Stratos Wealth Partners LTD. Purchases 1,963 Shares of Mueller Industries, Inc. (NYSE:MLI)

Stratos Wealth Partners LTD. increased its holdings in Mueller Industries, Inc. (NYSE:MLI) by 2.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 77,397 shares of the industrial products company’s stock after acquiring an additional 1,963 shares during the period. Stratos Wealth Partners LTD.’s holdings in Mueller Industries were worth $6,142,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Retirement Systems of Alabama bought a new position in Mueller Industries in the 4th quarter valued at $11,877,000. Rockline Wealth Management LLC boosted its holdings in shares of Mueller Industries by 11.6% in the 4th quarter. Rockline Wealth Management LLC now owns 4,828 shares of the industrial products company’s stock worth $383,000 after buying an additional 500 shares during the last quarter. F&V Capital Management LLC grew its position in Mueller Industries by 1.2% during the fourth quarter. F&V Capital Management LLC now owns 174,354 shares of the industrial products company’s stock valued at $13,837,000 after buying an additional 2,079 shares during the period. Spire Wealth Management increased its holdings in Mueller Industries by 353.8% during the fourth quarter. Spire Wealth Management now owns 3,199 shares of the industrial products company’s stock worth $254,000 after buying an additional 2,494 shares during the last quarter. Finally, Caprock Group LLC raised its position in Mueller Industries by 2.3% in the fourth quarter. Caprock Group LLC now owns 8,495 shares of the industrial products company’s stock worth $674,000 after acquiring an additional 194 shares during the period. 94.50% of the stock is owned by hedge funds and other institutional investors.

Mueller Industries Price Performance

Shares of MLI opened at $78.37 on Thursday. Mueller Industries, Inc. has a 1 year low of $47.46 and a 1 year high of $96.81. The stock’s fifty day moving average price is $80.25 and its two-hundred day moving average price is $76.74. The firm has a market cap of $8.91 billion, a PE ratio of 15.22 and a beta of 0.98.

Mueller Industries (NYSE:MLI) last announced its quarterly earnings data on Tuesday, February 4th. The industrial products company reported $1.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.12 by $0.09. Mueller Industries had a return on equity of 23.25% and a net margin of 16.39%.

Mueller Industries Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 20th. Investors of record on Friday, December 6th were issued a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 1.02%. The ex-dividend date of this dividend was Friday, December 6th. Mueller Industries’s dividend payout ratio (DPR) is presently 15.07%.

Insider Activity at Mueller Industries

In other Mueller Industries news, Director Charles P. Herzog, Jr. sold 15,000 shares of the firm’s stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $92.04, for a total value of $1,380,600.00. Following the completion of the transaction, the director now owns 17,733 shares in the company, valued at $1,632,145.32. This trade represents a 45.83 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 2.80% of the stock is owned by company insiders.

Analysts Set New Price Targets

Separately, Northcoast Research upgraded shares of Mueller Industries from a “neutral” rating to a “buy” rating and set a $105.00 price target for the company in a research note 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.