Ashton Thomas Private Wealth LLC Buys New Stake in Mueller Industries, Inc. (NYSE:MLI)

Ashton Thomas Private Wealth LLC bought a new stake in Mueller Industries, Inc. (NYSE:MLI) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm bought 3,207 shares of the industrial products company’s stock, valued at approximately $183,000.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Group Inc. grew its stake in Mueller Industries by 0.5% during the 1st quarter. Vanguard Group Inc. now owns 12,359,057 shares of the industrial products company’s stock worth $666,524,000 after buying an additional 59,060 shares during the last quarter. TD Asset Management Inc increased its holdings in shares of Mueller Industries by 91.2% during the fourth quarter. TD Asset Management Inc now owns 89,300 shares of the industrial products company’s stock valued at $4,210,000 after acquiring an additional 42,600 shares in the last quarter. BNP Paribas Financial Markets raised its position in shares of Mueller Industries by 117.8% in the 4th quarter. BNP Paribas Financial Markets now owns 116,167 shares of the industrial products company’s stock valued at $5,477,000 after purchasing an additional 62,834 shares during the last quarter. Congress Asset Management Co. MA boosted its stake in Mueller Industries by 100.5% in the 4th quarter. Congress Asset Management Co. MA now owns 200,898 shares of the industrial products company’s stock worth $9,472,000 after purchasing an additional 100,696 shares in the last quarter. Finally, Perpetual Ltd increased its stake in Mueller Industries by 9.8% during the 1st quarter. Perpetual Ltd now owns 174,952 shares of the industrial products company’s stock valued at $9,435,000 after purchasing an additional 15,547 shares in the last quarter. 94.50% of the stock is owned by hedge funds and other institutional investors.

Mueller Industries Trading Up 1.7 %

NYSE:MLI opened at $68.26 on Friday. The company has a market capitalization of $7.75 billion, a P/E ratio of 13.68 and a beta of 1.03. Mueller Industries, Inc. has a 12 month low of $34.96 and a 12 month high of $72.83. The firm has a fifty day simple moving average of $66.59 and a 200-day simple moving average of $59.06.

Mueller Industries (NYSE:MLI) last issued its quarterly earnings results on Tuesday, July 23rd. The industrial products company reported $1.41 EPS for the quarter, topping analysts’ consensus estimates of $1.29 by $0.12. The company had revenue of $997.75 million during the quarter. Mueller Industries had a return on equity of 22.86% and a net margin of 16.19%.

Mueller Industries Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, September 20th. Investors of record on Friday, September 6th will be given a $0.20 dividend. The ex-dividend date of this dividend is Friday, September 6th. This represents a $0.80 dividend on an annualized basis and a yield of 1.17%. Mueller Industries’s dividend payout ratio is currently 16.03%.

Insider Buying and Selling

In other news, Director John B. Hansen sold 8,000 shares of the company’s stock in a transaction on Friday, August 9th. The shares were sold at an average price of $67.24, for a total value of $537,920.00. Following the sale, the director now directly owns 95,914 shares of the company’s stock, valued at approximately $6,449,257.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director John B. Hansen sold 8,000 shares of the business’s stock in a transaction on Friday, August 9th. The shares were sold at an average price of $67.24, for a total transaction of $537,920.00. Following the completion of the transaction, the director now directly owns 95,914 shares in the company, valued at $6,449,257.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Gregory L. Christopher sold 50,000 shares of the company’s stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $69.92, for a total transaction of $3,496,000.00. Following the completion of the sale, the chief executive officer now directly owns 1,214,311 shares in the company, valued at $84,904,625.12. The disclosure for this sale can be found here. In the last quarter, insiders have sold 103,000 shares of company stock worth $7,081,770. 2.80% of the stock is owned by company insiders.

Mueller Industries 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.