Insight Wealth Strategies LLC Grows Position in Mueller Industries, Inc. (NYSE:MLI)

Insight Wealth Strategies LLC lifted its position in shares of Mueller Industries, Inc. (NYSE:MLIFree Report) by 1.9% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 37,184 shares of the industrial products company’s stock after purchasing an additional 685 shares during the quarter. Insight Wealth Strategies LLC’s holdings in Mueller Industries were worth $2,951,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of MLI. State Street Corp raised its position in Mueller Industries by 3.2% in the third quarter. State Street Corp now owns 4,451,143 shares of the industrial products company’s stock valued at $329,830,000 after purchasing an additional 139,406 shares during the period. LSV Asset Management raised its holdings in shares of Mueller Industries by 44.1% during the 2nd quarter. LSV Asset Management now owns 2,094,682 shares of the industrial products company’s stock valued at $119,271,000 after buying an additional 641,114 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in shares of Mueller Industries by 27.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,469,736 shares of the industrial products company’s stock valued at $108,907,000 after buying an additional 315,490 shares during the period. FMR LLC lifted its position in Mueller Industries by 2.6% during the 3rd quarter. FMR LLC now owns 1,066,658 shares of the industrial products company’s stock worth $79,039,000 after acquiring an additional 27,399 shares in the last quarter. Finally, Systematic Financial Management LP boosted its holdings in Mueller Industries by 1.6% in the 3rd quarter. Systematic Financial Management LP now owns 939,342 shares of the industrial products company’s stock worth $69,605,000 after acquiring an additional 14,729 shares during the period. Institutional investors and hedge funds own 94.50% of the company’s stock.

Mueller Industries Price Performance

MLI traded up $0.02 on Monday, reaching $80.76. The company’s stock had a trading volume of 204,744 shares, compared to its average volume of 428,607. Mueller Industries, Inc. has a 1 year low of $44.39 and a 1 year high of $96.81. The business’s 50 day moving average is $83.78 and its 200 day moving average is $73.35. The stock has a market cap of $9.19 billion, a price-to-earnings ratio of 15.68 and a beta of 1.00.

Mueller Industries (NYSE:MLIGet Free Report) last released its 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. The company had revenue of $997.80 million during the quarter, compared to analysts’ expectations of $936.00 million. Mueller Industries had a return on equity of 23.25% and a net margin of 16.39%. Mueller Industries’s revenue for the quarter was up 21.7% on a year-over-year basis.

Mueller Industries Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, December 20th. Shareholders of record on Friday, December 6th were issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 0.99%. The ex-dividend date of this dividend was Friday, December 6th. Mueller Industries’s dividend payout ratio is presently 15.53%.

Insider Transactions at Mueller Industries

In other news, Director Charles P. Herzog, Jr. sold 15,000 shares of the firm’s stock in a transaction dated 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 transaction, the director now directly owns 17,733 shares in the company, valued at approximately $1,632,145.32. This trade represents a 45.83 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, 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 directly owns 94,914 shares of the company’s stock, valued at $7,886,404.26. This trade represents a 1.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 2.80% of the company’s stock.

Analyst Upgrades and Downgrades

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, December 11th.

Get Our Latest Report on Mueller Industries

About Mueller Industries

(Free Report)

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.

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Institutional Ownership by Quarter for Mueller Industries (NYSE:MLI)

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