Farther Finance Advisors LLC Has $713,000 Stock Position in Mueller Industries, Inc. $MLI

Farther Finance Advisors LLC increased its holdings in shares of Mueller Industries, Inc. (NYSE:MLI) by 30.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,975 shares of the industrial products company’s stock after purchasing an additional 2,102 shares during the period. Farther Finance Advisors LLC’s holdings in Mueller Industries were worth $713,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of MLI. Nuveen LLC bought a new position in shares of Mueller Industries during the 1st quarter valued at about $54,072,000. AQR Capital Management LLC lifted its holdings in shares of Mueller Industries by 329.0% during the 1st quarter. AQR Capital Management LLC now owns 588,428 shares of the industrial products company’s stock valued at $43,926,000 after purchasing an additional 451,261 shares in the last quarter. Epoch Investment Partners Inc. lifted its holdings in shares of Mueller Industries by 222.8% during the 1st quarter. Epoch Investment Partners Inc. now owns 597,704 shares of the industrial products company’s stock valued at $45,509,000 after purchasing an additional 412,564 shares in the last quarter. TD Asset Management Inc bought a new position in shares of Mueller Industries during the 1st quarter valued at about $18,114,000. Finally, Bessemer Group Inc. lifted its holdings in shares of Mueller Industries by 78.2% during the 1st quarter. Bessemer Group Inc. now owns 443,281 shares of the industrial products company’s stock valued at $33,751,000 after purchasing an additional 194,463 shares in the last quarter. Institutional investors own 94.50% of the company’s stock.

Insider Transactions at Mueller Industries

In related news, Director John B. Hansen sold 1,000 shares of Mueller Industries stock in a transaction that occurred on Tuesday, August 12th. The stock was sold at an average price of $91.97, for a total value of $91,970.00. Following the sale, the director owned 92,664 shares of the company’s stock, valued at approximately $8,522,308.08. This trade represents a 1.07% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 2.70% of the company’s stock.

Mueller Industries Stock Performance

Shares of Mueller Industries stock opened at $100.01 on Friday. The business’s 50 day simple moving average is $93.12 and its 200 day simple moving average is $82.62. Mueller Industries, Inc. has a 52-week low of $66.84 and a 52-week high of $102.75. The firm has a market cap of $11.07 billion, a PE ratio of 15.87 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, beating analysts’ consensus estimates of $1.62 by $0.34. Mueller Industries had a return on equity of 24.47% and a net margin of 17.48%.The business had revenue of $1.14 billion for the quarter, compared to analyst estimates of $1.12 billion. The company’s quarterly revenue was up 14.1% on a year-over-year basis.

Mueller Industries Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, September 19th. Investors of record on Friday, September 5th were given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date of this dividend was Friday, September 5th. Mueller Industries’s dividend payout ratio (DPR) is currently 15.87%.

About Mueller Industries

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.