Millington Financial Advisors LLC Sells 1,551 Shares of Mueller Industries, Inc. (NYSE:MLI)

Millington Financial Advisors LLC lowered its holdings in Mueller Industries, Inc. (NYSE:MLI) by 4.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 34,107 shares of the industrial products company’s stock after selling 1,551 shares during the quarter. Mueller Industries accounts for about 1.6% of Millington Financial Advisors LLC’s investment portfolio, making the stock its 18th biggest holding. Millington Financial Advisors LLC’s holdings in Mueller Industries were worth $2,661,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of MLI. BankPlus Trust Department bought a new position in Mueller Industries during the fourth quarter valued at approximately $359,000. Navellier & Associates Inc. raised its stake in Mueller Industries by 21.9% during the 4th quarter. Navellier & Associates Inc. now owns 17,753 shares of the industrial products company’s stock valued at $1,409,000 after buying an additional 3,190 shares during the last quarter. Allianz Asset Management GmbH lifted its holdings in shares of Mueller Industries by 135.7% during the 4th quarter. Allianz Asset Management GmbH now owns 508,333 shares of the industrial products company’s stock valued at $40,341,000 after buying an additional 292,697 shares during the period. WealthBridge Capital Management LLC lifted its holdings in shares of Mueller Industries by 28.7% during the 4th quarter. WealthBridge Capital Management LLC now owns 4,135 shares of the industrial products company’s stock valued at $328,000 after buying an additional 923 shares during the period. Finally, Convergence Investment Partners LLC boosted its stake in shares of Mueller Industries by 27.6% in the 4th quarter. Convergence Investment Partners LLC now owns 22,649 shares of the industrial products company’s stock worth $1,797,000 after buying an additional 4,893 shares during the last quarter. 94.50% of the stock is owned by institutional investors.

Mueller Industries Stock Up 1.6 %

Shares of NYSE:MLI opened at $79.66 on Tuesday. The stock has a market capitalization of $9.06 billion, a PE ratio of 15.00 and a beta of 0.98. The firm’s 50 day moving average price is $80.22 and its 200-day moving average price is $77.99. Mueller Industries, Inc. has a twelve month low of $49.10 and a twelve month high of $96.81.

Mueller Industries (NYSE:MLI) last released its quarterly earnings results on Tuesday, February 4th. The industrial products company reported $1.21 earnings per share for the quarter, topping the consensus estimate of $1.12 by $0.09. Mueller Industries had a net margin of 16.05% and a return on equity of 22.97%.

Mueller Industries Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 14th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.26%. This is a positive change from Mueller Industries’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend is Friday, March 14th. Mueller Industries’s dividend payout ratio is currently 18.83%.

Insiders Place Their Bets

In other Mueller Industries news, Director Scott Jay Goldman sold 10,000 shares of the company’s stock in a transaction that occurred on Thursday, February 13th. The shares were sold at an average price of $79.81, for a total value of $798,100.00. Following the completion of the transaction, the director now directly owns 56,098 shares in the company, valued at $4,477,181.38. This represents a 15.13 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 2.80% of the stock is owned by company insiders.

Analyst Ratings Changes

Separately, Northcoast Research upgraded Mueller Industries from a “neutral” rating to a “buy” rating and set a $105.00 price objective for the company in a research report on Wednesday, December 11th.

About Mueller Industries

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.