Venturi Wealth Management LLC Cuts Stake in Mueller Industries, Inc. $MLI

Venturi Wealth Management LLC lowered its position in shares of Mueller Industries, Inc. (NYSE:MLI) by 1.3% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 178,622 shares of the industrial products company’s stock after selling 2,361 shares during the period. Venturi Wealth Management LLC owned about 0.16% of Mueller Industries worth $14,195,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. Contravisory Investment Management Inc. boosted its position in 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 period. Golden State Wealth Management LLC boosted its position in Mueller Industries by 103.1% during the 1st quarter. Golden State Wealth Management LLC now owns 331 shares of the industrial products company’s stock valued at $25,000 after buying an additional 168 shares during the period. Rowlandmiller & PARTNERS.ADV boosted its position in Mueller Industries by 3.4% during the 2nd quarter. Rowlandmiller & PARTNERS.ADV now owns 5,560 shares of the industrial products company’s stock valued at $442,000 after buying an additional 185 shares during the period. Hohimer Wealth Management LLC boosted its position in Mueller Industries by 4.4% during the 1st quarter. Hohimer Wealth Management LLC now owns 4,463 shares of the industrial products company’s stock valued at $340,000 after buying an additional 187 shares during the period. Finally, SageView Advisory Group LLC boosted its position in Mueller Industries by 1.9% during the 1st quarter. SageView Advisory Group LLC now owns 10,043 shares of the industrial products company’s stock valued at $765,000 after buying an additional 189 shares during the period. Hedge funds and other institutional investors own 94.50% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reissued a “buy (b)” rating on shares of Mueller Industries in a research report on Saturday, September 27th. Two research analysts have rated the stock with a Buy rating, According to data from MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $105.00.

Mueller Industries Trading Down 0.9%

NYSE:MLI opened at $98.74 on Wednesday. The company has a 50-day moving average price of $95.30 and a 200-day moving average price of $83.79. Mueller Industries, Inc. has a 12 month low of $66.84 and a 12 month high of $102.75. The stock has a market cap of $10.93 billion, a price-to-earnings ratio of 15.67 and a beta of 1.02.

Mueller Industries (NYSE:MLI) last issued its quarterly earnings results on Tuesday, July 22nd. The industrial products company reported $1.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.62 by $0.34. The company had revenue of $1.14 billion during the quarter, compared to analyst estimates of $1.12 billion. Mueller Industries had a net margin of 17.48% and a return on equity of 24.47%. Mueller Industries’s revenue was up 14.1% on a year-over-year basis.

Mueller Industries Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 19th. Investors of record on Friday, September 5th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.0%. The ex-dividend date was Friday, September 5th. Mueller Industries’s dividend payout ratio (DPR) is presently 15.87%.

Insider Activity

In related news, Director John B. Hansen sold 1,000 shares of the stock in a transaction dated Tuesday, August 12th. The shares were sold at an average price of $91.97, for a total value of $91,970.00. Following the completion of the transaction, the director directly owned 92,664 shares in the company, valued at $8,522,308.08. This trade represents a 1.07% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.70% of the stock is currently owned by 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.