Caitlin John LLC Boosts Stake in Mueller Industries, Inc. $MLI

Caitlin John LLC increased its position in Mueller Industries, Inc. (NYSE:MLI) by 83.2% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 13,194 shares of the industrial products company’s stock after purchasing an additional 5,992 shares during the period. Caitlin John LLC’s holdings in Mueller Industries were worth $1,049,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Ridgewood Investments LLC raised its stake in Mueller Industries by 137.9% during the 2nd quarter. Ridgewood Investments LLC now owns 2,438 shares of the industrial products company’s stock valued at $194,000 after acquiring an additional 1,413 shares during the last quarter. Park Avenue Securities LLC raised its stake in Mueller Industries by 20.2% during the 2nd quarter. Park Avenue Securities LLC now owns 5,235 shares of the industrial products company’s stock valued at $416,000 after acquiring an additional 881 shares during the last quarter. BTC Capital Management Inc. raised its stake in 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 valued at $595,000 after acquiring an additional 203 shares during the last quarter. Farther Finance Advisors LLC raised its stake in 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 valued at $713,000 after acquiring an additional 2,102 shares during the last quarter. Finally, Wedge Capital Management L L P NC raised its stake in 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 valued at $13,031,000 after acquiring an additional 36,752 shares during the last quarter. 94.50% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

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

Mueller Industries Stock Down 0.6%

MLI opened at $99.62 on Monday. The business has a 50 day moving average price of $91.90 and a two-hundred day moving average price of $82.11. The company has a market cap of $11.03 billion, a PE ratio of 15.81 and a beta of 1.04. Mueller Industries, Inc. has a 52 week low of $66.84 and a 52 week high of $100.64.

Mueller Industries (NYSE:MLI) last posted its quarterly earnings data on Tuesday, July 22nd. The industrial products company reported $1.96 EPS for the quarter, beating the consensus estimate of $1.62 by $0.34. The firm had revenue of $1.14 billion during the quarter, compared to the consensus estimate of $1.12 billion. Mueller Industries had a return on equity of 24.47% and a net margin of 17.48%.The firm’s quarterly revenue was up 14.1% on a year-over-year basis.

Mueller Industries Dividend Announcement

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

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.