Mueller Industries, Inc. (NYSE:MLI) Stock Position Decreased by Moran Wealth Management LLC

Moran Wealth Management LLC lowered its stake in shares of Mueller Industries, Inc. (NYSE:MLI - Free Report) by 2.6% in the fourth 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 quarter. Moran Wealth Management LLC owned about 0.17% of Mueller Industries worth $14,990,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Wealth Enhancement Advisory Services LLC lifted its stake in shares of Mueller Industries by 17.6% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 5,160 shares of the industrial products company's stock valued at $382,000 after purchasing an additional 772 shares in the last quarter. Assetmark Inc. increased its holdings in Mueller Industries by 20.8% in the 3rd quarter. Assetmark Inc. now owns 122,625 shares of the industrial products company's stock valued at $9,087,000 after purchasing an additional 21,119 shares in the last quarter. Atria Investments Inc raised its position in Mueller Industries by 2.5% in the third quarter. Atria Investments Inc now owns 12,396 shares of the industrial products company's stock valued at $919,000 after purchasing an additional 302 shares during the period. Meritage Portfolio Management lifted its stake in shares of Mueller Industries by 11.4% during the third quarter. Meritage Portfolio Management now owns 21,579 shares of the industrial products company's stock worth $1,599,000 after purchasing an additional 2,215 shares in the last quarter. Finally, Versor Investments LP purchased a new stake in shares of Mueller Industries in the third quarter worth about $674,000. Hedge funds and other institutional investors own 94.50% of the company's stock.

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Mueller Industries Stock Down 0.8 %

Shares of NYSE MLI traded down $0.59 during trading on Thursday, reaching $78.24. 1,082,309 shares of the stock were exchanged, compared to its average volume of 832,943. The business's 50-day moving average price is $80.21 and its 200 day moving average price is $78.89. The company has a market capitalization of $8.86 billion, a price-to-earnings ratio of 14.73 and a beta of 0.99. Mueller Industries, Inc. has a twelve month low of $50.84 and a twelve month high of $96.81.

Mueller Industries (NYSE:MLI - Get Free Report) last posted its quarterly earnings data on Tuesday, February 4th. The industrial products company reported $1.21 earnings per share for the quarter, beating analysts' consensus estimates 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 firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, March 14th will be paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.28%. The ex-dividend date of this dividend is Friday, March 14th. This is a positive change from Mueller Industries's previous quarterly dividend of $0.20. Mueller Industries's dividend payout ratio (DPR) is 18.83%.

Insider Buying and Selling at Mueller Industries

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

Analyst Upgrades and Downgrades

Separately, Northcoast Research upgraded 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 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.