Strs Ohio bought a new position in shares of Mueller Industries, Inc. (NYSE:MLI - Free Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 26,000 shares of the industrial products company's stock, valued at approximately $1,980,000.
A number of other institutional investors have also modified their holdings of the stock. Golden State Wealth Management LLC lifted its stake 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 worth $25,000 after acquiring an additional 168 shares during the period. Brooklyn Investment Group lifted its stake in Mueller Industries by 267.3% in 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 period. Rise Advisors LLC purchased a new stake in Mueller Industries in the first quarter worth about $30,000. Wayfinding Financial LLC purchased a new stake in Mueller Industries in the first quarter worth about $34,000. Finally, Opal Wealth Advisors LLC purchased a new stake in Mueller Industries in the first quarter worth about $40,000. 94.50% of the stock is owned by hedge funds and other institutional investors.
Insider Activity
In other news, Director John B. Hansen sold 1,000 shares of the company's stock in a transaction dated Tuesday, August 12th. The shares were sold at an average price of $91.97, for a total transaction 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 2.70% of the stock is currently owned by company insiders.
Mueller Industries Price Performance
Shares of MLI stock traded down $0.63 during mid-day trading on Friday, hitting $99.62. 2,700,682 shares of the stock traded hands, compared to its average volume of 745,034. The stock has a market cap of $11.03 billion, a P/E ratio of 15.81 and a beta of 1.05. The stock's fifty day moving average is $91.90 and its two-hundred day moving average is $82.07. Mueller Industries, Inc. has a 52-week low of $66.84 and a 52-week high of $100.64.
Mueller Industries (NYSE:MLI - Get Free Report) last released 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. The business had revenue of $1.14 billion during the quarter, compared to analyst estimates of $1.12 billion. Mueller Industries had a net margin of 17.48% and a return on equity of 24.47%. The firm's revenue was up 14.1% on a year-over-year basis.
Mueller Industries Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Friday, September 19th. Shareholders of record on Friday, September 5th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.0%. The ex-dividend date of this dividend was Friday, September 5th. Mueller Industries's dividend payout ratio is presently 15.87%.
About Mueller Industries
(
Free Report)
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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