Private Advisor Group LLC, a prominent institutional investor, recently acquired a new stake in Mueller Industries, Inc. in the 1st quarter, indicating confidence in the industrial products company. The acquisition of 8,539 shares valued at $461,000 reflects a growing trend among investors towards Mueller Industries.
Other hedge funds and institutional investors also made significant changes to their positions in the company. TD Asset Management Inc, Cary Street Partners Investment Advisory LLC, BNP Paribas Financial Markets, Congress Asset Management Co. MA, and F&V Capital Management LLC all increased their holdings in Mueller Industries during the 4th quarter. Together, institutional investors now own 94.50% of the company’s stock, showcasing a strong interest in Mueller Industries.
On the trading front, Mueller Industries saw its shares trading up by 1.0% on Monday, opening at $59.90. The company’s consistent performance is reflected in its market capitalization of $6.80 billion, a price-to-earnings ratio of 12.00, and a beta of 1.06. The recent earnings report on April 23rd revealed a strong performance with an EPS of $1.21 and a net margin of 17.22%.
Moreover, Mueller Industries announced a quarterly dividend, confirming its commitment to its shareholders. The dividend payout ratio is 16.03%, with a dividend yield of 1.34%. With insider activity also in the spotlight, recent selling transactions by directors John B. Hansen and Elizabeth M. Donovan have been disclosed. Overall, Mueller Industries continues to attract investor attention with its solid financial performance and strategic initiatives.
