TD Private Client Wealth LLC Reduces Position in Mueller Industries, Inc. (NYSE:MLI)

TD Private Client Wealth LLC decreased its stake in shares of Mueller Industries, Inc. (NYSE:MLI - Free Report) by 72.5% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 2,745 shares of the industrial products company's stock after selling 7,220 shares during the period. TD Private Client Wealth LLC's holdings in Mueller Industries were worth $218,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Arizona State Retirement System increased its holdings in shares of Mueller Industries by 0.5% in the fourth quarter. Arizona State Retirement System now owns 31,245 shares of the industrial products company's stock worth $2,480,000 after purchasing an additional 170 shares during the period. CIBC Asset Management Inc increased its stake in Mueller Industries by 5.3% in the 4th quarter. CIBC Asset Management Inc now owns 3,447 shares of the industrial products company's stock worth $274,000 after acquiring an additional 174 shares during the last quarter. Caprock Group LLC raised its holdings in shares of Mueller Industries by 2.3% in the 4th quarter. Caprock Group LLC now owns 8,495 shares of the industrial products company's stock valued at $674,000 after acquiring an additional 194 shares in the last quarter. Kestra Investment Management LLC boosted its position in shares of Mueller Industries by 7.7% during the 4th quarter. Kestra Investment Management LLC now owns 3,045 shares of the industrial products company's stock valued at $242,000 after acquiring an additional 218 shares during the last quarter. Finally, Addison Capital Co grew its holdings in shares of Mueller Industries by 0.5% during the fourth quarter. Addison Capital Co now owns 51,325 shares of the industrial products company's stock worth $4,073,000 after purchasing an additional 234 shares in the last quarter. Institutional investors own 94.50% of the company's stock.

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Mueller Industries Stock Down 1.2 %

Shares of NYSE MLI traded down $0.93 during mid-day trading on Friday, reaching $76.58. 576,007 shares of the company were exchanged, compared to its average volume of 895,495. Mueller Industries, Inc. has a 52 week low of $50.85 and a 52 week high of $96.81. The company's 50 day moving average price is $79.92 and its 200 day moving average price is $79.71. The stock has a market capitalization of $8.67 billion, a PE ratio of 14.42 and a beta of 0.99.

Mueller Industries (NYSE:MLI - Get Free Report) last issued its quarterly earnings results on Tuesday, February 4th. The industrial products company reported $1.21 earnings per share (EPS) 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 firm also recently declared a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Friday, March 14th were given a dividend of $0.25 per share. This is a boost from Mueller Industries's previous quarterly dividend of $0.20. This represents a $1.00 dividend on an annualized basis and a yield of 1.31%. The ex-dividend date was Friday, March 14th. Mueller Industries's dividend payout ratio (DPR) is presently 18.83%.

Insiders Place Their Bets

In related news, Director Scott Jay Goldman sold 10,000 shares of the stock in a transaction 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 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 2.80% of the company's stock.

Wall Street Analyst Weigh In

Separately, Northcoast Research raised shares of Mueller Industries from a "neutral" rating to a "buy" rating and set a $105.00 target price on the stock 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.