Northern Trust Corp Has $115.69 Million Stake in Mueller Industries, Inc. $MLI

Key Points

• Northern Trust Corp has reduced its holdings in Mueller Industries by 1.1% during the first quarter, selling 16,259 shares and holding approximately 1.37% of the company, valued at $115.7 million.
• Mueller Industries recently reported earnings of $1.96 EPS for the last quarter, surpassing analysts' expectations, with a revenue increase of 14.1% year-over-year.
• The company has declared a quarterly dividend of $0.25 per share, with a payout ratio of 15.87% and an annual yield of 1.1% for shareholders of record.

Northern Trust Corp trimmed its holdings in Mueller Industries, Inc. (NYSE:MLI - Free Report) by 1.1% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,519,366 shares of the industrial products company's stock after selling 16,259 shares during the quarter. Northern Trust Corp owned 1.37% of Mueller Industries worth $115,685,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Golden State Wealth Management LLC lifted its stake 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 in the last quarter. Benjamin Edwards Inc. lifted its stake in Mueller Industries by 5.0% during the fourth quarter. Benjamin Edwards Inc. now owns 3,934 shares of the industrial products company's stock valued at $312,000 after buying an additional 187 shares in the last quarter. Hohimer Wealth Management LLC lifted its stake in Mueller Industries by 4.4% during the first quarter. Hohimer Wealth Management LLC now owns 4,463 shares of the industrial products company's stock valued at $340,000 after buying an additional 187 shares in the last quarter. Monument Capital Management lifted its stake in Mueller Industries by 4.4% during the first quarter. Monument Capital Management now owns 4,898 shares of the industrial products company's stock valued at $373,000 after buying an additional 206 shares in the last quarter. Finally, Nebula Research & Development LLC lifted its stake in Mueller Industries by 1.4% during the fourth quarter. Nebula Research & Development LLC now owns 15,085 shares of the industrial products company's stock valued at $1,197,000 after buying an additional 213 shares in the last quarter. 94.50% of the stock is owned by institutional investors and hedge funds.

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 dated Tuesday, August 12th. The stock was 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 in the company, valued at $8,522,308.08. This represents a 1.07% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 2.70% of the stock is owned by corporate insiders.

Mueller Industries Trading Down 1.0%

MLI stock traded down $0.96 during mid-day trading on Friday, reaching $95.55. 64,765 shares of the stock traded hands, compared to its average volume of 994,157. Mueller Industries, Inc. has a 52-week low of $65.24 and a 52-week high of $97.26. The company has a market cap of $10.58 billion, a P/E ratio of 15.17 and a beta of 1.02. The stock's fifty day moving average is $86.64 and its 200-day moving average is $80.15.

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, beating analysts' consensus estimates of $1.62 by $0.34. Mueller Industries had a net margin of 17.48% and a return on equity of 24.47%. The company had revenue of $1.14 billion during the quarter, compared to analyst estimates of $1.12 billion. The firm's quarterly revenue was up 14.1% compared to the same quarter last year.

Mueller Industries Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 19th. Stockholders of record on Friday, September 5th will be issued a $0.25 dividend. The ex-dividend date is Friday, September 5th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.0%. Mueller Industries's dividend payout ratio is currently 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.