Baker Ellis Asset Management LLC Acquires 4,325 Shares of Mueller Industries, Inc. $MLI

Baker Ellis Asset Management LLC increased its position in Mueller Industries, Inc. (NYSE:MLI) by 10.1% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 47,190 shares of the industrial products company’s stock after purchasing an additional 4,325 shares during the period. Baker Ellis Asset Management LLC’s holdings in Mueller Industries were worth $3,750,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the stock. D.A. Davidson & CO. bought a new position in shares of Mueller Industries in the 1st quarter worth approximately $317,000. Fifth Third Bancorp grew its holdings in shares of Mueller Industries by 6.1% in the first quarter. Fifth Third Bancorp now owns 3,701 shares of the industrial products company’s stock valued at $282,000 after purchasing an additional 213 shares in the last quarter. SG Americas Securities LLC purchased a new position in Mueller Industries during the first quarter worth $303,000. Chevy Chase Trust Holdings LLC purchased a new position in Mueller Industries during the first quarter worth $4,140,000. Finally, KBC Group NV boosted its stake in shares of Mueller Industries by 391.3% during the first quarter. KBC Group NV now owns 20,575 shares of the industrial products company’s stock valued at $1,567,000 after purchasing an additional 16,387 shares during the period. Hedge funds and other institutional investors own 94.50% of the company’s stock.

Insiders Place Their Bets

In other news, Director John B. Hansen sold 1,000 shares of the firm’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 transaction of $91,970.00. Following the sale, the director owned 92,664 shares of the company’s stock, valued at $8,522,308.08. This trade represents a 1.07% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 2.70% of the company’s stock.

Mueller Industries Trading Up 0.2%

Shares of MLI opened at $99.08 on Monday. Mueller Industries, Inc. has a 12-month low of $66.84 and a 12-month high of $99.93. The firm has a fifty day moving average price of $90.42 and a 200-day moving average price of $81.42. The firm has a market capitalization of $10.97 billion, a P/E ratio of 15.73 and a beta of 1.05.

Mueller Industries (NYSE:MLI) last issued its quarterly earnings data 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. The firm had revenue of $1.14 billion for the quarter, compared to the consensus estimate of $1.12 billion. Mueller Industries had a net margin of 17.48% and a return on equity of 24.47%. The business’s revenue was up 14.1% on a year-over-year basis.

Mueller Industries Announces Dividend

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