Lingohr Asset Management GmbH Has $338,000 Position in Mueller Industries, Inc. $MLI

Lingohr Asset Management GmbH trimmed its position in shares of Mueller Industries, Inc. (NYSE:MLI) by 95.4% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,255 shares of the industrial products company’s stock after selling 87,839 shares during the quarter. Lingohr Asset Management GmbH’s holdings in Mueller Industries were worth $338,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in MLI. Golden State Wealth Management LLC grew its stake in Mueller Industries by 103.1% during the first quarter. Golden State Wealth Management LLC now owns 331 shares of the industrial products company’s stock worth $25,000 after buying an additional 168 shares during the last quarter. Brooklyn Investment Group lifted its position in shares of Mueller Industries by 267.3% during the first quarter. Brooklyn Investment Group now owns 382 shares of the industrial products company’s stock worth $29,000 after purchasing an additional 278 shares in the last quarter. Rise Advisors LLC acquired a new position in shares of Mueller Industries during the first quarter worth approximately $30,000. Wayfinding Financial LLC acquired a new position in shares of Mueller Industries during the first quarter worth approximately $34,000. Finally, Opal Wealth Advisors LLC acquired a new position in shares of Mueller Industries during the first quarter worth approximately $40,000. 94.50% of the stock is owned by institutional investors.

Mueller Industries Trading Up 0.2%

Shares of MLI stock opened at $99.08 on Monday. Mueller Industries, Inc. has a 1 year low of $66.84 and a 1 year high of $99.93. The firm’s 50 day moving average is $90.42 and its 200-day moving average is $81.42. The firm has a market capitalization of $10.97 billion, a price-to-earnings ratio of 15.73 and a beta of 1.05.

Mueller Industries (NYSE:MLI) last announced its earnings results on Tuesday, July 22nd. The industrial products company reported $1.96 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.62 by $0.34. Mueller Industries had a net margin of 17.48% and a return on equity of 24.47%. The company had revenue of $1.14 billion for the quarter, compared to analyst estimates of $1.12 billion. Mueller Industries’s revenue was up 14.1% compared to the same quarter last year.

Mueller Industries Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 19th. Shareholders of record on Friday, September 5th will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.0%. The ex-dividend date of this dividend is Friday, September 5th. Mueller Industries’s dividend payout ratio is presently 15.87%.

Insider Buying and Selling

In other Mueller Industries news, Director John B. Hansen sold 1,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 12th. The shares were sold at an average price of $91.97, for a total value of $91,970.00. Following the completion of the sale, the director owned 92,664 shares of the company’s stock, valued at approximately $8,522,308.08. This represents a 1.07% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 2.70% of the company’s stock.

Mueller Industries Company 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.