Epoch Investment Partners Inc. reduced its position in shares of Mueller Industries, Inc. (NYSE:MLI - Free Report) by 78.0% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 51,998 shares of the industrial products company's stock after selling 184,426 shares during the quarter. Epoch Investment Partners Inc.'s holdings in Mueller Industries were worth $2,961,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other large investors also recently added to or reduced their stakes in the business. International Assets Investment Management LLC bought a new stake in shares of Mueller Industries during the second quarter worth approximately $26,000. Federated Hermes Inc. bought a new stake in shares of Mueller Industries during the 2nd quarter valued at $28,000. Opal Wealth Advisors LLC acquired a new position in shares of Mueller Industries in the 2nd quarter valued at $30,000. LifeSteps Financial Inc. bought a new position in shares of Mueller Industries in the 1st quarter worth $43,000. Finally, CWM LLC grew its stake in shares of 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 purchasing an additional 223 shares during the period. 94.50% of the stock is currently owned by institutional investors and hedge funds.
NYSE:MLI opened at $71.81 on Tuesday. Mueller Industries, Inc. has a 1-year low of $34.96 and a 1-year high of $74.47. The firm has a market capitalization of $8.16 billion, a price-to-earnings ratio of 14.39 and a beta of 1.03. The business's 50-day moving average price is $68.48 and its two-hundred day moving average price is $60.18.
Mueller Industries (NYSE:MLI - Get Free Report) last announced its quarterly earnings results on Tuesday, July 23rd. The industrial products company reported $1.41 EPS for the quarter, beating analysts' consensus estimates of $1.29 by $0.12. Mueller Industries had a return on equity of 22.86% and a net margin of 16.19%. The company had revenue of $997.75 million during the quarter.
The company also recently declared a quarterly dividend, which was paid on Friday, September 20th. Stockholders of record on Friday, September 6th were given a dividend of $0.20 per share. The ex-dividend date of this dividend was Friday, September 6th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.11%. Mueller Industries's dividend payout ratio is 16.03%.
In other Mueller Industries news, Director John B. Hansen sold 8,000 shares of Mueller Industries stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $67.24, for a total transaction of $537,920.00. Following 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 filing with the SEC, which is accessible through this hyperlink. In related news, CEO Gregory L. Christopher sold 50,000 shares of the stock in a transaction that occurred on Thursday, August 22nd. The stock was 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 of the company's stock, valued at approximately $84,904,625.12. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director John B. Hansen sold 8,000 shares of the firm's stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $67.24, for a total transaction of $537,920.00. Following the sale, the director now owns 95,914 shares in the company, valued at $6,449,257.36. The disclosure for this sale can be found here. Insiders sold 103,000 shares of company stock valued at $7,081,770 in the last quarter. Company insiders own 2.80% of the company's stock.
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.
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider Mueller Industries, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Mueller Industries wasn't on the list.
While Mueller Industries currently has a "Hold" rating among analysts, top-rated analysts believe these five stocks are better buys.