Stifel Financial Corp Buys 86,748 Shares of Mueller Industries, Inc. (NYSE:MLI)

Stifel Financial Corp grew its position in shares of Mueller Industries, Inc. (NYSE:MLI - Free Report) by 87.8% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 185,590 shares of the industrial products company's stock after buying an additional 86,748 shares during the quarter. Stifel Financial Corp owned approximately 0.16% of Mueller Industries worth $13,752,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently added to or reduced their stakes in the business. CWM LLC grew its holdings in Mueller Industries by 113.8% in the 2nd quarter. CWM LLC now owns 1,768 shares of the industrial products company's stock valued at $101,000 after buying an additional 941 shares during the last quarter. SG Americas Securities LLC boosted its position in Mueller Industries by 314.6% in the 2nd quarter. SG Americas Securities LLC now owns 38,041 shares of the industrial products company's stock valued at $2,166,000 after buying an additional 28,865 shares during the last quarter. Wealth Enhancement Advisory Services LLC bought a new position in shares of Mueller Industries in the 2nd quarter valued at about $250,000. Welch Group LLC raised its position in shares of Mueller Industries by 76.0% during the 2nd quarter. Welch Group LLC now owns 22,000 shares of the industrial products company's stock valued at $1,253,000 after acquiring an additional 9,500 shares during the last quarter. Finally, Blue Trust Inc. raised its position in shares of Mueller Industries by 46.0% in the 2nd quarter. Blue Trust Inc. now owns 3,800 shares of the industrial products company's stock valued at $205,000 after acquiring an additional 1,197 shares during the period. 94.50% of the stock is owned by institutional investors.

Analyst Ratings Changes

Separately, Northcoast Research raised shares of 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.

Insider Transactions at Mueller Industries

In related news, Director John B. Hansen sold 1,000 shares of the stock in a transaction dated Wednesday, October 30th. The stock was sold at an average price of $83.09, for a total transaction of $83,090.00. Following the sale, the director now owns 94,914 shares of the company's stock, valued at approximately $7,886,404.26. This represents a 1.04 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Charles P. Herzog, Jr. sold 15,000 shares of Mueller Industries stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $92.04, for a total transaction of $1,380,600.00. Following the sale, the director now owns 17,733 shares of the company's stock, valued at approximately $1,632,145.32. The trade was a 45.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 2.80% of the company's stock.

Mueller Industries Trading Up 5.2 %

Shares of NYSE:MLI traded up $4.20 on Wednesday, hitting $84.36. The company had a trading volume of 855,201 shares, compared to its average volume of 838,456. The stock has a market cap of $9.60 billion, a price-to-earnings ratio of 16.59 and a beta of 0.99. Mueller Industries, Inc. has a 1-year low of $41.94 and a 1-year high of $96.81. The stock has a 50 day moving average price of $81.53 and a 200 day moving average price of $70.24.

Mueller Industries (NYSE:MLI - Get Free Report) last issued its quarterly earnings results on Tuesday, October 22nd. The industrial products company reported $1.48 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.32 by $0.16. The business had revenue of $997.80 million for the quarter, compared to the consensus estimate of $936.00 million. Mueller Industries had a return on equity of 23.25% and a net margin of 16.39%. The business's quarterly revenue was up 21.7% compared to the same quarter last year.

Mueller Industries Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Friday, December 6th will be paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.95%. The ex-dividend date of this dividend is Friday, December 6th. Mueller Industries's dividend payout ratio is 15.53%.

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.