Stratos Wealth Partners LTD. Purchases 1,963 Shares of Mueller Industries, Inc. (NYSE:MLI)

Stratos Wealth Partners LTD. lifted its holdings in Mueller Industries, Inc. (NYSE:MLI) by 2.6% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 77,397 shares of the industrial products company’s stock after acquiring an additional 1,963 shares during the period. Stratos Wealth Partners LTD. owned approximately 0.07% of Mueller Industries worth $6,142,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in MLI. GAMMA Investing LLC increased its holdings in Mueller Industries by 36.0% in the third quarter. GAMMA Investing LLC now owns 552 shares of the industrial products company’s stock worth $41,000 after purchasing an additional 146 shares in the last quarter. Kapitalo Investimentos Ltda grew its position in shares of Mueller Industries by 3.5% during the 3rd quarter. Kapitalo Investimentos Ltda now owns 4,582 shares of the industrial products company’s stock worth $340,000 after buying an additional 156 shares during the period. GM Advisory Group LLC increased its stake in shares of Mueller Industries by 5.3% in the 3rd quarter. GM Advisory Group LLC now owns 3,792 shares of the industrial products company’s stock valued at $281,000 after acquiring an additional 192 shares in the last quarter. Caprock Group LLC lifted its position in shares of Mueller Industries by 2.3% during 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. Finally, Atria Investments Inc boosted its stake in Mueller Industries by 2.5% during the third quarter. Atria Investments Inc now owns 12,396 shares of the industrial products company’s stock worth $919,000 after acquiring an additional 302 shares in the last quarter. 94.50% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Mueller Industries

In related news, Director Charles P. Herzog, Jr. sold 15,000 shares of the stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $92.04, for a total value of $1,380,600.00. Following the completion of the sale, the director now directly owns 17,733 shares of the company’s stock, valued at approximately $1,632,145.32. This represents a 45.83 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 2.80% of the stock is currently owned by insiders.

Mueller Industries Stock Performance

Shares of NYSE:MLI opened at $78.37 on Thursday. Mueller Industries, Inc. has a 52-week low of $47.46 and a 52-week high of $96.81. The business’s 50 day simple moving average is $80.25 and its two-hundred day simple moving average is $76.74. The firm has a market cap of $8.91 billion, a P/E ratio of 15.22 and a beta of 0.98.

Mueller Industries (NYSE:MLI) last issued 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 return on equity of 23.25% and a net margin of 16.39%.

Mueller Industries Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, December 20th. Stockholders of record on Friday, December 6th were given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 1.02%. The ex-dividend date of this dividend was Friday, December 6th. Mueller Industries’s payout ratio is presently 15.07%.

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 price target for the company in a research note on Wednesday, December 11th.

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.