Commonwealth Equity Services LLC bought a new position in Mueller Industries, Inc. (NYSE:MLI) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 50,945 shares of the industrial products company’s stock, valued at approximately $1,503,000. Commonwealth Equity Services LLC owned approximately 0.09% of Mueller Industries at the end of the most recent quarter.
Several other institutional investors have also bought and sold shares of MLI. Quantbot Technologies LP bought a new stake in shares of Mueller Industries in the 1st quarter worth $174,000. Raymond James Financial Services Advisors Inc. bought a new stake in shares of Mueller Industries in the 2nd quarter worth $203,000. Global X Management Co. LLC increased its holdings in shares of Mueller Industries by 108.9% in the 1st quarter. Global X Management Co. LLC now owns 8,335 shares of the industrial products company’s stock worth $218,000 after purchasing an additional 4,345 shares in the last quarter. Advisor Partners LLC bought a new stake in shares of Mueller Industries in the 2nd quarter worth $256,000. Finally, SG Americas Securities LLC increased its holdings in shares of Mueller Industries by 101.4% in the 1st quarter. SG Americas Securities LLC now owns 10,694 shares of the industrial products company’s stock worth $280,000 after purchasing an additional 5,384 shares in the last quarter. 91.17% of the stock is owned by institutional investors and hedge funds.
A number of research firms have commented on MLI. TheStreet raised Mueller Industries from a “c” rating to a “b-” rating in a report on Friday, May 18th. Boenning Scattergood began coverage on Mueller Industries in a report on Friday, May 18th. They issued a “neutral” rating for the company.
In other news, insider Daniel R. Corbin sold 3,000 shares of the firm’s stock in a transaction on Tuesday, August 7th. The stock was sold at an average price of $32.44, for a total value of $97,320.00. Following the transaction, the insider now directly owns 61,352 shares in the company, valued at approximately $1,990,258.88. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director John B. Hansen sold 4,000 shares of the firm’s stock in a transaction on Thursday, July 26th. The stock was sold at an average price of $32.25, for a total value of $129,000.00. Following the completion of the transaction, the director now owns 45,607 shares in the company, valued at $1,470,825.75. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 9,500 shares of company stock worth $306,220. Company insiders own 2.80% of the company’s stock.
Mueller Industries stock opened at $31.73 on Friday. The firm has a market capitalization of $1.85 billion, a price-to-earnings ratio of 21.30 and a beta of 1.44. Mueller Industries, Inc. has a 12 month low of $25.26 and a 12 month high of $37.57. The company has a debt-to-equity ratio of 0.98, a current ratio of 3.43 and a quick ratio of 2.35.
Mueller Industries (NYSE:MLI) last posted its earnings results on Tuesday, July 24th. The industrial products company reported $0.58 EPS for the quarter, topping the Zacks’ consensus estimate of $0.54 by $0.04. The business had revenue of $662.77 million during the quarter, compared to analyst estimates of $663.41 million. Mueller Industries had a return on equity of 16.10% and a net margin of 3.59%. equities research analysts forecast that Mueller Industries, Inc. will post 1.82 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 21st. Stockholders of record on Friday, September 7th will be paid a $0.10 dividend. The ex-dividend date is Thursday, September 6th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.26%. Mueller Industries’s dividend payout ratio (DPR) is currently 26.85%.
Mueller Industries Company Profile
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.
Further Reading: Average Daily Trade Volume – What It Means In Stock Trading
Receive News & Ratings for Mueller Industries Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Mueller Industries and related companies with MarketBeat.com's FREE daily email newsletter.