11,168 Shares in Mueller Industries Inc. (MLI) Acquired by Mason Street Advisors LLC
Mason Street Advisors LLC bought a new position in shares of Mueller Industries Inc. (NYSE:MLI) during the second quarter, Holdings Channel reports. The institutional investor bought 11,168 shares of the company’s stock, valued at approximately $356,000.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in MLI. FMR LLC increased its position in Mueller Industries by 7.4% in the second quarter. FMR LLC now owns 5,155,550 shares of the company’s stock worth $164,359,000 after buying an additional 356,470 shares during the last quarter. Vanguard Group Inc. increased its position in Mueller Industries by 0.7% in the second quarter. Vanguard Group Inc. now owns 4,476,114 shares of the company’s stock worth $142,699,000 after buying an additional 33,280 shares during the last quarter. Gamco Investors INC. ET AL increased its position in Mueller Industries by 3.3% in the second quarter. Gamco Investors INC. ET AL now owns 4,115,500 shares of the company’s stock worth $131,202,000 after buying an additional 132,846 shares during the last quarter. Wellington Management Group LLP increased its position in Mueller Industries by 5.7% in the first quarter. Wellington Management Group LLP now owns 3,943,848 shares of the company’s stock worth $116,027,000 after buying an additional 211,972 shares during the last quarter. Finally, BlackRock Fund Advisors increased its position in Mueller Industries by 3.3% in the second quarter. BlackRock Fund Advisors now owns 3,745,062 shares of the company’s stock worth $119,393,000 after buying an additional 119,720 shares during the last quarter. Institutional investors own 92.10% of the company’s stock.
Shares of Mueller Industries Inc. (NYSE:MLI) opened at 32.08 on Friday. The firm has a market capitalization of $1.83 billion, a P/E ratio of 20.70 and a beta of 1.11. The company has a 50 day moving average of $33.34 and a 200-day moving average of $32.09. Mueller Industries Inc. has a 12 month low of $23.09 and a 12 month high of $35.52.
Mueller Industries (NYSE:MLI) last posted its quarterly earnings results on Tuesday, July 19th. The company reported $0.49 EPS for the quarter, missing the Zacks’ consensus estimate of $0.55 by $0.06. Mueller Industries had a net margin of 4.25% and a return on equity of 10.15%. Analysts predict that Mueller Industries Inc. will post $1.55 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Monday, September 19th. Investors of record on Friday, September 2nd were paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 1.25%. The ex-dividend date of this dividend was Wednesday, August 31st. Mueller Industries’s dividend payout ratio (DPR) is presently 24.24%.
In related news, VP Richard W. Corman sold 3,768 shares of the business’s stock in a transaction dated Thursday, August 25th. The stock was sold at an average price of $34.20, for a total value of $128,865.60. Following the completion of the transaction, the vice president now owns 34,122 shares of the company’s stock, valued at $1,166,972.40. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 3.30% of the stock is owned by corporate insiders.
Mueller Industries Company Profile
Mueller Industries, Inc (Mueller) is a manufacturer of copper, brass, aluminum and plastic products. The Company operates through two segments: Plumbing & Refrigeration and Original Equipment Manufacturers (OEM). Its Plumbing & Refrigeration segment consists of Standard Products (SPD), Great Lakes Copper Ltd.
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