Vest Financial LLC Grows Stock Position in Mueller Industries, Inc. $MLI

Key Points

• Vest Financial LLC increased its holdings in Mueller Industries by 1.9%, owning 576,766 shares worth approximately $45.8 million as of its latest SEC filing.
• Mueller Industries reported an EPS of $1.96 for the last quarter, exceeding analysts' estimates of $1.62 and showing a 14.1% increase in quarterly revenue compared to the previous year.
• The company announced a quarterly dividend of $0.25, which translates to a 1.0% yield, and has a low dividend payout ratio of 15.87%.

Vest Financial LLC lifted its position in Mueller Industries, Inc. (NYSE:MLI - Free Report) by 1.9% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 576,766 shares of the industrial products company's stock after acquiring an additional 10,537 shares during the period. Vest Financial LLC owned 0.52% of Mueller Industries worth $45,836,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. Golden State Wealth Management LLC lifted its holdings in Mueller Industries by 103.1% in the 1st quarter. Golden State Wealth Management LLC now owns 331 shares of the industrial products company's stock valued at $25,000 after purchasing an additional 168 shares in the last quarter. Brooklyn Investment Group raised its position in shares of Mueller Industries by 267.3% in the first quarter. Brooklyn Investment Group now owns 382 shares of the industrial products company's stock valued at $29,000 after buying an additional 278 shares during the last quarter. Rise Advisors LLC purchased a new position in shares of Mueller Industries in the first quarter worth about $30,000. Wayfinding Financial LLC purchased a new position in shares of Mueller Industries in the first quarter worth about $34,000. Finally, Opal Wealth Advisors LLC purchased a new stake in Mueller Industries during the 1st quarter valued at about $40,000. 94.50% of the stock is currently owned by hedge funds and other institutional investors.

Mueller Industries Stock Performance

Shares of Mueller Industries stock opened at $96.88 on Monday. The stock has a 50 day moving average of $96.08 and a 200 day moving average of $84.23. The firm has a market capitalization of $10.72 billion, a price-to-earnings ratio of 15.38 and a beta of 1.02. 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 posted its earnings results on Tuesday, July 22nd. The industrial products company reported $1.96 EPS for the quarter, beating analysts' consensus estimates of $1.62 by $0.34. The company had revenue of $1.14 billion for the quarter, compared to the consensus estimate of $1.12 billion. Mueller Industries had a return on equity of 24.47% and a net margin of 17.48%.The company's quarterly revenue was up 14.1% compared to the same quarter last year.

Mueller Industries Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, September 19th. Shareholders of record on Friday, September 5th were given a $0.25 dividend. The ex-dividend date of this dividend was Friday, September 5th. This represents a $1.00 dividend on an annualized basis and a yield of 1.0%. Mueller Industries's dividend payout ratio is presently 15.87%.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reissued a "buy (b)" rating on shares of Mueller Industries in a research note on Wednesday, October 8th. Two equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus price target of $105.00.

Insiders Place Their Bets

In other Mueller Industries news, Director John B. Hansen sold 1,000 shares of Mueller Industries 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 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 2.70% of the stock is currently owned by company insiders.

About Mueller Industries

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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