Algert Global LLC Purchases 17,610 Shares of Mueller Industries, Inc. $MLI

Key Points

• Algert Global LLC increased its stake in Mueller Industries by 5.2%, owning approximately 0.32% of the company valued at $26.9 million as of the last reporting period.
• Mueller Industries reported quarterly earnings of $1.96 per share, exceeding estimates, with a 14.1% year-over-year revenue growth to $1.14 billion.
• The company announced a quarterly dividend of $0.25, with a 1.1% dividend yield and a payout ratio of 15.87%.

Algert Global LLC grew its stake in Mueller Industries, Inc. (NYSE:MLI - Free Report) by 5.2% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 353,777 shares of the industrial products company's stock after purchasing an additional 17,610 shares during the period. Mueller Industries makes up about 0.7% of Algert Global LLC's holdings, making the stock its 2nd largest holding. Algert Global LLC owned approximately 0.32% of Mueller Industries worth $26,937,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also made changes to their positions in the company. D.A. Davidson & CO. purchased a new stake in shares of Mueller Industries in the first quarter valued at approximately $317,000. Fifth Third Bancorp grew its position in Mueller Industries by 6.1% in the first quarter. Fifth Third Bancorp now owns 3,701 shares of the industrial products company's stock worth $282,000 after acquiring an additional 213 shares during the period. SG Americas Securities LLC purchased a new position in Mueller Industries in the first quarter worth approximately $303,000. Chevy Chase Trust Holdings LLC purchased a new position in Mueller Industries in the first quarter worth approximately $4,140,000. Finally, KBC Group NV grew its position in Mueller Industries by 391.3% in the first quarter. KBC Group NV now owns 20,575 shares of the industrial products company's stock worth $1,567,000 after acquiring an additional 16,387 shares during the period. 94.50% of the stock is currently owned by hedge funds and other institutional investors.

Mueller Industries Trading Up 3.7%

Mueller Industries stock traded up $3.36 during mid-day trading on Friday, hitting $94.02. The company's stock had a trading volume of 200,759 shares, compared to its average volume of 1,005,777. The firm has a market capitalization of $10.41 billion, a PE ratio of 14.92 and a beta of 1.02. Mueller Industries, Inc. has a 1 year low of $65.24 and a 1 year high of $96.81. The stock's fifty day moving average is $84.41 and its two-hundred day moving average is $79.59.

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

Mueller Industries Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 19th. Investors of record on Friday, September 5th will be given 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 dividend payout ratio is presently 15.87%.

Insiders Place Their Bets

In related news, Director John B. Hansen sold 1,000 shares of the stock in a transaction that occurred on Tuesday, August 12th. The stock was sold at an average price of $91.97, for a total value of $91,970.00. Following the completion of the transaction, the director directly owned 92,664 shares in the company, valued at approximately $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 SEC, which is accessible through this link. Insiders own 2.70% of the company's stock.

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.