Mueller Industries, Inc. (NYSE:MLI) Shares Bought by Avantax Advisory Services Inc.

Avantax Advisory Services Inc. boosted its position in shares of Mueller Industries, Inc. (NYSE:MLI) by 12.9% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 10,562 shares of the industrial products company’s stock after acquiring an additional 1,207 shares during the period. Avantax Advisory Services Inc.’s holdings in Mueller Industries were worth $838,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of MLI. Oppenheimer Asset Management Inc. purchased a new stake in shares of Mueller Industries during the 3rd quarter worth approximately $320,000. KBC Group NV lifted its position in shares of Mueller Industries by 12.9% during the 3rd quarter. KBC Group NV now owns 2,784 shares of the industrial products company’s stock worth $206,000 after buying an additional 318 shares during the last quarter. CIBC Asset Management Inc purchased a new stake in shares of Mueller Industries during the 3rd quarter worth approximately $243,000. Quest Partners LLC lifted its position in shares of Mueller Industries by 107,875.0% during the 3rd quarter. Quest Partners LLC now owns 4,319 shares of the industrial products company’s stock worth $320,000 after buying an additional 4,315 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of Mueller Industries during the 3rd quarter worth approximately $1,922,000. Hedge funds and other institutional investors own 94.50% of the company’s stock.

Insider Buying and Selling

In other news, Director Scott Jay Goldman sold 10,000 shares of the firm’s stock in a transaction 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 sale, the director now owns 56,098 shares in the company, valued at approximately $4,477,181.38. This trade represents a 15.13 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 2.80% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

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

Mueller Industries Price Performance

Shares of NYSE:MLI opened at $79.47 on Friday. The stock has a market cap of $9.00 billion, a P/E ratio of 14.97 and a beta of 0.99. The firm has a fifty day moving average price of $80.20 and a 200 day moving average price of $79.21. Mueller Industries, Inc. has a 1-year low of $50.85 and a 1-year high of $96.81.

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

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.