Venturi Wealth Management LLC Sells 3,273 Shares of Mueller Industries, Inc. (NYSE:MLI)

Venturi Wealth Management LLC lessened its holdings in Mueller Industries, Inc. (NYSE:MLI - Free Report) by 1.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 173,328 shares of the industrial products company's stock after selling 3,273 shares during the period. Venturi Wealth Management LLC owned about 0.15% of Mueller Industries worth $13,755,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the business. Fiera Capital Corp acquired a new position in Mueller Industries during the 3rd quarter worth approximately $35,552,000. Charles Schwab Investment Management Inc. grew its stake in shares of Mueller Industries by 27.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,469,736 shares of the industrial products company's stock worth $108,907,000 after buying an additional 315,490 shares during the last quarter. Four Tree Island Advisory LLC bought a new stake in shares of Mueller Industries during the fourth quarter worth $19,376,000. Caisse DE Depot ET Placement DU Quebec increased its holdings in shares of Mueller Industries by 77.4% during the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 393,417 shares of the industrial products company's stock worth $29,152,000 after buying an additional 171,671 shares in the last quarter. Finally, Barclays PLC lifted its stake in shares of Mueller Industries by 343.9% in the 3rd quarter. Barclays PLC now owns 197,206 shares of the industrial products company's stock valued at $14,613,000 after acquiring an additional 152,780 shares during the last quarter. Institutional investors and hedge funds own 94.50% of the company's stock.

Analysts Set New Price Targets

Separately, Northcoast Research upgraded Mueller Industries from a "neutral" rating to a "buy" rating and set a $105.00 price objective on the stock in a research report on Wednesday, December 11th.

Mueller Industries Price Performance

NYSE MLI traded down $2.17 during trading hours on Friday, reaching $78.41. The company's stock had a trading volume of 1,100,369 shares, compared to its average volume of 738,434. The firm has a fifty day simple moving average of $80.31 and a 200-day simple moving average of $77.75. Mueller Industries, Inc. has a 52 week low of $47.46 and a 52 week high of $96.81. The stock has a market cap of $8.92 billion, a P/E ratio of 14.77 and a beta of 0.98.

Mueller Industries (NYSE:MLI - Get Free Report) last issued its quarterly earnings results on Tuesday, February 4th. The industrial products company reported $1.21 EPS for the quarter, topping 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 company also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, March 14th will be given 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 is Friday, March 14th. This is an increase from Mueller Industries's previous quarterly dividend of $0.20. Mueller Industries's dividend payout ratio is currently 15.07%.

Insiders Place Their Bets

In other news, Director Scott Jay Goldman sold 10,000 shares of the company's stock in a transaction on Thursday, February 13th. The shares were sold at an average price of $79.81, for a total value of $798,100.00. Following the sale, the director now directly owns 56,098 shares of the company's stock, valued at approximately $4,477,181.38. This represents a 15.13 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 2.80% of the company's stock.

About Mueller Industries

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.