TD Private Client Wealth LLC Buys 7,138 Shares of Mueller Industries, Inc. (NYSE:MLI)

TD Private Client Wealth LLC increased its position in shares of Mueller Industries, Inc. (NYSE:MLI) by 252.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 9,965 shares of the industrial products company’s stock after purchasing an additional 7,138 shares during the quarter. TD Private Client Wealth LLC’s holdings in Mueller Industries were worth $738,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the company. GAMMA Investing LLC raised its position in shares of Mueller Industries by 36.0% in the 3rd quarter. GAMMA Investing LLC now owns 552 shares of the industrial products company’s stock valued at $41,000 after buying an additional 146 shares in the last quarter. Miller Howard Investments Inc. NY lifted its stake in Mueller Industries by 2.1% during the second quarter. Miller Howard Investments Inc. NY now owns 7,188 shares of the industrial products company’s stock worth $409,000 after purchasing an additional 151 shares during the last quarter. Kapitalo Investimentos Ltda boosted its holdings in shares of Mueller Industries by 3.5% in the 3rd quarter. Kapitalo Investimentos Ltda now owns 4,582 shares of the industrial products company’s stock valued at $340,000 after purchasing an additional 156 shares in the last quarter. 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 purchasing an additional 192 shares during the last quarter. Finally, Summit Global Investments raised its holdings in shares of Mueller Industries by 1.6% during the 2nd quarter. Summit Global Investments now owns 12,844 shares of the industrial products company’s stock worth $731,000 after buying an additional 204 shares in the last quarter. 94.50% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, Northcoast Research raised Mueller Industries from a “neutral” rating to a “buy” rating and set a $105.00 price objective on the stock in a research note on Wednesday.

Insider Transactions at Mueller Industries

In other news, Director Charles P. Herzog, Jr. sold 15,000 shares of Mueller Industries stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $92.04, for a total transaction of $1,380,600.00. Following the transaction, the director now owns 17,733 shares in the company, valued at approximately $1,632,145.32. The trade was a 45.83 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director John B. Hansen sold 1,000 shares of the business’s stock in a transaction on Wednesday, October 30th. The stock was sold at an average price of $83.09, for a total transaction of $83,090.00. Following the completion of the sale, the director now directly owns 94,914 shares in the company, valued at approximately $7,886,404.26. This represents a 1.04 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 2.80% of the company’s stock.

Mueller Industries Price Performance

MLI stock opened at $82.47 on Friday. The stock has a market cap of $9.38 billion, a price-to-earnings ratio of 16.01 and a beta of 0.99. The company has a 50 day simple moving average of $82.18 and a 200 day simple moving average of $70.58. Mueller Industries, Inc. has a 1 year low of $44.03 and a 1 year high of $96.81.

Mueller Industries (NYSE:MLI) last announced its quarterly earnings results on Tuesday, October 22nd. The industrial products company reported $1.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.32 by $0.16. Mueller Industries had a net margin of 16.39% and a return on equity of 23.25%. The company had revenue of $997.80 million during the quarter, compared to the consensus estimate of $936.00 million. The firm’s revenue for the quarter was up 21.7% compared to the same quarter last year.

Mueller Industries Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Friday, December 6th will be given a $0.20 dividend. The ex-dividend date is Friday, December 6th. This represents a $0.80 annualized dividend and a yield of 0.97%. Mueller Industries’s dividend payout ratio is presently 15.53%.

About Mueller Industries

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.