First Trust Advisors LP Has $8.42 Million Stake in Mueller Industries, Inc. (MLI)
First Trust Advisors LP grew its position in Mueller Industries, Inc. (NYSE:MLI) by 13.8% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 285,386 shares of the industrial products company’s stock after acquiring an additional 34,630 shares during the period. First Trust Advisors LP owned about 0.50% of Mueller Industries worth $8,422,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Schwab Charles Investment Management Inc. boosted its holdings in shares of Mueller Industries by 8.4% during the 1st quarter. Schwab Charles Investment Management Inc. now owns 612,363 shares of the industrial products company’s stock worth $16,020,000 after buying an additional 47,247 shares during the period. Swiss National Bank boosted its holdings in shares of Mueller Industries by 3.4% during the 1st quarter. Swiss National Bank now owns 95,400 shares of the industrial products company’s stock worth $2,496,000 after buying an additional 3,100 shares during the period. Citadel Advisors LLC boosted its holdings in shares of Mueller Industries by 41.5% during the 1st quarter. Citadel Advisors LLC now owns 130,824 shares of the industrial products company’s stock worth $3,422,000 after buying an additional 38,366 shares during the period. Gamco Investors INC. ET AL boosted its holdings in shares of Mueller Industries by 5.4% during the 1st quarter. Gamco Investors INC. ET AL now owns 4,020,885 shares of the industrial products company’s stock worth $105,186,000 after buying an additional 205,505 shares during the period. Finally, Wells Fargo & Company MN boosted its holdings in shares of Mueller Industries by 22.6% during the 1st quarter. Wells Fargo & Company MN now owns 2,693,809 shares of the industrial products company’s stock worth $70,470,000 after buying an additional 497,397 shares during the period. 91.53% of the stock is owned by institutional investors.
In other Mueller Industries news, Director John B. Hansen sold 4,000 shares of Mueller Industries stock in a transaction dated Thursday, July 26th. The shares were sold at an average price of $32.25, for a total value of $129,000.00. Following the completion of the sale, the director now owns 45,607 shares in the company, valued at approximately $1,470,825.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Anthony Steinriede sold 2,500 shares of Mueller Industries stock in a transaction dated Monday, July 30th. The stock was sold at an average price of $31.96, for a total transaction of $79,900.00. Following the completion of the sale, the vice president now owns 9,669 shares of the company’s stock, valued at approximately $309,021.24. The disclosure for this sale can be found here. Insiders sold a total of 9,500 shares of company stock valued at $306,220 in the last quarter. Corporate insiders own 2.80% of the company’s stock.
Mueller Industries (NYSE:MLI) last issued its quarterly earnings data on Tuesday, July 24th. The industrial products company reported $0.58 earnings per share for the quarter, topping the consensus estimate of $0.54 by $0.04. Mueller Industries had a net margin of 3.59% and a return on equity of 16.10%. The business had revenue of $662.77 million during the quarter, compared to analysts’ expectations of $663.41 million. research analysts forecast that Mueller Industries, Inc. will post 1.82 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 21st. Shareholders of record on Friday, September 7th will be paid a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 1.20%. The ex-dividend date of this dividend is Thursday, September 6th. Mueller Industries’s dividend payout ratio (DPR) is 26.85%.
Several analysts recently commented on the stock. TheStreet raised shares of Mueller Industries from a “c” rating to a “b-” rating in a report on Friday, May 18th. Boenning Scattergood assumed coverage on shares of Mueller Industries in a report on Friday, May 18th. They set a “neutral” rating for the company.
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.
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