TFG Advisers LLC Makes New Investment in Mueller Industries, Inc. $MLI

TFG Advisers LLC acquired a new position in shares of Mueller Industries, Inc. (NYSE:MLI) during the 2nd quarter, HoldingsChannel.com reports. The fund acquired 2,604 shares of the industrial products company’s stock, valued at approximately $207,000.

Other institutional investors have also recently bought and sold shares of the company. Truist Financial Corp increased its holdings in shares of Mueller Industries by 65.2% during the 2nd quarter. Truist Financial Corp now owns 127,641 shares of the industrial products company’s stock worth $10,144,000 after buying an additional 50,388 shares during the last quarter. Janney Montgomery Scott LLC boosted its stake in Mueller Industries by 21.3% in the second quarter. Janney Montgomery Scott LLC now owns 24,927 shares of the industrial products company’s stock valued at $1,981,000 after acquiring an additional 4,370 shares during the period. Ausbil Investment Management Ltd grew its holdings in shares of Mueller Industries by 16.4% during the second quarter. Ausbil Investment Management Ltd now owns 46,369 shares of the industrial products company’s stock valued at $3,685,000 after purchasing an additional 6,516 shares during the last quarter. Uncommon Cents Investing LLC raised its position in shares of Mueller Industries by 8.1% during the 2nd quarter. Uncommon Cents Investing LLC now owns 58,665 shares of the industrial products company’s stock worth $4,662,000 after purchasing an additional 4,405 shares during the period. Finally, Advisors Management Group Inc. ADV lifted its holdings in shares of Mueller Industries by 51.0% in the 2nd quarter. Advisors Management Group Inc. ADV now owns 51,024 shares of the industrial products company’s stock worth $4,055,000 after purchasing an additional 17,239 shares during the last quarter. 94.50% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Mueller Industries

In other Mueller Industries news, Director John B. Hansen sold 1,000 shares of the business’s stock in a transaction dated 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 directly owned 92,664 shares in the company, valued at approximately $8,522,308.08. The trade was a 1.07% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 2.70% of the stock is owned by corporate insiders.

Mueller Industries Price Performance

Shares of MLI opened at $100.52 on Friday. Mueller Industries, Inc. has a 12 month low of $66.84 and a 12 month high of $102.75. The stock has a fifty day moving average price of $94.61 and a 200 day moving average price of $83.34. The company has a market cap of $11.13 billion, a P/E ratio of 15.96 and a beta of 1.02.

Mueller Industries (NYSE:MLI) last posted 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. The firm had revenue of $1.14 billion during the quarter, compared to analyst estimates of $1.12 billion. Mueller Industries had a net margin of 17.48% and a return on equity of 24.47%. The firm’s revenue was up 14.1% compared to the same quarter last year.

Mueller Industries Dividend Announcement

The business 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 was Friday, September 5th. Mueller Industries’s dividend payout ratio 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.