UBS Asset Management Americas Inc. Has $1.71 Million Stock Position in Mueller Industries, Inc. (NYSE:MLI)

UBS Asset Management Americas Inc. grew its position in Mueller Industries, Inc. (NYSE:MLI) by 25.4% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 58,516 shares of the industrial products company’s stock after buying an additional 11,838 shares during the period. UBS Asset Management Americas Inc. owned approximately 0.10% of Mueller Industries worth $1,713,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in MLI. Premier Asset Management LLC acquired a new position in shares of Mueller Industries in the 2nd quarter valued at $220,000. Creative Planning acquired a new position in shares of Mueller Industries in the 2nd quarter valued at $230,000. GABELLI & Co INVESTMENT ADVISERS INC. boosted its stake in Mueller Industries by 14.3% in the 2nd quarter. GABELLI & Co INVESTMENT ADVISERS INC. now owns 8,000 shares of the industrial products company’s stock worth $234,000 after purchasing an additional 1,000 shares during the period. Aperio Group LLC boosted its stake in Mueller Industries by 25.4% in the 2nd quarter. Aperio Group LLC now owns 8,170 shares of the industrial products company’s stock worth $239,000 after purchasing an additional 1,655 shares during the period. Finally, RBF Capital LLC acquired a new position in Mueller Industries in the 2nd quarter worth $240,000. 91.71% of the stock is owned by institutional investors.

Shares of NYSE MLI opened at $28.11 on Friday. The firm has a market cap of $1.59 billion, a PE ratio of 15.11 and a beta of 1.39. The company has a current ratio of 3.24, a quick ratio of 1.91 and a debt-to-equity ratio of 0.83. Mueller Industries, Inc. has a 1-year low of $21.49 and a 1-year high of $34.24. The company has a fifty day moving average price of $27.58 and a 200 day moving average price of $28.66.

Mueller Industries (NYSE:MLI) last announced its earnings results on Tuesday, July 23rd. The industrial products company reported $0.58 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.51 by $0.07. The firm had revenue of $666.93 million during the quarter. Mueller Industries had a net margin of 3.66% and a return on equity of 19.00%. Mueller Industries’s revenue for the quarter was up .6% on a year-over-year basis. During the same period in the previous year, the company posted $0.58 earnings per share. Equities research analysts forecast that Mueller Industries, Inc. will post 1.52 EPS for the current year.

The business also recently announced a quarterly dividend, which was paid on Friday, September 20th. Investors of record on Friday, September 6th were paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 1.42%. The ex-dividend date of this dividend was Thursday, September 5th. Mueller Industries’s payout ratio is presently 21.51%.

In other Mueller Industries news, Director Gennaro J. Fulvio sold 10,383 shares of the business’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $26.62, for a total transaction of $276,395.46. Following the sale, the director now directly owns 2,000 shares of the company’s stock, valued at approximately $53,240. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Paul J. Flaherty sold 10,000 shares of the business’s stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $30.41, for a total transaction of $304,100.00. Following the sale, the director now directly owns 15,073 shares in the company, valued at $458,369.93. The disclosure for this sale can be found here. Insiders have sold a total of 26,196 shares of company stock worth $760,755 over the last three months. Insiders own 3.30% of the company’s stock.

A number of equities analysts recently weighed in on the stock. ValuEngine lowered shares of Mueller Industries from a “hold” rating to a “sell” rating in a research note on Thursday, August 1st. TheStreet lowered shares of Mueller Industries from a “b-” rating to a “c+” rating in a research note on Wednesday, September 4th. Finally, Zacks Investment Research lowered shares of Mueller Industries from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, September 25th.

About Mueller Industries

Mueller Industries, Inc engages in the manufacture of copper, brass, aluminum, and plastic products. It operates through the following segments: Piping Systems, Industrial Metals, and Climate. The Piping Systems segment consists of domestic piping systems group, Canadian operations, European operations, trading group, Jiangsu Mueller-Xingrong Copper Industries Limited, and Jungwoo Metal Ind.

See Also: Stock Portfolio Tracker

Want to see what other hedge funds are holding MLI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Mueller Industries, Inc. (NYSE:MLI).

Institutional Ownership by Quarter for Mueller Industries (NYSE:MLI)

Receive News & Ratings for Mueller Industries Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Mueller Industries and related companies with MarketBeat.com's FREE daily email newsletter.