Farther Finance Advisors LLC Has $624,000 Position in Mueller Industries, Inc. (NYSE:MLI)

Farther Finance Advisors LLC lowered its stake in shares of Mueller Industries, Inc. (NYSE:MLI) by 6.8% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 7,863 shares of the industrial products company’s stock after selling 573 shares during the period. Farther Finance Advisors LLC’s holdings in Mueller Industries were worth $624,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. Westside Investment Management Inc. acquired a new position in shares of Mueller Industries during the third quarter valued at about $41,000. SBI Securities Co. Ltd. acquired a new position in shares of Mueller Industries during the fourth quarter valued at about $47,000. Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of Mueller Industries during the fourth quarter valued at about $53,000. City State Bank bought a new stake in Mueller Industries in the fourth quarter valued at about $58,000. Finally, GAMMA Investing LLC increased its stake in Mueller Industries by 46.7% in the fourth quarter. GAMMA Investing LLC now owns 810 shares of the industrial products company’s stock valued at $64,000 after acquiring an additional 258 shares during the period. Institutional investors and hedge funds own 94.50% of the company’s stock.

Mueller Industries Stock Up 1.8 %

NYSE MLI opened at $79.62 on Friday. The stock has a market cap of $9.02 billion, a P/E ratio of 14.99 and a beta of 0.99. The company’s 50-day simple moving average is $80.15 and its 200 day simple moving average is $79.01. Mueller Industries, Inc. has a twelve month low of $50.85 and a twelve month high of $96.81.

Mueller Industries (NYSE:MLI) last posted its earnings results on Tuesday, February 4th. The industrial products company reported $1.21 earnings per share 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 disclosed a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, March 14th will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 1.26%. This is a boost from Mueller Industries’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend is Friday, March 14th. Mueller Industries’s dividend payout ratio is currently 18.83%.

Analysts Set New Price Targets

Separately, Northcoast Research raised 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 note on Wednesday, December 11th.

Insiders Place Their Bets

In other Mueller Industries news, Director Scott Jay Goldman sold 10,000 shares of the company’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 sale, the director now directly owns 56,098 shares of the company’s stock, valued at approximately $4,477,181.38. This represents a 15.13 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 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.