Mueller Industries, Inc. (NYSE:MLI) Holdings Lifted by LPL Financial LLC

Key Points

• LPL Financial LLC increased its holdings in Mueller Industries by 3.6% in Q1, owning a total of 166,836 shares valued at approximately $12.7 million.
• Institutional investors collectively own 94.5% of Mueller Industries, with several firms like Invesco Ltd. and FMR LLC significantly boosting their positions during the fourth quarter.
• Mueller Industries reported a successful quarter with earnings per share of $1.96, surpassing estimates, and announced a $0.25 quarterly dividend set to be paid on September 19th.

LPL Financial LLC increased its holdings in shares of Mueller Industries, Inc. (NYSE:MLI - Free Report) by 3.6% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 166,836 shares of the industrial products company's stock after buying an additional 5,795 shares during the quarter. LPL Financial LLC owned 0.15% of Mueller Industries worth $12,703,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of MLI. Invesco Ltd. boosted its position in Mueller Industries by 50.3% during the fourth quarter. Invesco Ltd. now owns 2,788,607 shares of the industrial products company's stock valued at $221,304,000 after purchasing an additional 933,498 shares during the last quarter. FMR LLC boosted its position in Mueller Industries by 79.2% during the fourth quarter. FMR LLC now owns 1,911,689 shares of the industrial products company's stock valued at $151,712,000 after purchasing an additional 845,031 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec boosted its position in Mueller Industries by 169.1% during the fourth quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,058,830 shares of the industrial products company's stock valued at $84,029,000 after purchasing an additional 665,413 shares during the last quarter. SG Capital Management LLC acquired a new stake in Mueller Industries during the fourth quarter valued at $34,704,000. Finally, Northern Trust Corp boosted its position in Mueller Industries by 28.3% during the fourth quarter. Northern Trust Corp now owns 1,535,625 shares of the industrial products company's stock valued at $121,867,000 after purchasing an additional 338,902 shares during the last quarter. Institutional investors and hedge funds own 94.50% of the company's stock.

Insiders Place Their Bets

In related news, Director John B. Hansen sold 3,130 shares of the business's stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $78.07, for a total value of $244,359.10. Following the completion of the sale, the director directly owned 93,914 shares in the company, valued at approximately $7,331,865.98. The trade was a 3.23% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 2.70% of the company's stock.

Mueller Industries Stock Performance

MLI opened at $88.21 on Friday. The company has a market cap of $9.76 billion, a PE ratio of 14.00 and a beta of 1.02. The stock has a 50-day moving average of $81.63 and a 200-day moving average of $78.80. Mueller Industries, Inc. has a 52-week low of $65.24 and a 52-week high of $96.81.

Mueller Industries (NYSE:MLI - Get Free Report) last posted its earnings results on Tuesday, July 22nd. The industrial products company reported $1.96 earnings per share for the quarter, topping the consensus estimate of $1.62 by $0.34. Mueller Industries had a return on equity of 24.47% and a net margin of 17.48%. The firm had revenue of $1.14 billion during the quarter, compared to analyst estimates of $1.12 billion. The firm's revenue for the quarter was up 14.1% on a year-over-year basis.

Mueller Industries Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, September 19th. Investors of record on Friday, September 5th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.1%. The ex-dividend date is Friday, September 5th. Mueller Industries's payout ratio is 15.87%.

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.

Want to see what other hedge funds are holding MLI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Mueller Industries, Inc. (NYSE:MLI - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.