Spectrum Wealth Counsel LLC Sells 25,452 Shares of Mueller Industries, Inc. (NYSE:MLI)

Key Points

• Spectrum Wealth Counsel LLC decreased its stake in Mueller Industries by 40.7%, selling 25,452 shares and retaining 37,079 shares worth approximately $2.83 million.
• Recent quarterly earnings showed Mueller Industries surpassing estimates, reporting $1.96 earnings per share and $1.14 billion in revenue, a 14.1% year-over-year increase.
• Mueller Industries announced a quarterly dividend of $0.25 per share, reflecting a 1.13% dividend yield with a payout ratio of 15.87%.

Spectrum Wealth Counsel LLC cut its stake in Mueller Industries, Inc. (NYSE:MLI - Free Report) by 40.7% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 37,079 shares of the industrial products company's stock after selling 25,452 shares during the quarter. Spectrum Wealth Counsel LLC's holdings in Mueller Industries were worth $2,823,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in MLI. Norges Bank bought a new stake in shares of Mueller Industries in the fourth quarter worth approximately $117,351,000. Invesco Ltd. boosted its holdings in shares of Mueller Industries by 50.3% in the fourth quarter. Invesco Ltd. now owns 2,788,607 shares of the industrial products company's stock worth $221,304,000 after buying an additional 933,498 shares during the last quarter. FMR LLC boosted its holdings in shares of Mueller Industries by 79.2% in the fourth quarter. FMR LLC now owns 1,911,689 shares of the industrial products company's stock worth $151,712,000 after buying an additional 845,031 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec boosted its holdings in shares of 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 worth $84,029,000 after buying an additional 665,413 shares during the last quarter. Finally, SG Capital Management LLC purchased a new position in shares of Mueller Industries in the fourth quarter worth approximately $34,704,000. 94.50% of the stock is currently owned by institutional investors.

Mueller Industries Trading Up 0.5%

MLI opened at $88.71 on Friday. The company has a market cap of $9.82 billion, a price-to-earnings ratio of 14.08 and a beta of 1.01. The company's 50 day moving average is $79.92 and its 200 day moving average is $78.41. Mueller Industries, Inc. has a 12-month low of $62.74 and a 12-month high of $96.81.

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

Mueller Industries Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 20th. Investors of record on Friday, June 6th were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.13%. The ex-dividend date of this dividend was Friday, June 6th. Mueller Industries's payout ratio is 15.87%.

Insider Buying and Selling

In other Mueller Industries news, Director Terry Hermanson sold 10,000 shares of Mueller Industries stock in a transaction that occurred on Tuesday, May 6th. The shares were sold at an average price of $74.34, for a total transaction of $743,400.00. Following the transaction, the director owned 100,082 shares of the company's stock, valued at $7,440,095.88. The trade was a 9.08% decrease in their ownership of the stock. 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 Mueller Industries stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $78.07, for a total transaction of $244,359.10. Following the transaction, the director directly owned 93,914 shares in the company, valued at $7,331,865.98. This represents a 3.23% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 29,613 shares of company stock valued at $2,198,600. 2.70% of the stock is owned by insiders.

Mueller Industries 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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