Charles Schwab Investment Management Inc. Purchases 2,499 Shares of Mueller Industries, Inc. (NYSE:MLI)

Charles Schwab Investment Management Inc. increased its position in Mueller Industries, Inc. (NYSE:MLI) by 0.2% in the first quarter, Holdings Channel.com reports. The fund owned 1,380,805 shares of the industrial products company’s stock after acquiring an additional 2,499 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in Mueller Industries were worth $105,134,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. D.A. Davidson & CO. bought a new position in shares of Mueller Industries in the first quarter valued at approximately $317,000. Fifth Third Bancorp boosted its position in shares of Mueller Industries by 6.1% in the first quarter. Fifth Third Bancorp now owns 3,701 shares of the industrial products company’s stock valued at $282,000 after acquiring an additional 213 shares during the period. SG Americas Securities LLC bought a new position in shares of Mueller Industries in the first quarter valued at approximately $303,000. Chevy Chase Trust Holdings LLC bought a new position in shares of Mueller Industries in the first quarter valued at approximately $4,140,000. Finally, KBC Group NV boosted its position in shares of Mueller Industries by 391.3% in the first quarter. KBC Group NV now owns 20,575 shares of the industrial products company’s stock valued at $1,567,000 after acquiring an additional 16,387 shares during the period. 94.50% of the stock is currently owned by institutional investors.

Mueller Industries Trading Up 3.1%

MLI stock opened at $92.75 on Wednesday. Mueller Industries, Inc. has a 12 month low of $65.24 and a 12 month high of $96.81. The firm has a market capitalization of $10.27 billion, a P/E ratio of 14.72 and a beta of 1.02. The firm has a 50 day moving average of $82.39 and a 200-day moving average of $78.97.

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

Mueller Industries Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 19th. Shareholders of record on Friday, September 5th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date of this dividend is Friday, September 5th. Mueller Industries’s payout ratio is currently 15.87%.

Insider Buying and Selling

In other Mueller Industries news, Director John B. Hansen sold 1,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 12th. The shares were sold at an average price of $91.97, for a total value of $91,970.00. Following the completion of the transaction, the director owned 92,664 shares of the company’s stock, valued at $8,522,308.08. The trade was a 1.07% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 2.70% of the stock is currently owned by corporate insiders.

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.