Townsquare Capital LLC Has $632,000 Position in Mueller Industries, Inc. $MLI

Key Points

• Townsquare Capital LLC reduced its stake in Mueller Industries by 42.1%, selling 6,030 shares, leaving it with 8,305 shares valued at approximately $632,000.
• Mueller Industries recently declared a quarterly dividend of $0.25, with an annualized yield of 1.1%, to be paid on September 19th.
• The company's latest earnings report showed earnings per share of $1.96, beating estimates by $0.34, and a revenue increase of 14.1% year-over-year.

Townsquare Capital LLC lowered its holdings in Mueller Industries, Inc. (NYSE:MLI - Free Report) by 42.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,305 shares of the industrial products company's stock after selling 6,030 shares during the period. Townsquare Capital LLC's holdings in Mueller Industries were worth $632,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Golden State Wealth Management LLC grew its position in Mueller Industries by 103.1% in the first quarter. Golden State Wealth Management LLC now owns 331 shares of the industrial products company's stock valued at $25,000 after purchasing an additional 168 shares in the last quarter. Wayfinding Financial LLC bought a new position in Mueller Industries in the first quarter valued at $34,000. Opal Wealth Advisors LLC bought a new position in Mueller Industries in the first quarter valued at $40,000. Quarry LP bought a new position in Mueller Industries in the fourth quarter valued at $45,000. Finally, Point72 Hong Kong Ltd bought a new position in Mueller Industries in the fourth quarter valued at $53,000. Institutional investors own 94.50% of the company's stock.

Mueller Industries Stock Performance

Mueller Industries stock traded down $1.0690 during mid-day trading on Thursday, reaching $90.5910. The company's stock had a trading volume of 920,040 shares, compared to its average volume of 893,892. The company has a market capitalization of $10.03 billion, a price-to-earnings ratio of 14.38 and a beta of 1.02. Mueller Industries, Inc. has a 12 month low of $65.24 and a 12 month high of $96.81. The business's 50 day simple moving average is $84.41 and its 200 day simple moving average is $79.59.

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

Mueller Industries Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, September 19th. Shareholders of record on Friday, September 5th will be paid a $0.25 dividend. The ex-dividend date is Friday, September 5th. This represents a $1.00 dividend on an annualized basis and a yield of 1.1%. Mueller Industries's dividend payout ratio (DPR) is currently 15.87%.

Insider Buying and Selling

In other Mueller Industries news, Director John B. Hansen sold 1,000 shares of the stock in a transaction on Tuesday, August 12th. The shares were sold at an average price of $91.97, for a total value of $91,970.00. Following the completion of the sale, the director owned 92,664 shares in the company, valued at $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 SEC, which is available through this link. 2.70% of the stock is currently owned by corporate 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.