EntryPoint Capital LLC Takes $67,000 Position in Mueller Industries, Inc. (NYSE:MLI)

EntryPoint Capital LLC bought a new position in Mueller Industries, Inc. (NYSE:MLI) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 1,237 shares of the industrial products company’s stock, valued at approximately $67,000.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Public Employees Retirement System of Ohio acquired a new position in Mueller Industries during the 3rd quarter valued at about $192,000. Raymond James & Associates raised its stake in shares of Mueller Industries by 99.2% during the fourth quarter. Raymond James & Associates now owns 61,800 shares of the industrial products company’s stock valued at $2,914,000 after purchasing an additional 30,777 shares in the last quarter. Raymond James Financial Services Advisors Inc. lifted its holdings in Mueller Industries by 100.7% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 11,811 shares of the industrial products company’s stock worth $557,000 after purchasing an additional 5,927 shares during the period. Blue Trust Inc. grew its position in Mueller Industries by 41.2% in the 4th quarter. Blue Trust Inc. now owns 1,699 shares of the industrial products company’s stock valued at $80,000 after buying an additional 496 shares in the last quarter. Finally, State of Alaska Department of Revenue boosted its holdings in shares of Mueller Industries by 97.5% in the fourth quarter. State of Alaska Department of Revenue now owns 69,844 shares of the industrial products company’s stock valued at $3,293,000 after acquiring an additional 34,483 shares in the last quarter. 94.50% of the stock is currently owned by institutional investors.

Insider Transactions at Mueller Industries

In other news, Director John B. Hansen sold 2,733 shares of the company’s stock in a transaction on Monday, May 13th. The stock was sold at an average price of $58.61, for a total transaction of $160,181.13. Following the completion of the sale, the director now directly owns 103,914 shares of the company’s stock, valued at $6,090,399.54. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, 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 completion of the sale, the director now owns 24,733 shares in the company, valued at approximately $1,427,836.09. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director John B. Hansen sold 2,733 shares of the firm’s stock in a transaction that occurred on Monday, May 13th. The stock was sold at an average price of $58.61, for a total transaction of $160,181.13. Following the completion of the transaction, the director now directly owns 103,914 shares of the company’s stock, valued at approximately $6,090,399.54. The disclosure for this sale can be found here. Corporate insiders own 2.80% of the company’s stock.

Mueller Industries Stock Up 2.8 %

MLI traded up $1.93 during trading on Friday, reaching $70.13. The stock had a trading volume of 831,463 shares, compared to its average volume of 744,044. The stock has a 50 day moving average of $58.47 and a two-hundred day moving average of $54.18. The firm has a market capitalization of $7.95 billion, a price-to-earnings ratio of 14.05 and a beta of 1.06. Mueller Industries, Inc. has a 1-year low of $34.96 and a 1-year high of $70.58.

Mueller Industries (NYSE:MLI) last announced its earnings results on Tuesday, July 23rd. The industrial products company reported $1.41 earnings per share for the quarter, beating the consensus estimate of $1.29 by $0.12. Mueller Industries had a return on equity of 22.86% and a net margin of 16.19%. The business had revenue of $997.75 million during the quarter.

Mueller Industries Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 21st. Stockholders of record on Friday, June 7th were given a dividend of $0.20 per share. The ex-dividend date was Friday, June 7th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.14%. Mueller Industries’s dividend payout ratio (DPR) is presently 16.03%.

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.