Mueller Industries, Inc. (NYSE:MLI) Shares Purchased by TD Private Client Wealth LLC

TD Private Client Wealth LLC grew its position in Mueller Industries, Inc. (NYSE:MLI - Free Report) by 252.5% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 9,965 shares of the industrial products company's stock after buying an additional 7,138 shares during the period. TD Private Client Wealth LLC's holdings in Mueller Industries were worth $738,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. CWM LLC increased its holdings in shares of Mueller Industries by 113.8% in the second quarter. CWM LLC now owns 1,768 shares of the industrial products company's stock valued at $101,000 after purchasing an additional 941 shares during the period. Wealth Enhancement Advisory Services LLC acquired a new position in shares of Mueller Industries in the 2nd quarter valued at about $250,000. Blue Trust Inc. boosted its position in Mueller Industries by 46.0% in the 2nd quarter. Blue Trust Inc. now owns 3,800 shares of the industrial products company's stock worth $205,000 after purchasing an additional 1,197 shares in the last quarter. Raymond James & Associates boosted its holdings in Mueller Industries by 3.5% during the second quarter. Raymond James & Associates now owns 61,622 shares of the industrial products company's stock worth $3,509,000 after buying an additional 2,063 shares in the last quarter. Finally, Summit Global Investments boosted its stake in shares of Mueller Industries by 1.6% during the 2nd quarter. Summit Global Investments now owns 12,844 shares of the industrial products company's stock worth $731,000 after acquiring an additional 204 shares in the last quarter. Institutional investors and hedge funds own 94.50% of the company's stock.

Insiders Place Their Bets

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

Wall Street Analysts Forecast Growth

Separately, Northcoast Research raised 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 note on Wednesday.

Mueller Industries Price Performance

Shares of NYSE MLI traded down $0.47 during midday trading on Friday, hitting $82.48. 706,412 shares of the company's stock were exchanged, compared to its average volume of 840,877. The company has a market cap of $9.38 billion, a PE ratio of 16.02 and a beta of 0.99. Mueller Industries, Inc. has a twelve month low of $44.03 and a twelve month high of $96.81. The firm's fifty day simple moving average is $82.18 and its 200-day simple moving average is $70.58.

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

Mueller Industries Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Friday, December 6th will be given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 0.97%. The ex-dividend date of this dividend is Friday, December 6th. Mueller Industries's 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.