TFG Advisers LLC Buys Shares of 2,604 Mueller Industries, Inc. $MLI

Key Points

• TFG Advisers LLC has acquired 2,604 shares of Mueller Industries, Inc., valued at approximately $207,000, during the second quarter of the year.
• Mueller Industries reported earnings per share (EPS) of $1.96 for the last quarter, exceeding estimates by $0.34, and showed a 14.1% year-over-year revenue growth.
• The company's latest dividend of $0.25 per share represents a 1.0% yield and was paid to investors on September 19th.

TFG Advisers LLC purchased a new stake in Mueller Industries, Inc. (NYSE:MLI - Free Report) in the second quarter, according to the company in its most recent filing with the SEC. The firm purchased 2,604 shares of the industrial products company's stock, valued at approximately $207,000.

A number of other institutional investors have also recently added to or reduced their stakes in MLI. Truist Financial Corp lifted its position in shares of Mueller Industries by 65.2% during the 2nd quarter. Truist Financial Corp now owns 127,641 shares of the industrial products company's stock valued at $10,144,000 after acquiring an additional 50,388 shares during the period. Janney Montgomery Scott LLC increased its position in shares of Mueller Industries by 21.3% in the second quarter. Janney Montgomery Scott LLC now owns 24,927 shares of the industrial products company's stock valued at $1,981,000 after buying an additional 4,370 shares in the last quarter. Ausbil Investment Management Ltd raised its stake in shares of Mueller Industries by 16.4% during the 2nd quarter. Ausbil Investment Management Ltd now owns 46,369 shares of the industrial products company's stock worth $3,685,000 after buying an additional 6,516 shares during the last quarter. Uncommon Cents Investing LLC boosted its position in shares of Mueller Industries by 8.1% in the 2nd quarter. Uncommon Cents Investing LLC now owns 58,665 shares of the industrial products company's stock worth $4,662,000 after buying an additional 4,405 shares in the last quarter. Finally, Advisors Management Group Inc. ADV grew its stake in Mueller Industries by 51.0% in the 2nd quarter. Advisors Management Group Inc. ADV now owns 51,024 shares of the industrial products company's stock valued at $4,055,000 after acquiring an additional 17,239 shares during the last quarter. Hedge funds and other institutional investors own 94.50% of the company's stock.

Mueller Industries Trading Up 0.6%

Shares of MLI opened at $100.52 on Friday. The company has a 50-day moving average of $94.61 and a two-hundred day moving average of $83.34. The stock has a market cap of $11.13 billion, a P/E ratio of 15.96 and a beta of 1.02. Mueller Industries, Inc. has a 12-month low of $66.84 and a 12-month high of $102.75.

Mueller Industries (NYSE:MLI - Get Free Report) last issued its quarterly earnings data on Tuesday, July 22nd. The industrial products company reported $1.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.62 by $0.34. Mueller Industries had a return on equity of 24.47% and a net margin of 17.48%.The firm had revenue of $1.14 billion during the quarter, compared to the consensus estimate 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 business also recently disclosed a quarterly dividend, which was paid on Friday, September 19th. Investors of record on Friday, September 5th were paid a dividend of $0.25 per share. The ex-dividend date of this dividend was 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 (DPR) is presently 15.87%.

Insider Activity at Mueller Industries

In related news, Director John B. Hansen sold 1,000 shares of Mueller Industries stock in a transaction dated Tuesday, August 12th. The stock was sold at an average price of $91.97, for a total transaction of $91,970.00. Following the completion of the sale, the director owned 92,664 shares in the company, valued at approximately $8,522,308.08. This trade represents a 1.07% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 2.70% of the stock is currently 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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