IFP Advisors Inc Sells 4,093 Shares of Mueller Industries, Inc. (NYSE:MLI)

IFP Advisors Inc decreased its holdings in Mueller Industries, Inc. (NYSE:MLI - Free Report) by 24.6% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 12,558 shares of the industrial products company's stock after selling 4,093 shares during the quarter. IFP Advisors Inc's holdings in Mueller Industries were worth $996,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of the business. Westside Investment Management Inc. acquired a new stake in Mueller Industries in the third quarter worth approximately $41,000. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of Mueller Industries in the 4th quarter worth $53,000. City State Bank acquired a new stake in shares of Mueller Industries in the fourth quarter valued at $58,000. Harbor Capital Advisors Inc. acquired a new stake in shares of Mueller Industries in the third quarter valued at $64,000. Finally, GAMMA Investing LLC boosted its stake in Mueller Industries by 46.7% during the fourth quarter. GAMMA Investing LLC now owns 810 shares of the industrial products company's stock valued at $64,000 after buying an additional 258 shares in the last quarter. 94.50% of the stock is owned by institutional investors and hedge funds.

Mueller Industries Stock Down 0.9 %

NYSE:MLI traded down $0.70 during trading hours on Monday, reaching $79.48. 871,091 shares of the company's stock were exchanged, compared to its average volume of 761,452. The company has a market capitalization of $9.00 billion, a P/E ratio of 14.97 and a beta of 0.98. Mueller Industries, Inc. has a 12 month low of $49.95 and a 12 month high of $96.81. The business's 50-day simple moving average is $80.18 and its two-hundred day simple moving average is $78.33.

Mueller Industries (NYSE:MLI - Get Free Report) last released its quarterly earnings data 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 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. Investors of record on Friday, March 14th will be paid a $0.25 dividend. The ex-dividend date is Friday, March 14th. This represents a $1.00 dividend on an annualized basis and a yield of 1.26%. This is a boost from Mueller Industries's previous quarterly dividend of $0.20. Mueller Industries's dividend payout ratio (DPR) is currently 18.83%.

Insider Buying and Selling at Mueller Industries

In other news, Director Scott Jay Goldman sold 10,000 shares of the business'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 transaction of $798,100.00. Following the sale, the director now owns 56,098 shares in the company, valued at $4,477,181.38. The trade was a 15.13 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 2.80% of the company's stock.

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 price target on the stock in a research 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.