Mueller Industries, Inc. (NYSE:MLI) Shares Sold by Moran Wealth Management LLC

Moran Wealth Management LLC reduced its stake in shares of Mueller Industries, Inc. (NYSE:MLI) by 2.6% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 188,881 shares of the industrial products company’s stock after selling 5,072 shares during the period. Moran Wealth Management LLC owned 0.17% of Mueller Industries worth $14,990,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in MLI. Wealth Enhancement Advisory Services LLC boosted its stake in Mueller Industries by 17.6% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 5,160 shares of the industrial products company’s stock worth $382,000 after buying an additional 772 shares during the last quarter. Assetmark Inc. raised its holdings in shares of Mueller Industries by 20.8% during the 3rd quarter. Assetmark Inc. now owns 122,625 shares of the industrial products company’s stock worth $9,087,000 after acquiring an additional 21,119 shares during the period. Atria Investments Inc boosted its position in shares of Mueller Industries by 2.5% during the 3rd quarter. Atria Investments Inc now owns 12,396 shares of the industrial products company’s stock valued at $919,000 after acquiring an additional 302 shares during the last quarter. Meritage Portfolio Management grew its holdings in shares of Mueller Industries by 11.4% in the third quarter. Meritage Portfolio Management now owns 21,579 shares of the industrial products company’s stock valued at $1,599,000 after purchasing an additional 2,215 shares during the period. Finally, Versor Investments LP acquired a new stake in Mueller Industries during the third quarter worth about $674,000. 94.50% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other Mueller Industries news, Director Scott Jay Goldman sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, February 13th. The stock was sold at an average price of $79.81, for a total value of $798,100.00. Following the sale, the director now owns 56,098 shares of the company’s stock, valued at $4,477,181.38. The trade was a 15.13 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 2.80% of the company’s stock.

Mueller Industries Stock Performance

Shares of Mueller Industries stock opened at $82.17 on Monday. The stock has a 50 day moving average of $80.14 and a 200 day moving average of $78.72. The firm has a market capitalization of $9.31 billion, a price-to-earnings ratio of 15.47 and a beta of 0.99. Mueller Industries, Inc. has a fifty-two week low of $50.84 and a fifty-two week 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 analysts’ consensus estimates of $1.12 by $0.09. Mueller Industries had a return on equity of 22.97% and a net margin of 16.05%.

Mueller Industries Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, March 14th will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Friday, March 14th. This is a boost from Mueller Industries’s previous quarterly dividend of $0.20. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.22%. Mueller Industries’s dividend payout ratio (DPR) is currently 18.83%.

Analyst Upgrades and Downgrades

Separately, Northcoast Research upgraded shares of Mueller Industries from a “neutral” rating to a “buy” rating and set a $105.00 target price on the stock in a report on Wednesday, December 11th.

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.