Moran Wealth Management LLC Has $5.47 Million Holdings in Mueller Industries, Inc. (NYSE:MLI)

Moran Wealth Management LLC decreased its holdings in Mueller Industries, Inc. (NYSE:MLI) by 62.0% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 71,821 shares of the industrial products company’s stock after selling 117,060 shares during the quarter. Moran Wealth Management LLC’s holdings in Mueller Industries were worth $5,468,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. New Age Alpha Advisors LLC acquired a new position in Mueller Industries during the 4th quarter worth about $32,000. Opal Wealth Advisors LLC bought a new position in shares of Mueller Industries during the first quarter worth about $40,000. Quarry LP acquired a new position in shares of Mueller Industries in the fourth quarter worth approximately $45,000. SBI Securities Co. Ltd. bought a new stake in Mueller Industries in the fourth quarter valued at approximately $47,000. Finally, Point72 Hong Kong Ltd acquired a new stake in Mueller Industries during the 4th quarter valued at approximately $53,000. 94.50% of the stock is currently owned by institutional investors and hedge funds.

Mueller Industries Stock Performance

Mueller Industries stock opened at $77.20 on Thursday. The firm has a market cap of $8.54 billion, a price-to-earnings ratio of 14.06 and a beta of 1.03. Mueller Industries, Inc. has a 52-week low of $55.20 and a 52-week high of $96.81. The firm has a 50 day moving average price of $75.57 and a two-hundred day moving average price of $77.87.

Mueller Industries (NYSE:MLI) last announced its earnings results on Tuesday, April 22nd. The industrial products company reported $1.39 earnings per share for the quarter, topping analysts’ consensus estimates of $1.31 by $0.08. The business had revenue of $1 billion during the quarter, compared to the consensus estimate of $1 billion. Mueller Industries had a net margin of 15.92% and a return on equity of 23.17%.

Mueller Industries Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 20th. Stockholders of record on Friday, June 6th were given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.30%. The ex-dividend date of this dividend was Friday, June 6th. Mueller Industries’s dividend payout ratio (DPR) is presently 18.21%.

Insider Activity

In other news, Director Scott Jay Goldman sold 16,483 shares of the firm’s stock in a transaction that occurred on Tuesday, April 29th. The shares were sold at an average price of $73.46, for a total transaction of $1,210,841.18. Following the completion of the sale, the director now owns 39,615 shares of the company’s stock, valued at $2,910,117.90. This trade represents a 29.38% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Terry Hermanson sold 10,000 shares of Mueller Industries stock in a transaction on Tuesday, May 6th. The shares were sold at an average price of $74.34, for a total transaction of $743,400.00. Following the completion of the sale, the director now owns 100,082 shares of the company’s stock, valued at $7,440,095.88. This represents a 9.08% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 29,613 shares of company stock valued at $2,198,600 in the last ninety days. 2.70% of the stock is owned by company insiders.

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.