Millington Financial Advisors LLC Trims Position in Mueller Industries, Inc. $MLI

Millington Financial Advisors LLC trimmed its holdings in shares of Mueller Industries, Inc. (NYSE:MLI) by 5.3% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 33,053 shares of the industrial products company’s stock after selling 1,848 shares during the period. Mueller Industries makes up about 1.5% of Millington Financial Advisors LLC’s portfolio, making the stock its 19th biggest position. Millington Financial Advisors LLC’s holdings in Mueller Industries were worth $2,879,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Wedbush Securities Inc. lifted its position in Mueller Industries by 3.9% during the second quarter. Wedbush Securities Inc. now owns 3,545 shares of the industrial products company’s stock valued at $282,000 after purchasing an additional 134 shares during the period. Total Wealth Planning & Management Inc. grew its position in Mueller Industries by 2.5% during the 2nd quarter. Total Wealth Planning & Management Inc. now owns 5,948 shares of the industrial products company’s stock worth $473,000 after purchasing an additional 144 shares during the period. Contravisory Investment Management Inc. raised its stake in shares of Mueller Industries by 6.2% during the 2nd quarter. Contravisory Investment Management Inc. now owns 2,611 shares of the industrial products company’s stock valued at $207,000 after buying an additional 152 shares during the last quarter. Rowlandmiller & PARTNERS.ADV boosted its stake in shares of Mueller Industries by 3.4% in the second quarter. Rowlandmiller & PARTNERS.ADV now owns 5,560 shares of the industrial products company’s stock worth $442,000 after buying an additional 185 shares during the last quarter. Finally, Harbour Investments Inc. boosted its stake in shares of Mueller Industries by 0.4% in the second quarter. Harbour Investments Inc. now owns 53,140 shares of the industrial products company’s stock worth $4,223,000 after buying an additional 187 shares during the last quarter. Institutional investors and hedge funds own 94.50% of the company’s stock.

Insider Buying and Selling at Mueller Industries

In other Mueller Industries news, Director Scott Jay Goldman sold 4,234 shares of the business’s stock in a transaction dated Tuesday, November 25th. The shares were sold at an average price of $108.64, for a total transaction of $459,981.76. Following the sale, the director directly owned 41,745 shares in the company, valued at $4,535,176.80. This represents a 9.21% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director John B. Hansen sold 1,000 shares of the company’s stock in a transaction that occurred on Thursday, October 23rd. The stock was sold at an average price of $105.71, for a total transaction of $105,710.00. Following the sale, the director directly owned 91,664 shares in the company, valued at approximately $9,689,801.44. The trade was a 1.08% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 355,234 shares of company stock valued at $36,944,652 in the last three months. 2.70% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Separately, Weiss Ratings reiterated a “buy (b)” rating on shares of Mueller Industries in a research report on Wednesday, October 8th. Two analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, Mueller Industries currently has a consensus rating of “Buy” and an average price target of $105.00.

Mueller Industries Price Performance

Shares of Mueller Industries stock opened at $109.95 on Friday. The stock has a market capitalization of $12.21 billion, a P/E ratio of 16.41 and a beta of 1.04. The business has a 50 day simple moving average of $103.78 and a two-hundred day simple moving average of $92.02. Mueller Industries, Inc. has a 12 month low of $66.84 and a 12 month high of $111.39.

Mueller Industries (NYSE:MLI) last issued its quarterly earnings results on Tuesday, October 21st. The industrial products company reported $1.88 EPS for the quarter, missing the consensus estimate of $1.99 by ($0.11). Mueller Industries had a return on equity of 25.02% and a net margin of 18.10%.The firm had revenue of $1.08 billion for the quarter, compared to analysts’ expectations of $942.00 million. During the same quarter in the previous year, the firm posted $1.48 earnings per share. The firm’s revenue for the quarter was up 8.0% compared to the same quarter last year.

Mueller Industries Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 19th. Stockholders of record on Friday, December 5th will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 0.9%. The ex-dividend date is Friday, December 5th. Mueller Industries’s dividend payout ratio (DPR) is currently 14.93%.

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.