Orion Portfolio Solutions LLC Decreases Position in Mueller Industries, Inc. (NYSE:MLI)

Orion Portfolio Solutions LLC trimmed its holdings in shares of Mueller Industries, Inc. (NYSE:MLI) by 16.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 38,825 shares of the industrial products company’s stock after selling 7,922 shares during the period. Orion Portfolio Solutions LLC’s holdings in Mueller Industries were worth $3,081,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. New Age Alpha Advisors LLC bought a new stake in Mueller Industries during the 4th quarter valued at $32,000. Westside Investment Management Inc. bought a new position in shares of Mueller Industries during the third quarter valued at about $41,000. SBI Securities Co. Ltd. purchased a new stake in shares of Mueller Industries during the fourth quarter worth about $47,000. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of Mueller Industries in the fourth quarter worth about $53,000. Finally, City State Bank purchased a new position in Mueller Industries during the 4th quarter valued at about $58,000. 94.50% of the stock is owned by institutional investors.

Analyst Ratings Changes

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

Insider Buying and Selling

In other news, Director Scott Jay Goldman sold 10,000 shares of the stock in a transaction on Thursday, February 13th. The stock was 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 represents a 15.13 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 2.80% of the stock is owned by corporate insiders.

Mueller Industries Price Performance

NYSE:MLI opened at $76.18 on Tuesday. Mueller Industries, Inc. has a 1-year low of $50.85 and a 1-year high of $96.81. The company has a market capitalization of $8.63 billion, a PE ratio of 14.35 and a beta of 0.99. The firm’s 50-day moving average price is $79.81 and its 200-day moving average price is $79.86.

Mueller Industries (NYSE:MLI) last released its earnings results on Tuesday, February 4th. The industrial products company reported $1.21 EPS for the quarter, topping the consensus estimate of $1.12 by $0.09. Mueller Industries had a return on equity of 22.97% and a net margin of 16.05%.

Mueller Industries Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Friday, March 14th were issued a $0.25 dividend. This is a positive change from Mueller Industries’s previous quarterly dividend of $0.20. The ex-dividend date was Friday, March 14th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.31%. Mueller Industries’s dividend payout ratio (DPR) is presently 18.83%.

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.