Invesco Ltd. Boosts Stock Position in Mueller Industries, Inc. $MLI

Invesco Ltd. increased its holdings in shares of Mueller Industries, Inc. (NYSE:MLI - Free Report) by 0.4% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,799,575 shares of the industrial products company's stock after acquiring an additional 10,968 shares during the quarter. Invesco Ltd. owned approximately 2.53% of Mueller Industries worth $213,160,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Caisse DE Depot ET Placement DU Quebec lifted its stake 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 valued at $84,029,000 after purchasing an additional 665,413 shares during the last quarter. SG Capital Management LLC bought a new stake in shares of Mueller Industries in the fourth quarter valued at $34,704,000. Northern Trust Corp raised its stake in shares of 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 valued at $121,867,000 after buying an additional 338,902 shares during the period. First Trust Advisors LP raised its stake in shares of 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 valued at $493,217,000 after buying an additional 327,479 shares during the period. Finally, Janus Henderson Group PLC raised its stake in shares of Mueller Industries by 202.1% in the fourth quarter. Janus Henderson Group PLC now owns 438,348 shares of the industrial products company's stock valued at $34,801,000 after buying an additional 293,245 shares during the period. 94.50% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Mueller Industries

In other news, Director John B. Hansen sold 1,000 shares of the company's 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 transaction, the director owned 92,664 shares of the company's stock, valued at approximately $8,522,308.08. This represents a 1.07% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 2.70% of the company's stock.

Mueller Industries Price Performance

Shares of MLI traded down $0.04 during mid-day trading on Monday, hitting $91.53. The stock had a trading volume of 192,206 shares, compared to its average volume of 1,011,957. The firm has a market cap of $10.13 billion, a P/E ratio of 14.54 and a beta of 1.02. Mueller Industries, Inc. has a 52 week low of $65.24 and a 52 week high of $96.81. The business has a fifty day moving average price of $83.28 and a 200-day moving average price of $79.23.

Mueller Industries (NYSE:MLI - Get Free Report) last announced its quarterly earnings results 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 company 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%. Mueller Industries's revenue for the quarter was up 14.1% on a year-over-year basis.

Mueller Industries Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, September 19th. Stockholders of record on Friday, September 5th will be given a $0.25 dividend. The ex-dividend date is Friday, September 5th. This represents a $1.00 annualized dividend and a dividend yield of 1.1%. Mueller Industries's payout ratio is 15.87%.

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.