TD Private Client Wealth LLC Sells 7,731 Shares of Mueller Industries, Inc. $MLI

Key Points

• TD Private Client Wealth LLC has reduced its holdings in Mueller Industries, Inc. by 88.4%, selling 7,731 shares in the second quarter and holding only 1,016 shares worth approximately $81,000.
• Mueller Industries reported earnings of $1.96 per share, exceeding analyst estimates of $1.62, with a quarterly revenue of $1.14 billion, representing a 14.1% increase year-over-year.
• The company declared a quarterly dividend of $0.25, resulting in an annualized yield of 1.0%, while its dividend payout ratio stands at 15.87%.

TD Private Client Wealth LLC lessened its holdings in Mueller Industries, Inc. (NYSE:MLI - Free Report) by 88.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,016 shares of the industrial products company's stock after selling 7,731 shares during the quarter. TD Private Client Wealth LLC's holdings in Mueller Industries were worth $81,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the business. Public Employees Retirement System of Ohio boosted its stake in shares of Mueller Industries by 1,345.1% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 36,157 shares of the industrial products company's stock valued at $2,873,000 after purchasing an additional 33,655 shares during the last quarter. Maseco LLP bought a new position in shares of Mueller Industries in the 2nd quarter valued at about $40,000. Counterpoint Mutual Funds LLC bought a new position in shares of Mueller Industries in the 2nd quarter valued at about $2,313,000. Oliver Luxxe Assets LLC boosted its stake in shares of Mueller Industries by 2.1% in the 2nd quarter. Oliver Luxxe Assets LLC now owns 92,643 shares of the industrial products company's stock valued at $7,362,000 after purchasing an additional 1,902 shares during the last quarter. Finally, Caitlin John LLC boosted its stake in shares of Mueller Industries by 83.2% in the 2nd quarter. Caitlin John LLC now owns 13,194 shares of the industrial products company's stock valued at $1,049,000 after purchasing an additional 5,992 shares during the last quarter. Institutional investors own 94.50% of the company's stock.

Mueller Industries Trading Down 1.1%

Shares of NYSE MLI opened at $100.30 on Tuesday. The firm has a market capitalization of $11.10 billion, a PE ratio of 15.92 and a beta of 1.05. Mueller Industries, Inc. has a 1 year low of $66.84 and a 1 year high of $102.75. The firm's 50-day moving average is $93.80 and its 200-day moving average is $82.96.

Mueller Industries (NYSE:MLI - Get Free Report) last issued its earnings results on Tuesday, July 22nd. The industrial products company reported $1.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.62 by $0.34. The company had revenue of $1.14 billion for 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 company's revenue for the quarter was up 14.1% compared to the same quarter last year.

Mueller Industries Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 19th. Investors of record on Friday, September 5th were given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date was Friday, September 5th. Mueller Industries's dividend payout ratio (DPR) is currently 15.87%.

Insider Buying and Selling at Mueller Industries

In related news, Director John B. Hansen sold 1,000 shares of the 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 directly owned 92,664 shares in the company, valued at $8,522,308.08. This trade represents a 1.07% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 2.70% of the stock is owned by corporate 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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