Mueller Industries, Inc. $MLI Shares Acquired by Vanguard Personalized Indexing Management LLC

Vanguard Personalized Indexing Management LLC boosted its stake in Mueller Industries, Inc. (NYSE:MLI) by 9.1% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 14,650 shares of the industrial products company’s stock after acquiring an additional 1,223 shares during the quarter. Vanguard Personalized Indexing Management LLC’s holdings in Mueller Industries were worth $1,164,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in MLI. Total Wealth Planning & Management Inc. lifted its holdings in Mueller Industries by 2.5% during the second quarter. Total Wealth Planning & Management Inc. now owns 5,948 shares of the industrial products company’s stock valued at $473,000 after purchasing an additional 144 shares in the last quarter. Contravisory Investment Management Inc. lifted its stake in Mueller Industries by 6.2% in the 2nd quarter. Contravisory Investment Management Inc. now owns 2,611 shares of the industrial products company’s stock valued at $207,000 after buying an additional 152 shares in the last quarter. Golden State Wealth Management LLC boosted its holdings in Mueller Industries by 103.1% in the 1st quarter. Golden State Wealth Management LLC now owns 331 shares of the industrial products company’s stock worth $25,000 after buying an additional 168 shares during the last quarter. Rowlandmiller & PARTNERS.ADV increased its stake in Mueller Industries by 3.4% during the 2nd quarter. Rowlandmiller & PARTNERS.ADV now owns 5,560 shares of the industrial products company’s stock worth $442,000 after buying an additional 185 shares in the last quarter. Finally, Hohimer Wealth Management LLC raised its holdings in shares of Mueller Industries by 4.4% during the first quarter. Hohimer Wealth Management LLC now owns 4,463 shares of the industrial products company’s stock valued at $340,000 after acquiring an additional 187 shares during the last quarter. Hedge funds and other institutional investors own 94.50% of the company’s stock.

Insider Activity at Mueller Industries

In related news, Director John B. Hansen sold 1,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 12th. The stock was sold at an average price of $91.97, for a total value of $91,970.00. Following the transaction, the director directly owned 92,664 shares in the company, valued at approximately $8,522,308.08. This represents a 1.07% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 2.70% of the company’s stock.

Mueller Industries Stock Performance

NYSE MLI opened at $98.58 on Friday. The stock’s fifty day moving average is $97.24 and its two-hundred day moving average is $84.93. The firm has a market capitalization of $10.91 billion, a P/E ratio of 15.65 and a beta of 1.02. Mueller Industries, Inc. has a fifty-two week low of $66.84 and a fifty-two week high of $102.75.

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

Mueller Industries Dividend Announcement

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

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Mueller Industries in a research note on Wednesday, October 8th. Two equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $105.00.

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.