Algert Global LLC Grows Position in 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 increased its stake in shares of Mueller Industries, Inc. (NYSE:MLI - Free Report) by 5.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 353,777 shares of the industrial products company's stock after purchasing an additional 17,610 shares during the quarter. Mueller Industries makes up approximately 0.7% of Algert Global LLC's portfolio, making the stock its 2nd largest position. Algert Global LLC owned about 0.32% of Mueller Industries worth $26,937,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in the stock. First Trust Advisors LP boosted its holdings in shares of Mueller Industries by 5.6% during the fourth quarter. First Trust Advisors LP now owns 6,214,930 shares of the industrial products company's stock worth $493,217,000 after purchasing an additional 327,479 shares during the period. Invesco Ltd. boosted its holdings in shares of Mueller Industries by 0.4% during the first quarter. Invesco Ltd. now owns 2,799,575 shares of the industrial products company's stock worth $213,160,000 after purchasing an additional 10,968 shares during the period. Northern Trust Corp boosted its holdings in shares of 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 worth $121,867,000 after purchasing an additional 338,902 shares during the period. Caisse DE Depot ET Placement DU Quebec boosted its holdings in shares of 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 worth $84,029,000 after purchasing an additional 665,413 shares during the period. Finally, Systematic Financial Management LP boosted its holdings in shares of Mueller Industries by 0.9% during the fourth quarter. Systematic Financial Management LP now owns 947,650 shares of the industrial products company's stock worth $75,206,000 after purchasing an additional 8,308 shares during the period. 94.50% of the stock is currently owned by institutional investors and hedge funds.

Mueller Industries Price Performance

MLI traded down $1.0690 during midday trading on Thursday, hitting $90.5910. 920,039 shares of the company's stock traded hands, compared to its average volume of 1,010,911. The company has a market cap of $10.03 billion, a PE ratio of 14.38 and a beta of 1.02. The stock's fifty day simple moving average is $84.12 and its 200-day simple moving average is $79.50. Mueller Industries, Inc. has a one year low of $65.24 and a one year high of $96.81.

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, beating the consensus estimate 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 net margin of 17.48% and a return on equity of 24.47%. The company's revenue was up 14.1% on a year-over-year basis.

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 dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 1.1%. The ex-dividend date of this dividend is Friday, September 5th. Mueller Industries's dividend payout ratio (DPR) is presently 15.87%.

Insiders Place Their Bets

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 shares were 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 of the company's stock, valued at approximately $8,522,308.08. This trade represents a 1.07% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 2.70% of the company's stock.

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.