Narwhal Capital Management Has $7.38 Million Stock Position in Mueller Industries, Inc. $MLI

Key Points

• Narwhal Capital Management increased its stake in Mueller Industries, raising ownership by 5.3% to approximately $7.38 million through additional share purchases.
• Mueller Industries achieved a quarterly EPS of $1.96, surpassing analysts' expectations, alongside a revenue increase of 14.1% compared to the previous year.
• The company declared a dividend of $0.25 per share, yielding 1.0%, reflecting a strong financial position with a low dividend payout ratio of 15.87%.

Narwhal Capital Management boosted its position in Mueller Industries, Inc. (NYSE:MLI - Free Report) by 5.3% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 92,862 shares of the industrial products company's stock after purchasing an additional 4,689 shares during the period. Narwhal Capital Management owned about 0.08% of Mueller Industries worth $7,380,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. D.A. Davidson & CO. acquired a new stake in Mueller Industries in the 1st quarter valued at about $317,000. Fifth Third Bancorp lifted its position in Mueller Industries by 6.1% during the first quarter. Fifth Third Bancorp now owns 3,701 shares of the industrial products company's stock worth $282,000 after acquiring an additional 213 shares during the last quarter. SG Americas Securities LLC acquired a new stake in Mueller Industries during the first quarter worth approximately $303,000. Chevy Chase Trust Holdings LLC acquired a new stake in Mueller Industries during the first quarter worth approximately $4,140,000. Finally, KBC Group NV lifted its position in Mueller Industries by 391.3% during the first quarter. KBC Group NV now owns 20,575 shares of the industrial products company's stock worth $1,567,000 after acquiring an additional 16,387 shares during the last quarter. 94.50% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Mueller Industries

In other Mueller Industries news, Director John B. Hansen sold 1,000 shares of the firm's stock in a transaction that occurred 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 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 filing with the SEC, which is available at this link. 2.70% of the stock is owned by company insiders.

Analyst Ratings Changes

Separately, Weiss Ratings restated a "buy (b)" rating on shares of Mueller Industries in a research report on Wednesday. Two equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock currently has an average rating of "Buy" and an average price target of $105.00.

Mueller Industries Trading Up 1.8%

Shares of MLI opened at $100.42 on Thursday. The firm's 50 day moving average is $95.56 and its 200-day moving average is $83.90. The stock has a market capitalization of $11.12 billion, a PE ratio of 15.94 and a beta of 1.02. Mueller Industries, Inc. has a 12 month low of $66.84 and a 12 month high of $102.75.

Mueller Industries (NYSE:MLI - Get Free Report) last announced its quarterly earnings data on Tuesday, July 22nd. The industrial products company reported $1.96 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 net margin of 17.48% and a return on equity of 24.47%. Mueller Industries's revenue for the quarter was up 14.1% compared to the same quarter last year.

Mueller Industries Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 19th. Investors of record on Friday, September 5th were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date of this dividend was Friday, September 5th. Mueller Industries's dividend payout ratio (DPR) is 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.

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