Ritholtz Wealth Management Decreases Position in Mueller Industries, Inc. (NYSE:MLI)

Ritholtz Wealth Management lessened its holdings in Mueller Industries, Inc. (NYSE:MLI) by 1.2% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 68,349 shares of the industrial products company’s stock after selling 816 shares during the period. Ritholtz Wealth Management’s holdings in Mueller Industries were worth $5,424,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. GAMMA Investing LLC boosted its position in Mueller Industries by 36.0% in the 3rd quarter. GAMMA Investing LLC now owns 552 shares of the industrial products company’s stock valued at $41,000 after buying an additional 146 shares during the period. Kapitalo Investimentos Ltda lifted its position in shares of Mueller Industries by 3.5% during the 3rd quarter. Kapitalo Investimentos Ltda now owns 4,582 shares of the industrial products company’s stock worth $340,000 after purchasing an additional 156 shares during the last quarter. GM Advisory Group LLC lifted its position in shares of Mueller Industries by 5.3% during the 3rd quarter. GM Advisory Group LLC now owns 3,792 shares of the industrial products company’s stock worth $281,000 after purchasing an additional 192 shares during the last quarter. Hsbc Holdings PLC lifted its position in shares of Mueller Industries by 1.8% during the 2nd quarter. Hsbc Holdings PLC now owns 13,188 shares of the industrial products company’s stock worth $757,000 after purchasing an additional 233 shares during the last quarter. Finally, Xponance Inc. lifted its position in shares of Mueller Industries by 4.4% during the 2nd quarter. Xponance Inc. now owns 7,123 shares of the industrial products company’s stock worth $406,000 after purchasing an additional 302 shares during the last quarter. Hedge funds and other institutional investors own 94.50% of the company’s stock.

Analyst Ratings Changes

Separately, Northcoast Research raised shares of Mueller Industries from a “neutral” rating to a “buy” rating and set a $105.00 price objective for the company in a research report on Wednesday, December 11th.

Mueller Industries Price Performance

Shares of NYSE:MLI opened at $81.83 on Friday. The company’s fifty day moving average price is $82.82 and its 200 day moving average price is $74.60. Mueller Industries, Inc. has a 12 month low of $44.39 and a 12 month high of $96.81. The firm has a market capitalization of $9.31 billion, a P/E ratio of 15.89 and a beta of 1.00.

Mueller Industries (NYSE:MLI) last announced its quarterly earnings results on Tuesday, October 22nd. The industrial products company reported $1.48 EPS for the quarter, topping the consensus estimate of $1.32 by $0.16. Mueller Industries had a net margin of 16.39% and a return on equity of 23.25%. The firm had revenue of $997.80 million for the quarter, compared to analyst estimates of $936.00 million. The firm’s quarterly revenue was up 21.7% compared to the same quarter last year.

Mueller Industries Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 20th. Shareholders of record on Friday, December 6th were paid a $0.20 dividend. The ex-dividend date was Friday, December 6th. This represents a $0.80 dividend on an annualized basis and a yield of 0.98%. Mueller Industries’s dividend payout ratio is presently 15.53%.

Insider Buying and Selling at Mueller Industries

In other Mueller Industries news, Director Charles P. Herzog, Jr. sold 15,000 shares of Mueller Industries stock in a transaction on 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. The trade was a 45.83 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director John B. Hansen sold 1,000 shares of Mueller Industries stock in a transaction on 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 owns 94,914 shares in the company, valued at approximately $7,886,404.26. This represents a 1.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.80% of the stock is currently owned by company insiders.

Mueller Industries 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.