Uncommon Cents Investing LLC Purchases 4,405 Shares of Mueller Industries, Inc. $MLI

Key Points

• Uncommon Cents Investing LLC increased its stake in Mueller Industries by 8.1% during the second quarter, owning a total of 58,665 shares, which is valued at approximately $4.66 million.
• Mueller Industries reported a quarterly earnings per share (EPS) of $1.96, surpassing analyst estimates of $1.62, and achieved a revenue of $1.14 billion, up 14.1% year-over-year.
• The company has announced a quarterly dividend of $0.25 per share, representing a 1.0% yield and a dividend payout ratio of 15.87%.

Uncommon Cents Investing LLC raised its position in Mueller Industries, Inc. (NYSE:MLI - Free Report) by 8.1% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 58,665 shares of the industrial products company's stock after buying an additional 4,405 shares during the quarter. Mueller Industries accounts for 1.2% of Uncommon Cents Investing LLC's holdings, making the stock its 19th biggest holding. Uncommon Cents Investing LLC owned 0.05% of Mueller Industries worth $4,662,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Invesco Ltd. boosted its position in shares of Mueller Industries by 0.4% in the first quarter. Invesco Ltd. now owns 2,799,575 shares of the industrial products company's stock valued at $213,160,000 after acquiring an additional 10,968 shares during the period. Caisse DE Depot ET Placement DU Quebec raised its stake in Mueller Industries by 15.7% in the first quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,224,842 shares of the industrial products company's stock valued at $93,259,000 after purchasing an additional 166,012 shares in the last quarter. Systematic Financial Management LP lifted its holdings in shares of Mueller Industries by 1.0% during the 1st quarter. Systematic Financial Management LP now owns 957,113 shares of the industrial products company's stock worth $72,875,000 after acquiring an additional 9,463 shares during the period. Nuveen LLC acquired a new stake in shares of Mueller Industries in the 1st quarter valued at $54,072,000. Finally, Epoch Investment Partners Inc. boosted its stake in Mueller Industries by 222.8% in the first quarter. Epoch Investment Partners Inc. now owns 597,704 shares of the industrial products company's stock valued at $45,509,000 after buying an additional 412,564 shares in the last quarter. Institutional investors and hedge funds own 94.50% of the company's stock.

Insider Transactions at Mueller Industries

In related news, Director John B. Hansen sold 1,000 shares of the 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 completion of the transaction, the director owned 92,664 shares in the company, valued at approximately $8,522,308.08. This represents a 1.07% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 2.70% of the stock is owned by company insiders.

Mueller Industries Stock Performance

NYSE MLI opened at $101.55 on Friday. The stock has a market cap of $11.24 billion, a PE ratio of 16.12 and a beta of 1.05. The firm's fifty day moving average price is $93.46 and its two-hundred day moving average price is $82.78. Mueller Industries, Inc. has a fifty-two week low of $66.84 and a fifty-two week high of $102.75.

Mueller Industries (NYSE:MLI - Get Free Report) last released its quarterly earnings results 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 net margin of 17.48% and a return on equity of 24.47%. The firm had revenue of $1.14 billion during the quarter, compared to analyst estimates of $1.12 billion. The business's revenue was up 14.1% on a year-over-year basis.

Mueller Industries Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 19th. Shareholders of record on Friday, September 5th were given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a 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%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.