Toroso Investments LLC Makes New Investment in Mueller Industries, Inc. (NYSE:MLI)

Toroso Investments LLC purchased a new position in Mueller Industries, Inc. (NYSE:MLI) during the 1st quarter, according to its most recent disclosure with the SEC. The fund purchased 47,337 shares of the industrial products company’s stock, valued at approximately $3,478,000. Toroso Investments LLC owned 0.08% of Mueller Industries as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in MLI. Raymond James & Associates bought a new position in Mueller Industries in the 1st quarter worth approximately $379,000. HighTower Advisors LLC increased its position in shares of Mueller Industries by 18.7% during the first quarter. HighTower Advisors LLC now owns 4,400 shares of the industrial products company’s stock valued at $239,000 after purchasing an additional 693 shares during the period. Citigroup Inc. increased its position in shares of Mueller Industries by 9.4% during the first quarter. Citigroup Inc. now owns 49,850 shares of the industrial products company’s stock valued at $2,700,000 after purchasing an additional 4,289 shares during the period. Natixis Advisors L.P. increased its position in shares of Mueller Industries by 18.1% during the first quarter. Natixis Advisors L.P. now owns 11,931 shares of the industrial products company’s stock valued at $646,000 after purchasing an additional 1,826 shares during the period. Finally, Acadian Asset Management LLC increased its position in shares of Mueller Industries by 607.0% during the first quarter. Acadian Asset Management LLC now owns 11,949 shares of the industrial products company’s stock valued at $644,000 after purchasing an additional 10,259 shares during the period. 94.50% of the stock is owned by institutional investors.

Mueller Industries Trading Up 2.7 %

MLI opened at $74.64 on Friday. The stock has a market cap of $4.24 billion, a PE ratio of 6.55 and a beta of 1.11. Mueller Industries, Inc. has a 1 year low of $57.10 and a 1 year high of $91.93. The stock’s 50 day simple moving average is $79.83 and its 200-day simple moving average is $77.07.

Mueller Industries (NYSE:MLI) last released its quarterly earnings data on Tuesday, July 25th. The industrial products company reported $3.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.40 by $0.72. The business had revenue of $897.00 million for the quarter, compared to analysts’ expectations of $1.04 billion. Mueller Industries had a return on equity of 33.92% and a net margin of 17.46%. The firm’s quarterly revenue was down 22.0% on a year-over-year basis.

Mueller Industries Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Friday, September 1st will be paid a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 1.61%. The ex-dividend date of this dividend is Thursday, August 31st. Mueller Industries’s dividend payout ratio is 10.54%.

Analyst Ratings Changes

Separately, StockNews.com upgraded Mueller Industries from a “hold” rating to a “buy” rating in a research report on Monday.

Insider Activity at Mueller Industries

In related news, Director John B. Hansen sold 2,500 shares of the business’s stock in a transaction on Thursday, August 3rd. The stock was sold at an average price of $78.33, for a total value of $195,825.00. Following the sale, the director now owns 59,681 shares of the company’s stock, valued at approximately $4,674,812.73. The sale was disclosed in a legal filing with the SEC, which is available through this link. 2.80% of the stock is owned by insiders.

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; PEX plumbing and radiant systems; and plumbing-related fittings and plastic injection tooling.