Venturi Wealth Management LLC Sells 34,365 Shares of Mueller Industries, Inc. (NYSE:MLI)

Venturi Wealth Management LLC lowered its holdings in shares of Mueller Industries, Inc. (NYSE:MLI - Free Report) by 16.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 176,601 shares of the industrial products company's stock after selling 34,365 shares during the quarter. Venturi Wealth Management LLC owned approximately 0.16% of Mueller Industries worth $13,086,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in MLI. International Assets Investment Management LLC purchased a new stake in Mueller Industries during the 2nd quarter valued at approximately $26,000. Federated Hermes Inc. bought a new stake in Mueller Industries in the 2nd quarter valued at $28,000. Opal Wealth Advisors LLC purchased a new stake in Mueller Industries in the 2nd quarter worth $30,000. GAMMA Investing LLC boosted its holdings in shares of Mueller Industries by 36.0% during the 3rd quarter. GAMMA Investing LLC now owns 552 shares of the industrial products company's stock valued at $41,000 after purchasing an additional 146 shares during the last quarter. Finally, Larson Financial Group LLC grew its position in shares of Mueller Industries by 61.7% during the second quarter. Larson Financial Group LLC now owns 967 shares of the industrial products company's stock valued at $55,000 after purchasing an additional 369 shares in the last quarter. Institutional investors own 94.50% of the company's stock.

Mueller Industries Price Performance

Shares of MLI stock traded up $0.94 during trading hours on Monday, hitting $95.34. The stock had a trading volume of 691,766 shares, compared to its average volume of 720,352. The stock has a market capitalization of $10.84 billion, a price-to-earnings ratio of 18.33 and a beta of 1.01. Mueller Industries, Inc. has a one year low of $37.93 and a one year high of $96.81. The stock's 50-day moving average price is $75.01 and its two-hundred day moving average price is $66.06.

Mueller Industries (NYSE:MLI - Get Free Report) last released its quarterly earnings data 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 company's revenue was up 21.7% on a year-over-year basis.

Mueller Industries Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Friday, December 6th will be paid a $0.20 dividend. The ex-dividend date of this dividend is Friday, December 6th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.84%. Mueller Industries's payout ratio is currently 15.53%.

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 shares were sold at an average price of $83.09, for a total value of $83,090.00. Following the completion of the transaction, the director now owns 94,914 shares of the company's stock, valued at approximately $7,886,404.26. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Mueller Industries news, CEO Gregory L. Christopher sold 50,000 shares of the business's stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $69.92, for a total transaction of $3,496,000.00. Following the transaction, the chief executive officer now owns 1,214,311 shares in the company, valued at $84,904,625.12. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director John B. Hansen sold 1,000 shares of the firm's 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 completion of the sale, the director now owns 94,914 shares of the company's stock, valued at $7,886,404.26. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 96,000 shares of company stock worth $6,626,940 in the last three months. Insiders own 2.80% of the company's stock.

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.