Park Avenue Securities LLC Buys 881 Shares of Mueller Industries, Inc. $MLI

Park Avenue Securities LLC raised its stake in shares of Mueller Industries, Inc. (NYSE:MLI) by 20.2% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,235 shares of the industrial products company’s stock after acquiring an additional 881 shares during the period. Park Avenue Securities LLC’s holdings in Mueller Industries were worth $416,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the stock. BTC Capital Management Inc. raised its stake in shares of Mueller Industries by 2.8% during the 2nd quarter. BTC Capital Management Inc. now owns 7,508 shares of the industrial products company’s stock worth $595,000 after purchasing an additional 203 shares during the period. Farther Finance Advisors LLC raised its stake in shares of Mueller Industries by 30.6% during the 2nd quarter. Farther Finance Advisors LLC now owns 8,975 shares of the industrial products company’s stock worth $713,000 after purchasing an additional 2,102 shares during the period. Wedge Capital Management L L P NC raised its stake in shares of Mueller Industries by 28.9% during the 2nd quarter. Wedge Capital Management L L P NC now owns 163,968 shares of the industrial products company’s stock worth $13,031,000 after purchasing an additional 36,752 shares during the period. Assenagon Asset Management S.A. raised its stake in shares of Mueller Industries by 12.1% during the 2nd quarter. Assenagon Asset Management S.A. now owns 33,828 shares of the industrial products company’s stock worth $2,688,000 after purchasing an additional 3,650 shares during the period. Finally, Perpetual Ltd raised its stake in shares of Mueller Industries by 0.3% during the 2nd quarter. Perpetual Ltd now owns 164,361 shares of the industrial products company’s stock worth $13,062,000 after purchasing an additional 557 shares during the period. 94.50% of the stock is currently owned by institutional investors.

Mueller Industries Price Performance

NYSE MLI opened at $100.30 on Tuesday. The stock has a market capitalization of $11.10 billion, a price-to-earnings ratio of 15.92 and a beta of 1.05. Mueller Industries, Inc. has a one year low of $66.84 and a one year high of $102.75. The business’s fifty day moving average is $93.80 and its 200-day moving average is $82.96.

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

Mueller Industries Announces Dividend

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

Insiders Place Their Bets

In related news, Director John B. Hansen sold 1,000 shares of Mueller Industries stock in a transaction dated Tuesday, August 12th. The stock was 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 trade represents a 1.07% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company 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.