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

Sequent Planning LLC trimmed its position in Mueller Industries, Inc. (NYSE:MLI) by 4.6% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 15,980 shares of the industrial products company’s stock after selling 763 shares during the quarter. Sequent Planning LLC’s holdings in Mueller Industries were worth $1,268,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of MLI. Quest Partners LLC grew its stake in Mueller Industries by 107,875.0% in the 3rd quarter. Quest Partners LLC now owns 4,319 shares of the industrial products company’s stock valued at $320,000 after buying an additional 4,315 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. acquired a new position in Mueller Industries in the 3rd quarter valued at about $1,922,000. Advisors Asset Management Inc. grew its stake in Mueller Industries by 5.5% in the 3rd quarter. Advisors Asset Management Inc. now owns 36,174 shares of the industrial products company’s stock valued at $2,680,000 after buying an additional 1,900 shares during the last quarter. Massachusetts Financial Services Co. MA grew its stake in Mueller Industries by 3.5% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 102,417 shares of the industrial products company’s stock valued at $7,589,000 after buying an additional 3,497 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in Mueller Industries by 27.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,469,736 shares of the industrial products company’s stock valued at $108,907,000 after buying an additional 315,490 shares during the last quarter. 94.50% of the stock is owned by institutional investors.

Analysts Set New Price Targets

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

Mueller Industries Stock Down 2.8 %

Shares of NYSE:MLI opened at $77.34 on Monday. The company’s 50 day moving average price is $80.18 and its two-hundred day moving average price is $79.39. Mueller Industries, Inc. has a 12-month low of $50.85 and a 12-month high of $96.81. The firm has a market cap of $8.76 billion, a PE ratio of 14.56 and a beta of 0.99.

Mueller Industries (NYSE:MLI) last announced its earnings results on Tuesday, February 4th. The industrial products company reported $1.21 earnings per share (EPS) for the quarter, topping 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 business also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 14th will be paid a $0.25 dividend. This is an increase from Mueller Industries’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend is Friday, March 14th. This represents a $1.00 annualized dividend and a yield of 1.29%. Mueller Industries’s dividend payout ratio is presently 18.83%.

Insider Activity at Mueller Industries

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