GM Advisory Group LLC Cuts Stake in Mueller Industries, Inc. (NYSE:MLI)

GM Advisory Group LLC cut its holdings in shares of Mueller Industries, Inc. (NYSE:MLI) by 5.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,600 shares of the industrial products company’s stock after selling 192 shares during the period. GM Advisory Group LLC’s holdings in Mueller Industries were worth $286,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in MLI. Arizona State Retirement System grew its holdings in Mueller Industries by 0.5% in the fourth quarter. Arizona State Retirement System now owns 31,245 shares of the industrial products company’s stock valued at $2,480,000 after purchasing an additional 170 shares during the period. CIBC Asset Management Inc lifted its position in shares of Mueller Industries by 5.3% during the 4th quarter. CIBC Asset Management Inc now owns 3,447 shares of the industrial products company’s stock valued at $274,000 after buying an additional 174 shares in the last quarter. Caprock Group LLC grew its stake in Mueller Industries by 2.3% in the 4th quarter. Caprock Group LLC now owns 8,495 shares of the industrial products company’s stock valued at $674,000 after acquiring an additional 194 shares during the period. Kestra Investment Management LLC increased its holdings in Mueller Industries by 7.7% in the 4th quarter. Kestra Investment Management LLC now owns 3,045 shares of the industrial products company’s stock worth $242,000 after acquiring an additional 218 shares in the last quarter. Finally, Addison Capital Co raised its position in Mueller Industries by 0.5% during the fourth quarter. Addison Capital Co now owns 51,325 shares of the industrial products company’s stock worth $4,073,000 after acquiring an additional 234 shares during the period. 94.50% of the stock is owned by institutional investors and hedge funds.

Mueller Industries Stock Performance

NYSE MLI opened at $81.48 on Thursday. Mueller Industries, Inc. has a one year low of $50.85 and a one year high of $96.81. The business has a fifty day moving average price of $80.20 and a 200 day moving average price of $79.21. The company has a market cap of $9.23 billion, a P/E ratio of 15.34 and a beta of 0.99.

Mueller Industries (NYSE:MLI) last released its quarterly earnings data on Tuesday, February 4th. The industrial products company reported $1.21 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 company also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, March 14th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.23%. This is a positive change from Mueller Industries’s previous quarterly dividend of $0.20. The ex-dividend date is Friday, March 14th. Mueller Industries’s payout ratio is presently 18.83%.

Wall Street Analyst Weigh In

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

Insider Transactions at Mueller Industries

In other Mueller Industries news, Director Scott Jay Goldman sold 10,000 shares of Mueller Industries 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 completion of the sale, the director now directly owns 56,098 shares in the company, valued at $4,477,181.38. This trade represents a 15.13 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 2.80% of the company’s stock.

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.