Mueller Industries, Inc. $MLI Shares Purchased by OMERS ADMINISTRATION Corp

Key Points

• OMERS ADMINISTRATION Corp significantly increased its holdings in Mueller Industries, Inc. by 320.0% during the first quarter, boosting its total shares to 51,521, valued at approximately $3.92 million.
• Mueller Industries reported a 14.1% year-over-year revenue increase for the most recent quarter, reaching $1.14 billion, and surpassed analysts' earnings forecasts with $1.96 earnings per share.
• The company declared a $0.25 quarterly dividend to be paid on September 19th, representing an annualized yield of 1.0% and highlighting a manageable payout ratio of 15.87%.

OMERS ADMINISTRATION Corp grew its stake in shares of Mueller Industries, Inc. (NYSE:MLI - Free Report) by 320.0% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 51,521 shares of the industrial products company's stock after buying an additional 39,254 shares during the period. OMERS ADMINISTRATION Corp's holdings in Mueller Industries were worth $3,923,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Golden State Wealth Management LLC boosted its holdings 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 acquiring an additional 168 shares during the last quarter. Brooklyn Investment Group increased its stake in Mueller Industries by 267.3% during the first quarter. Brooklyn Investment Group now owns 382 shares of the industrial products company's stock worth $29,000 after acquiring an additional 278 shares during the last quarter. Wayfinding Financial LLC purchased a new position in shares of Mueller Industries in the 1st quarter worth about $34,000. Opal Wealth Advisors LLC acquired a new position in shares of Mueller Industries in the 1st quarter valued at about $40,000. Finally, Quarry LP acquired a new position in shares of Mueller Industries in the 4th quarter valued at about $45,000. 94.50% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, Director John B. Hansen sold 1,000 shares of the stock in a transaction on Tuesday, August 12th. The stock was sold at an average price of $91.97, for a total value of $91,970.00. Following the completion of the sale, the director directly owned 92,664 shares in the company, valued at approximately $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 accessible through the SEC website. Company insiders own 2.70% of the company's stock.

Mueller Industries Stock Performance

Shares of NYSE:MLI traded down $0.62 during trading on Monday, reaching $95.88. 690,057 shares of the stock were exchanged, compared to its average volume of 753,917. The firm's 50-day moving average price is $87.10 and its 200 day moving average price is $80.25. The firm has a market cap of $10.61 billion, a price-to-earnings ratio of 15.22 and a beta of 1.04. Mueller Industries, Inc. has a 12-month low of $65.24 and a 12-month high of $97.26.

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

Mueller Industries Dividend Announcement

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