F&V Capital Management LLC Increases Stake in Mueller Industries, Inc. (NYSE:MLI)

F&V Capital Management LLC lifted its stake in shares of Mueller Industries, Inc. (NYSE:MLI) by 1.4% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 167,170 shares of the industrial products company’s stock after buying an additional 2,280 shares during the quarter. Mueller Industries comprises 2.7% of F&V Capital Management LLC’s portfolio, making the stock its 20th largest position. F&V Capital Management LLC owned approximately 0.15% of Mueller Industries worth $9,015,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently modified their holdings of the company. Beaird Harris Wealth Management LLC bought a new stake in Mueller Industries during the third quarter worth about $30,000. Fifth Third Bancorp boosted its stake in Mueller Industries by 124.3% during the fourth quarter. Fifth Third Bancorp now owns 527 shares of the industrial products company’s stock worth $25,000 after acquiring an additional 292 shares in the last quarter. Larson Financial Group LLC boosted its stake in Mueller Industries by 100.0% during the fourth quarter. Larson Financial Group LLC now owns 598 shares of the industrial products company’s stock worth $28,000 after acquiring an additional 299 shares in the last quarter. Montag A & Associates Inc. bought a new stake in Mueller Industries during the fourth quarter worth about $34,000. Finally, CWM LLC boosted its stake in Mueller Industries by 36.9% during the first quarter. CWM LLC now owns 827 shares of the industrial products company’s stock worth $45,000 after acquiring an additional 223 shares in the last quarter. Hedge funds and other institutional investors own 94.50% of the company’s stock.

Insider Transactions at Mueller Industries

In other news, CFO Jeffrey Andrew Martin sold 52,436 shares of the company’s stock in a transaction that occurred on Friday, April 26th. The shares were sold at an average price of $57.25, for a total value of $3,001,961.00. Following the transaction, the chief financial officer now owns 313,529 shares in the company, valued at $17,949,535.25. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, Director Elizabeth M. Donovan sold 2,000 shares of the stock in a transaction that occurred on Thursday, May 30th. The shares were sold at an average price of $57.73, for a total transaction of $115,460.00. Following the transaction, the director now owns 24,733 shares in the company, valued at $1,427,836.09. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Jeffrey Andrew Martin sold 52,436 shares of the company’s stock in a transaction that occurred on Friday, April 26th. The shares were sold at an average price of $57.25, for a total transaction of $3,001,961.00. Following the sale, the chief financial officer now directly owns 313,529 shares of the company’s stock, valued at $17,949,535.25. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 61,169 shares of company stock worth $3,506,762. Corporate insiders own 2.80% of the company’s stock.

Mueller Industries Stock Down 2.0 %

Shares of NYSE MLI traded down $1.13 during midday trading on Wednesday, hitting $55.85. The stock had a trading volume of 716,355 shares, compared to its average volume of 666,346. The business’s 50 day moving average is $56.83 and its 200-day moving average is $51.93. The company has a market cap of $6.34 billion, a P/E ratio of 11.24 and a beta of 1.07. Mueller Industries, Inc. has a 52 week low of $34.96 and a 52 week high of $60.31.

Mueller Industries (NYSE:MLI) last issued its earnings results on Tuesday, April 23rd. The industrial products company reported $1.21 earnings per share (EPS) for the quarter. The firm had revenue of $849.65 million for the quarter. Mueller Industries had a net margin of 17.22% and a return on equity of 24.69%.

Mueller Industries Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, June 21st. Stockholders of record on Friday, June 7th were paid a $0.20 dividend. The ex-dividend date was Friday, June 7th. This represents a $0.80 annualized dividend and a dividend yield of 1.43%. Mueller Industries’s dividend payout ratio is presently 16.03%.

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.