Mueller Industries, Inc. $MLI Shares Sold by Martingale Asset Management L P

Martingale Asset Management L P decreased its position in Mueller Industries, Inc. (NYSE:MLI) by 22.2% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 53,078 shares of the industrial products company’s stock after selling 15,182 shares during the quarter. Martingale Asset Management L P’s holdings in Mueller Industries were worth $4,041,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in MLI. Golden State Wealth Management LLC grew 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 buying an additional 168 shares during the period. Benjamin Edwards Inc. grew its holdings in Mueller Industries by 5.0% in the 4th quarter. Benjamin Edwards Inc. now owns 3,934 shares of the industrial products company’s stock valued at $312,000 after buying an additional 187 shares during the period. Hohimer Wealth Management LLC grew its holdings in Mueller Industries by 4.4% in the 1st quarter. Hohimer Wealth Management LLC now owns 4,463 shares of the industrial products company’s stock valued at $340,000 after buying an additional 187 shares during the period. Monument Capital Management grew its holdings in Mueller Industries by 4.4% in the 1st quarter. Monument Capital Management now owns 4,898 shares of the industrial products company’s stock valued at $373,000 after buying an additional 206 shares during the period. Finally, Nebula Research & Development LLC grew its holdings in Mueller Industries by 1.4% in the 4th quarter. Nebula Research & Development LLC now owns 15,085 shares of the industrial products company’s stock valued at $1,197,000 after buying an additional 213 shares during the period. Institutional investors and hedge funds own 94.50% of the company’s stock.

Mueller Industries Price Performance

MLI opened at $90.5910 on Friday. The stock has a market capitalization of $10.03 billion, a price-to-earnings ratio of 14.38 and a beta of 1.02. The business has a 50-day moving average of $84.41 and a two-hundred day moving average of $79.59. Mueller Industries, Inc. has a 12 month low of $65.24 and a 12 month high of $96.81.

Mueller Industries (NYSE:MLI) last issued its earnings results on Tuesday, July 22nd. The industrial products company reported $1.96 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $1.12 billion. The company’s revenue was up 14.1% compared to the same quarter last year.

Mueller Industries Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, September 19th. Stockholders of record on Friday, September 5th will be issued a dividend of $0.25 per share. The ex-dividend date is Friday, September 5th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.1%. Mueller Industries’s payout ratio is presently 15.87%.

Insider Activity

In other news, Director John B. Hansen sold 1,000 shares of the business’s 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. The trade was a 1.07% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 2.70% of the company’s stock.

Mueller Industries Company 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.