United Services Automobile Association acquired a new stake in Mueller Industries, Inc. (NYSE:MLI - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 7,568 shares of the industrial products company's stock, valued at approximately $580,000.
Several other hedge funds and other institutional investors have also made changes to their positions in MLI. Golden State Wealth Management LLC raised its position in shares of Mueller Industries by 103.1% during the 1st 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 in the last quarter. Brooklyn Investment Group raised its position in shares of Mueller Industries by 267.3% during the 1st quarter. Brooklyn Investment Group now owns 382 shares of the industrial products company's stock worth $29,000 after acquiring an additional 278 shares in the last quarter. Rise Advisors LLC acquired a new stake in shares of Mueller Industries during the 1st quarter worth about $30,000. Wayfinding Financial LLC acquired a new stake in shares of Mueller Industries during the 1st quarter worth about $34,000. Finally, Opal Wealth Advisors LLC acquired a new stake in shares of Mueller Industries during the 1st quarter worth about $40,000. Institutional investors and hedge funds own 94.50% of the company's stock.
Insider Buying and Selling
In other Mueller Industries news, Director John B. Hansen sold 1,000 shares of Mueller Industries stock in a transaction that occurred on Tuesday, August 12th. The stock was 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 of the company's stock, valued at $8,522,308.08. The trade was a 1.07% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 2.70% of the stock is currently owned by company insiders.
Mueller Industries Price Performance
Shares of NYSE MLI traded up $0.24 during midday trading on Monday, hitting $99.20. 224,143 shares of the company's stock were exchanged, compared to its average volume of 982,055. Mueller Industries, Inc. has a twelve month low of $66.84 and a twelve month high of $99.93. The company has a market cap of $10.98 billion, a PE ratio of 15.75 and a beta of 1.05. The firm's fifty day simple moving average is $90.42 and its 200-day simple moving average is $81.42.
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 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 business had revenue of $1.14 billion for the quarter, compared to analyst estimates of $1.12 billion. The business's revenue for the quarter was up 14.1% compared to the same quarter last year.
Mueller Industries Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 19th. Stockholders of record on Friday, September 5th will be 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 is Friday, September 5th. Mueller Industries's dividend payout ratio (DPR) is 15.87%.
Mueller Industries Profile
(
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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