Sequoia Financial Advisors LLC Raises Stock Position in Mueller Industries, Inc. (NYSE:MLI)

Sequoia Financial Advisors LLC increased its stake in Mueller Industries, Inc. (NYSE:MLI) by 84.2% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 5,573 shares of the industrial products company’s stock after acquiring an additional 2,548 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in Mueller Industries were worth $263,000 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 the stock. Fifth Third Bancorp grew its holdings in shares of Mueller Industries by 124.3% during the fourth quarter. Fifth Third Bancorp now owns 527 shares of the industrial products company’s stock worth $25,000 after buying an additional 292 shares in the last quarter. Beaird Harris Wealth Management LLC purchased a new stake in shares of Mueller Industries during the third quarter worth $30,000. Point72 Hong Kong Ltd purchased a new stake in shares of Mueller Industries during the second quarter worth $40,000. Adirondack Trust Co. purchased a new stake in shares of Mueller Industries during the third quarter worth $45,000. Finally, Versant Capital Management Inc grew its holdings in shares of Mueller Industries by 100.0% during the fourth quarter. Versant Capital Management Inc now owns 974 shares of the industrial products company’s stock worth $46,000 after buying an additional 487 shares in the last quarter. Hedge funds and other institutional investors own 94.50% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on MLI. StockNews.com lowered shares of Mueller Industries from a “buy” rating to a “hold” rating in a report on Monday, January 22nd. Northcoast Research reissued a “neutral” rating on shares of Mueller Industries in a research report on Friday, January 19th.

Insider Buying and Selling at Mueller Industries

In other Mueller Industries news, Director John B. Hansen sold 5,000 shares of the company’s stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $49.33, for a total value of $246,650.00. Following the transaction, the director now owns 18,000 shares of the company’s stock, valued at $887,940. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Mueller Industries news, Director John B. Hansen sold 5,000 shares of the company’s stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $49.33, for a total value of $246,650.00. Following the transaction, the director now owns 18,000 shares of the company’s stock, valued at $887,940. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Jeffrey Andrew Martin sold 47,280 shares of the company’s stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $49.25, for a total transaction of $2,328,540.00. Following the completion of the transaction, the chief financial officer now directly owns 370,840 shares in the company, valued at approximately $18,263,870. The disclosure for this sale can be found here. 2.80% of the stock is currently owned by corporate insiders.

Mueller Industries Trading Down 0.1 %

Shares of MLI stock opened at $52.28 on Friday. The company’s 50-day moving average price is $51.70 and its 200-day moving average price is $46.30. The stock has a market cap of $5.94 billion, a price-to-earnings ratio of 9.85 and a beta of 1.08. Mueller Industries, Inc. has a twelve month low of $34.01 and a twelve month high of $54.64.

Mueller Industries (NYSE:MLI) last posted its earnings results on Tuesday, February 6th. The industrial products company reported $1.05 EPS for the quarter. Mueller Industries had a net margin of 17.63% and a return on equity of 27.59%. The company had revenue of $732.38 million for the quarter.

Mueller Industries Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 15th were given a $0.20 dividend. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $0.80 dividend on an annualized basis and a yield of 1.53%. This is a boost from Mueller Industries’s previous quarterly dividend of $0.15. Mueller Industries’s dividend payout ratio is presently 15.07%.

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.