Nationwide Fund Advisors reduced its stake in Mueller Industries Inc. (NYSE:MLI) by 0.4% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 157,055 shares of the company’s stock after selling 697 shares during the period. Nationwide Fund Advisors owned about 0.27% of Mueller Industries worth $5,007,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in MLI. Gamco Investors INC. ET AL increased its position in shares of Mueller Industries by 3.3% in the second quarter. Gamco Investors INC. ET AL now owns 4,115,500 shares of the company’s stock valued at $131,202,000 after buying an additional 132,846 shares during the period. Wellington Management Group LLP increased its position in shares of Mueller Industries by 5.7% in the first quarter. Wellington Management Group LLP now owns 3,943,848 shares of the company’s stock valued at $116,027,000 after buying an additional 211,972 shares during the period. BlackRock Fund Advisors increased its position in shares of Mueller Industries by 0.7% in the first quarter. BlackRock Fund Advisors now owns 3,625,342 shares of the company’s stock valued at $106,658,000 after buying an additional 24,339 shares during the period. Gabelli Funds LLC increased its position in shares of Mueller Industries by 1.4% in the second quarter. Gabelli Funds LLC now owns 2,137,600 shares of the company’s stock valued at $68,147,000 after buying an additional 29,000 shares during the period. Finally, BlackRock Institutional Trust Company N.A. increased its position in shares of Mueller Industries by 4.3% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 1,482,236 shares of the company’s stock valued at $43,607,000 after buying an additional 60,823 shares during the period. 92.10% of the stock is owned by hedge funds and other institutional investors.
Shares of Mueller Industries Inc. (NYSE:MLI) traded down 0.22% on Friday, reaching $32.13. The company had a trading volume of 91,298 shares. The firm has a market capitalization of $1.84 billion, a PE ratio of 20.73 and a beta of 1.22. Mueller Industries Inc. has a 12 month low of $23.09 and a 12 month high of $35.52. The firm’s 50 day moving average is $33.63 and its 200 day moving average is $31.95.
Mueller Industries (NYSE:MLI) last posted its earnings results on Tuesday, July 19th. The company reported $0.49 EPS for the quarter, missing the Zacks’ consensus estimate of $0.55 by $0.06. Mueller Industries had a net margin of 4.25% and a return on equity of 10.15%. On average, equities research analysts expect that Mueller Industries Inc. will post $1.55 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Monday, September 19th. Shareholders of record on Friday, September 2nd were given a $0.10 dividend. The ex-dividend date was Wednesday, August 31st. This represents a $0.40 dividend on an annualized basis and a yield of 1.24%. Mueller Industries’s dividend payout ratio is currently 24.24%.
In other Mueller Industries news, VP Richard W. Corman sold 3,768 shares of Mueller Industries stock in a transaction on Thursday, August 25th. The stock was sold at an average price of $34.20, for a total value of $128,865.60. Following the sale, the vice president now owns 34,122 shares in the company, valued at $1,166,972.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 3.30% of the stock is owned by company insiders.
About Mueller Industries
Mueller Industries, Inc (Mueller) is a manufacturer of copper, brass, aluminum and plastic products. The Company operates through two segments: Plumbing & Refrigeration and Original Equipment Manufacturers (OEM). Its Plumbing & Refrigeration segment consists of Standard Products (SPD), Great Lakes Copper Ltd.
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