Sequent Planning LLC Sells 763 Shares of Mueller Industries, Inc. (NYSE:MLI)

Sequent Planning LLC lowered its holdings in shares of Mueller Industries, Inc. (NYSE:MLI) by 4.6% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 15,980 shares of the industrial products company’s stock after selling 763 shares during the period. Sequent Planning LLC’s holdings in Mueller Industries were worth $1,268,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of MLI. Westside Investment Management Inc. bought a new position in Mueller Industries during the third quarter worth $41,000. SBI Securities Co. Ltd. bought a new position in Mueller Industries during the fourth quarter worth $47,000. Mirae Asset Global Investments Co. Ltd. bought a new position in Mueller Industries during the fourth quarter worth $53,000. City State Bank bought a new position in Mueller Industries during the fourth quarter worth $58,000. Finally, GAMMA Investing LLC raised its stake in Mueller Industries by 46.7% during the fourth quarter. GAMMA Investing LLC now owns 810 shares of the industrial products company’s stock worth $64,000 after buying an additional 258 shares during the last quarter. Institutional investors own 94.50% of the company’s stock.

Insider Activity

In related news, Director Scott Jay Goldman sold 10,000 shares of the firm’s stock in a transaction dated Thursday, February 13th. The shares were sold at an average price of $79.81, for a total transaction of $798,100.00. Following the transaction, the director now directly owns 56,098 shares of the company’s stock, valued at $4,477,181.38. This trade represents a 15.13 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 2.80% of the company’s stock.

Mueller Industries Trading Down 2.8 %

NYSE:MLI opened at $77.34 on Monday. The stock has a market capitalization of $8.76 billion, a price-to-earnings ratio of 14.56 and a beta of 0.99. The firm has a fifty day simple moving average of $80.18 and a two-hundred day simple moving average of $79.39. Mueller Industries, Inc. has a 12 month low of $50.85 and a 12 month high of $96.81.

Mueller Industries (NYSE:MLI) last issued its quarterly earnings data on Tuesday, February 4th. The industrial products company reported $1.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.12 by $0.09. Mueller Industries had a net margin of 16.05% and a return on equity of 22.97%.

Mueller Industries Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 14th will be issued a dividend of $0.25 per share. This is a boost from Mueller Industries’s previous quarterly dividend of $0.20. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.29%. The ex-dividend date is Friday, March 14th. Mueller Industries’s dividend payout ratio (DPR) is currently 18.83%.

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 target price for the company in a research note on Wednesday, December 11th.

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.