Ausbil Investment Management Ltd Decreases Stake in Mueller Industries, Inc. (NYSE:MLI)

Ausbil Investment Management Ltd lowered its holdings in Mueller Industries, Inc. (NYSE:MLI) by 25.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 25,661 shares of the industrial products company’s stock after selling 8,873 shares during the quarter. Ausbil Investment Management Ltd’s holdings in Mueller Industries were worth $1,374,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of the business. CWM LLC increased its position in Mueller Industries by 36.9% during the first quarter. CWM LLC now owns 827 shares of the industrial products company’s stock valued at $45,000 after acquiring an additional 223 shares during the last quarter. Fifth Third Bancorp increased its position in Mueller Industries by 124.3% during the fourth quarter. Fifth Third Bancorp now owns 527 shares of the industrial products company’s stock valued at $25,000 after acquiring an additional 292 shares during the last quarter. Larson Financial Group LLC increased its position in Mueller Industries by 100.0% during the fourth quarter. Larson Financial Group LLC now owns 598 shares of the industrial products company’s stock valued at $28,000 after acquiring an additional 299 shares during the last quarter. Beaird Harris Wealth Management LLC purchased a new stake in Mueller Industries during the third quarter valued at $30,000. Finally, Parkside Financial Bank & Trust increased its position in Mueller Industries by 51.4% during the fourth quarter. Parkside Financial Bank & Trust now owns 1,373 shares of the industrial products company’s stock valued at $65,000 after acquiring an additional 466 shares during the last quarter. Hedge funds and other institutional investors own 94.50% of the company’s stock.

Mueller Industries Price Performance

Mueller Industries stock traded up $0.77 during mid-day trading on Friday, reaching $57.33. 46,248 shares of the stock traded hands, compared to its average volume of 660,029. The stock has a market capitalization of $6.51 billion, a PE ratio of 11.33 and a beta of 1.07. Mueller Industries, Inc. has a 12-month low of $34.96 and a 12-month high of $60.31. The business’s 50-day moving average is $56.99 and its 200-day moving average is $51.99.

Mueller Industries (NYSE:MLI) last announced its quarterly earnings data on Tuesday, April 23rd. The industrial products company reported $1.21 EPS for the quarter. Mueller Industries had a return on equity of 24.69% and a net margin of 17.22%. The business had revenue of $849.65 million for the quarter.

Mueller Industries Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 21st. Stockholders of record on Friday, June 7th were issued a $0.20 dividend. The ex-dividend date of this dividend was Friday, June 7th. This represents a $0.80 annualized dividend and a dividend yield of 1.40%. Mueller Industries’s dividend payout ratio (DPR) is 16.03%.

Insider Transactions at Mueller Industries

In other Mueller Industries news, Director John B. Hansen sold 4,000 shares of the business’s stock in a transaction that occurred on Thursday, April 25th. The stock was sold at an average price of $57.29, for a total transaction of $229,160.00. Following the sale, the director now directly owns 104,214 shares of the company’s stock, valued at $5,970,420.06. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Director John B. Hansen sold 4,000 shares of the company’s stock in a transaction that occurred on Thursday, April 25th. The stock was sold at an average price of $57.29, for a total transaction of $229,160.00. Following the transaction, the director now owns 104,214 shares of the company’s stock, valued at $5,970,420.06. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Elizabeth M. Donovan sold 2,000 shares of the company’s stock in a transaction that occurred on Thursday, May 30th. The shares were sold at an average price of $57.73, for a total value of $115,460.00. Following the transaction, the director now directly owns 24,733 shares in the company, valued at approximately $1,427,836.09. The disclosure for this sale can be found here. Over the last three months, insiders have sold 61,169 shares of company stock valued at $3,506,762. 2.80% of the stock is currently owned by insiders.

Mueller Industries 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.