Aperio Group LLC raised its position in shares of Mueller Industries, Inc. (NYSE:MLI) by 25.4% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 8,170 shares of the industrial products company’s stock after purchasing an additional 1,655 shares during the quarter. Aperio Group LLC’s holdings in Mueller Industries were worth $239,000 at the end of the most recent quarter.
Other large investors have also recently added to or reduced their stakes in the company. Anderson Fisher LLC bought a new stake in Mueller Industries during the 1st quarter valued at about $103,000. Convergence Investment Partners LLC purchased a new stake in shares of Mueller Industries during the 1st quarter valued at about $198,000. Oppenheimer & Co. Inc. purchased a new stake in shares of Mueller Industries during the 1st quarter valued at about $216,000. GABELLI & Co INVESTMENT ADVISERS INC. purchased a new stake in shares of Mueller Industries during the 1st quarter valued at about $219,000. Finally, Magnus Financial Group LLC purchased a new stake in shares of Mueller Industries during the 1st quarter valued at about $235,000. Institutional investors and hedge funds own 91.78% of the company’s stock.
In other Mueller Industries news, Director Paul J. Flaherty sold 10,000 shares of the business’s stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $30.41, for a total value of $304,100.00. Following the completion of the transaction, the director now directly owns 15,073 shares in the company, valued at $458,369.93. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Gennaro J. Fulvio sold 10,383 shares of the business’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $26.62, for a total transaction of $276,395.46. Following the completion of the transaction, the director now owns 2,000 shares of the company’s stock, valued at $53,240. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 26,196 shares of company stock valued at $760,755. 3.30% of the stock is owned by insiders.
Shares of Mueller Industries stock traded up $0.23 on Friday, hitting $29.27. 12,627 shares of the company traded hands, compared to its average volume of 176,245. The company has a debt-to-equity ratio of 0.83, a quick ratio of 1.91 and a current ratio of 3.24. The business has a 50-day simple moving average of $27.39 and a 200 day simple moving average of $29.25. The stock has a market capitalization of $1.58 billion, a P/E ratio of 15.74 and a beta of 1.38. Mueller Industries, Inc. has a 52 week low of $21.49 and a 52 week high of $34.24.
Mueller Industries (NYSE:MLI) last posted its quarterly earnings data on Tuesday, July 23rd. The industrial products company reported $0.58 EPS for the quarter, topping the consensus estimate of $0.51 by $0.07. Mueller Industries had a net margin of 3.66% and a return on equity of 19.00%. The company had revenue of $666.93 million during the quarter. During the same period in the previous year, the firm earned $0.58 earnings per share. The firm’s quarterly revenue was up .6% compared to the same quarter last year. Research analysts expect that Mueller Industries, Inc. will post 1.52 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 20th. Investors of record on Friday, September 6th will be paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 1.37%. The ex-dividend date is Thursday, September 5th. Mueller Industries’s dividend payout ratio (DPR) is presently 21.51%.
A number of research firms recently issued reports on MLI. TheStreet downgraded shares of Mueller Industries from a “b-” rating to a “c+” rating in a report on Wednesday, September 4th. ValuEngine downgraded shares of Mueller Industries from a “hold” rating to a “sell” rating in a report on Thursday, August 1st. Finally, Zacks Investment Research upgraded shares of Mueller Industries from a “hold” rating to a “strong-buy” rating and set a $35.00 target price on the stock in a research note on Saturday, July 27th.
About Mueller Industries
Mueller Industries, Inc engages in the manufacture of copper, brass, aluminum, and plastic products. It operates through the following segments: Piping Systems, Industrial Metals, and Climate. The Piping Systems segment consists of domestic piping systems group, Canadian operations, European operations, trading group, Jiangsu Mueller-Xingrong Copper Industries Limited, and Jungwoo Metal Ind.
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