Koch Industries Inc. increased its position in shares of Mueller Industries, Inc. (NYSE:MLI) by 96.8% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,169 shares of the industrial products company’s stock after purchasing an additional 5,493 shares during the period. Koch Industries Inc.’s holdings in Mueller Industries were worth $292,000 at the end of the most recent reporting period.
Several other hedge funds have also recently made changes to their positions in the company. Meadow Creek Investment Management LLC raised its position in shares of Mueller Industries by 28.6% during the 4th quarter. Meadow Creek Investment Management LLC now owns 9,010 shares of the industrial products company’s stock valued at $319,000 after purchasing an additional 2,006 shares during the period. First Trust Advisors LP raised its position in shares of Mueller Industries by 1.2% during the 4th quarter. First Trust Advisors LP now owns 202,641 shares of the industrial products company’s stock valued at $7,180,000 after purchasing an additional 2,406 shares during the period. Swiss National Bank raised its position in shares of Mueller Industries by 2.8% during the 4th quarter. Swiss National Bank now owns 92,300 shares of the industrial products company’s stock valued at $3,270,000 after purchasing an additional 2,500 shares during the period. Brinker Capital Inc. raised its position in shares of Mueller Industries by 36.0% during the 1st quarter. Brinker Capital Inc. now owns 10,697 shares of the industrial products company’s stock valued at $280,000 after purchasing an additional 2,829 shares during the period. Finally, Northern Trust Corp raised its position in shares of Mueller Industries by 0.4% during the 1st quarter. Northern Trust Corp now owns 758,298 shares of the industrial products company’s stock valued at $19,836,000 after purchasing an additional 3,210 shares during the period. Hedge funds and other institutional investors own 90.65% of the company’s stock.
Several analysts have recently commented on MLI shares. TheStreet upgraded shares of Mueller Industries from a “c” rating to a “b-” rating in a research report on Friday, May 18th. Boenning Scattergood assumed coverage on shares of Mueller Industries in a research note on Friday, May 18th. They set a “neutral” rating for the company.
Mueller Industries opened at $30.41 on Monday, according to Marketbeat. The firm has a market cap of $1.75 billion, a P/E ratio of 20.41 and a beta of 1.44. Mueller Industries, Inc. has a fifty-two week low of $25.26 and a fifty-two week high of $37.57. The company has a debt-to-equity ratio of 0.87, a current ratio of 3.58 and a quick ratio of 2.03.
Mueller Industries (NYSE:MLI) last released its earnings results on Tuesday, April 24th. The industrial products company reported $0.47 EPS for the quarter. The company had revenue of $640.06 million during the quarter. Mueller Industries had a return on equity of 15.55% and a net margin of 3.42%. research analysts predict that Mueller Industries, Inc. will post 1.7 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, June 15th. Stockholders of record on Friday, June 1st were paid a $0.10 dividend. The ex-dividend date of this dividend was Thursday, May 31st. This represents a $0.40 annualized dividend and a dividend yield of 1.32%. Mueller Industries’s dividend payout ratio (DPR) is currently 26.85%.
About Mueller Industries
Mueller Industries, Inc manufactures and sells copper, brass, aluminum, and plastic products in the United States, the United Kingdom, Canada, Asia, and Mexico. Its Piping Systems segment manufactures copper tubes and fittings, plastic fittings, line sets, and related components for water distribution system, heating system, air-conditioning, and refrigeration applications, as well as drainage, waste, and vent systems.
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