EP Wealth Advisors LLC Boosts Holdings in Mueller Industries, Inc. (NYSE:MLI)

EP Wealth Advisors LLC boosted its position in Mueller Industries, Inc. (NYSE:MLI) by 11.7% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,701 shares of the industrial products company’s stock after purchasing an additional 389 shares during the quarter. EP Wealth Advisors LLC’s holdings in Mueller Industries were worth $294,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. New Age Alpha Advisors LLC purchased a new stake in Mueller Industries in the 4th quarter worth approximately $32,000. Quarry LP purchased a new stake in Mueller Industries in the 4th quarter worth approximately $45,000. SBI Securities Co. Ltd. purchased a new stake in Mueller Industries in the 4th quarter worth approximately $47,000. Mirae Asset Global Investments Co. Ltd. purchased a new stake in Mueller Industries in the 4th quarter worth approximately $53,000. Finally, City State Bank purchased a new stake in Mueller Industries in the 4th quarter worth approximately $58,000. 94.50% of the stock is currently owned by hedge funds and other institutional investors.

Mueller Industries Price Performance

NYSE MLI opened at $78.84 on Wednesday. Mueller Industries, Inc. has a 1 year low of $53.53 and a 1 year high of $96.81. The stock has a market capitalization of $8.72 billion, a PE ratio of 14.85 and a beta of 1.03. The company’s 50 day simple moving average is $75.43 and its two-hundred day simple moving average is $79.77.

Mueller Industries (NYSE:MLI) last issued its quarterly earnings results on Tuesday, April 22nd. The industrial products company reported $1.39 EPS for the quarter, topping analysts’ consensus estimates of $1.31 by $0.08. The firm had revenue of $1 billion for the quarter, compared to analyst estimates of $1 billion. Mueller Industries had a net margin of 16.05% and a return on equity of 22.97%.

Mueller Industries Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 20th. Stockholders of record on Friday, June 6th will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.27%. The ex-dividend date of this dividend is Friday, June 6th. Mueller Industries’s payout ratio is 18.21%.

Insider Transactions at Mueller Industries

In other news, Director Scott Jay Goldman sold 10,000 shares of the stock in a transaction on Thursday, February 13th. The shares were sold at an average price of $79.81, for a total value of $798,100.00. Following the transaction, the director now owns 56,098 shares of the company’s stock, valued at $4,477,181.38. This represents a 15.13% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director John B. Hansen sold 3,130 shares of the stock in a transaction on Monday, May 12th. The stock was sold at an average price of $78.07, for a total transaction of $244,359.10. Following the completion of the transaction, the director now directly owns 93,914 shares in the company, valued at $7,331,865.98. The trade was a 3.23% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 39,613 shares of company stock valued at $2,996,700 in the last quarter. Insiders own 2.70% of the company’s stock.

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.