Navellier & Associates Inc. Sells 5,559 Shares of Mueller Industries, Inc. (NYSE:MLI)

Key Points

• Navellier & Associates Inc. reduced its stake in Mueller Industries by 31.3% during the first quarter, now owning 12,194 shares valued at approximately $917,000.
• Mueller Industries reported a quarterly earnings per share of $1.96, exceeding analysts' expectations of $1.62, with revenue rising 14.1% year-over-year to $1.14 billion.
• The company declared a quarterly dividend of $0.25 per share, equating to an annualized yield of 1.13%.

Navellier & Associates Inc. lowered its position in shares of Mueller Industries, Inc. (NYSE:MLI - Free Report) by 31.3% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 12,194 shares of the industrial products company's stock after selling 5,559 shares during the quarter. Navellier & Associates Inc.'s holdings in Mueller Industries were worth $917,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of MLI. Golden State Wealth Management LLC boosted its holdings in shares of Mueller Industries by 103.1% in the 1st 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 last quarter. Benjamin Edwards Inc. raised its stake in Mueller Industries by 5.0% in the 4th quarter. Benjamin Edwards Inc. now owns 3,934 shares of the industrial products company's stock valued at $312,000 after acquiring an additional 187 shares during the period. Hohimer Wealth Management LLC raised its stake in Mueller Industries by 4.4% in the 1st quarter. Hohimer Wealth Management LLC now owns 4,463 shares of the industrial products company's stock valued at $340,000 after acquiring an additional 187 shares during the period. Texas Yale Capital Corp. raised its stake in Mueller Industries by 6.0% in the 4th quarter. Texas Yale Capital Corp. now owns 3,560 shares of the industrial products company's stock valued at $283,000 after acquiring an additional 200 shares during the period. Finally, Monument Capital Management raised its stake in Mueller Industries by 4.4% in the 1st quarter. Monument Capital Management now owns 4,898 shares of the industrial products company's stock valued at $373,000 after acquiring an additional 206 shares during the period. Institutional investors and hedge funds own 94.50% of the company's stock.

Insider Buying and Selling at Mueller Industries

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

Mueller Industries Trading Up 0.5%

MLI stock traded up $0.43 during trading hours on Wednesday, hitting $88.35. 118,714 shares of the stock were exchanged, compared to its average volume of 1,023,414. The company has a 50-day simple moving average of $80.32 and a two-hundred day simple moving average of $78.54. Mueller Industries, Inc. has a 12 month low of $62.74 and a 12 month high of $96.81. The firm has a market capitalization of $9.78 billion, a P/E ratio of 14.01 and a beta of 1.01.

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

Mueller Industries Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 20th. Investors of record on Friday, June 6th were issued a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, June 6th. This represents a $1.00 annualized dividend and a yield of 1.13%. Mueller Industries's dividend payout ratio (DPR) is currently 15.87%.

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.