Deutsche Bank AG Buys 39,017 Shares of Mueller Industries, Inc. $MLI

Key Points

• Deutsche Bank AG increased its stake in Mueller Industries by 31.8% during the first quarter, now owning 161,901 shares valued at approximately $12.3 million.
• In the latest quarterly earnings report, Mueller Industries reported an EPS of $1.96, surpassing estimates by $0.34, with revenues of $1.14 billion, a 14.1% increase year-over-year.
• The company announced a $0.25 quarterly dividend, translating to a 1.1% dividend yield, with the ex-dividend date set for September 5th.

Deutsche Bank AG lifted its holdings in shares of Mueller Industries, Inc. (NYSE:MLI - Free Report) by 31.8% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 161,901 shares of the industrial products company's stock after buying an additional 39,017 shares during the period. Deutsche Bank AG owned approximately 0.15% of Mueller Industries worth $12,327,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the company. First Trust Advisors LP boosted its position in Mueller Industries by 5.6% in 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 last quarter. Northern Trust Corp boosted its position in Mueller Industries by 28.3% in 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 last quarter. Caisse DE Depot ET Placement DU Quebec boosted its position in Mueller Industries by 169.1% in 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 last quarter. Systematic Financial Management LP boosted its position in Mueller Industries by 0.9% in 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 last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Mueller Industries by 5.7% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 845,344 shares of the industrial products company's stock worth $67,087,000 after purchasing an additional 45,672 shares during the last quarter. 94.50% of the stock is owned by hedge funds and other institutional investors.

Mueller Industries Stock Up 1.1%

NYSE:MLI traded up $1.0040 on Tuesday, hitting $93.0740. The stock had a trading volume of 100,323 shares, compared to its average volume of 1,010,261. The stock has a market cap of $10.30 billion, a price-to-earnings ratio of 14.77 and a beta of 1.02. The business's 50-day simple moving average is $83.57 and its two-hundred day simple moving average is $79.32. 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 announced its earnings results on Tuesday, July 22nd. The industrial products company reported $1.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.62 by $0.34. The business had revenue of $1.14 billion for the quarter, compared to analysts' expectations 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 Announces Dividend

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

Insider Activity at Mueller Industries

In other news, Director John B. Hansen sold 1,000 shares of the firm's 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 owned 92,664 shares of the company's stock, valued at $8,522,308.08. This trade represents a 1.07% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.70% of the stock is owned by company insiders.

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.