Epoch Investment Partners Inc. Purchases 2,762 Shares of Mueller Industries, Inc. (NYSE:MLI)

Epoch Investment Partners Inc. boosted its position in Mueller Industries, Inc. (NYSE:MLI) by 1.2% in the first quarter, HoldingsChannel.com reports. The firm owned 236,424 shares of the industrial products company’s stock after acquiring an additional 2,762 shares during the period. Epoch Investment Partners Inc.’s holdings in Mueller Industries were worth $12,750,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in MLI. Public Employees Retirement System of Ohio bought a new position in Mueller Industries in the third quarter worth about $192,000. Raymond James & Associates grew its stake in shares of Mueller Industries by 99.2% during the fourth quarter. Raymond James & Associates now owns 61,800 shares of the industrial products company’s stock worth $2,914,000 after acquiring an additional 30,777 shares during the last quarter. Raymond James Financial Services Advisors Inc. grew its stake in shares of Mueller Industries by 100.7% during the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 11,811 shares of the industrial products company’s stock worth $557,000 after acquiring an additional 5,927 shares during the last quarter. Blue Trust Inc. grew its stake in shares of Mueller Industries by 41.2% during the fourth quarter. Blue Trust Inc. now owns 1,699 shares of the industrial products company’s stock worth $80,000 after acquiring an additional 496 shares during the last quarter. Finally, State of Alaska Department of Revenue grew its stake in shares of Mueller Industries by 97.5% during the fourth quarter. State of Alaska Department of Revenue now owns 69,844 shares of the industrial products company’s stock worth $3,293,000 after acquiring an additional 34,483 shares during the last quarter. 94.50% of the stock is currently owned by institutional investors.

Mueller Industries Stock Performance

Shares of MLI stock opened at $70.13 on Monday. Mueller Industries, Inc. has a fifty-two week low of $34.96 and a fifty-two week high of $70.58. The firm has a market capitalization of $7.95 billion, a price-to-earnings ratio of 14.05 and a beta of 1.06. The stock’s 50-day simple moving average is $58.47 and its 200-day simple moving average is $54.30.

Mueller Industries (NYSE:MLI) last issued its quarterly earnings results on Tuesday, July 23rd. The industrial products company reported $1.41 earnings per share for the quarter, topping 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 business had revenue of $997.75 million for the quarter.

Mueller Industries Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, June 21st. Investors of record on Friday, June 7th were given a $0.20 dividend. The ex-dividend date was Friday, June 7th. This represents a $0.80 dividend on an annualized basis and a yield of 1.14%. Mueller Industries’s dividend payout ratio is currently 16.03%.

Insider Activity at Mueller Industries

In related news, Director John B. Hansen sold 2,733 shares of the company’s stock in a transaction that occurred on Monday, May 13th. The stock was sold at an average price of $58.61, for a total value of $160,181.13. Following the sale, the director now owns 103,914 shares in the company, valued at $6,090,399.54. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other Mueller Industries news, Director Elizabeth M. Donovan sold 2,000 shares of the company’s stock in a transaction that occurred on Thursday, May 30th. The stock was sold at an average price of $57.73, for a total value of $115,460.00. Following the sale, the director now owns 24,733 shares in the company, valued at approximately $1,427,836.09. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director John B. Hansen sold 2,733 shares of the company’s stock in a transaction that occurred on Monday, May 13th. The stock was sold at an average price of $58.61, for a total value of $160,181.13. Following the completion of the sale, the director now owns 103,914 shares in the company, valued at approximately $6,090,399.54. The disclosure for this sale can be found here. 2.80% of the stock is owned by 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.