industries, Inc. has a twelve month low of $66.84 and a twelve month high of $99.93. The stock has a market cap of $10.97 billion, a P/E ratio of 15.73 and a beta of 1.05.

Mueller Industries (NYSE:MLI - Get Free Report) last issued 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 analyst estimates of $1.12 billion. Mueller Industries had a return on equity of 24.47% and a net margin of 17.48%.The firm's revenue was up 14.1% on a year-over-year basis.

Mueller Industries Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 19th. Stockholders of record on Friday, September 5th will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.0%. The ex-dividend date of this dividend is Friday, September 5th. Mueller Industries's payout ratio is currently 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.