AE Wealth Management LLC Has $1.44 Million Stock Holdings in Mueller Industries, Inc. (NYSE:MLI)

Key Points

• AE Wealth Management LLC increased its holdings in Mueller Industries, Inc. by 198.8% during the first quarter, owning 18,846 shares valued at $1,435,000.
• Several institutional investors adjusted their positions in Mueller Industries, with notable increases from First Trust Advisors LP (5.6%), Invesco Ltd. (50.3%), and FMR LLC (79.2%) during the fourth quarter.
• Mueller Industries reported a quarterly EPS of $1.96, exceeding analyst estimates, with a year-over-year revenue increase of 14.1% to $1.14 billion.

AE Wealth Management LLC increased its stake in Mueller Industries, Inc. (NYSE:MLI - Free Report) by 198.8% during the first quarter, according to its most recent filing with the SEC. The fund owned 18,846 shares of the industrial products company's stock after buying an additional 12,539 shares during the quarter. AE Wealth Management LLC's holdings in Mueller Industries were worth $1,435,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Golden State Wealth Management LLC lifted its position in Mueller Industries by 103.1% during the first quarter. Golden State Wealth Management LLC now owns 331 shares of the industrial products company's stock valued at $25,000 after buying an additional 168 shares during the period. New Age Alpha Advisors LLC bought a new position in shares of Mueller Industries during the 4th quarter valued at approximately $32,000. Wayfinding Financial LLC bought a new position in shares of Mueller Industries during the 1st quarter worth $34,000. Opal Wealth Advisors LLC bought a new stake in Mueller Industries during the first quarter valued at about $40,000. Finally, Quarry LP purchased a new position in shares of Mueller Industries in the fourth quarter worth about $45,000. 94.50% of the stock is owned by hedge funds and other institutional investors.

Mueller Industries Stock Performance

Shares of NYSE:MLI traded down $1.47 during trading on Thursday, reaching $86.03. The stock had a trading volume of 232,655 shares, compared to its average volume of 1,025,597. The business has a fifty day moving average price of $80.52 and a 200-day moving average price of $78.60. The stock has a market cap of $9.52 billion, a PE ratio of 13.64 and a beta of 1.01. Mueller Industries, Inc. has a 1-year low of $62.74 and a 1-year high of $96.81.

Mueller Industries (NYSE:MLI - Get Free Report) last released its quarterly earnings data 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 during 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%. The firm's quarterly revenue was up 14.1% on a year-over-year basis.

Mueller Industries Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 20th. Shareholders of record on Friday, June 6th were given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.16%. The ex-dividend date of this dividend was Friday, June 6th. Mueller Industries's dividend payout ratio (DPR) is presently 15.87%.

Insider Transactions at Mueller Industries

In other Mueller Industries news, Director Terry Hermanson sold 10,000 shares of the business's stock in a transaction on Tuesday, May 6th. The shares were sold at an average price of $74.34, for a total transaction of $743,400.00. Following the completion of the transaction, the director owned 100,082 shares of the company's stock, valued at $7,440,095.88. The trade was a 9.08% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director John B. Hansen sold 3,130 shares of the company's stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $78.07, for a total transaction of $244,359.10. Following the transaction, the director directly owned 93,914 shares of the company's stock, valued at $7,331,865.98. This represents a 3.23% decrease in their position. The disclosure for this sale can be found here. 2.70% of the stock is currently owned by insiders.

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.