Ritholtz Wealth Management Cuts Holdings in Mueller Industries, Inc. (NYSE:MLI)

Ritholtz Wealth Management decreased its position in Mueller Industries, Inc. (NYSE:MLI) by 1.2% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 68,349 shares of the industrial products company’s stock after selling 816 shares during the period. Ritholtz Wealth Management owned about 0.06% of Mueller Industries worth $5,424,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in MLI. Fiera Capital Corp purchased a new position in Mueller Industries in the third quarter valued at $35,552,000. Charles Schwab Investment Management Inc. grew its position in shares of Mueller Industries by 27.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,469,736 shares of the industrial products company’s stock valued at $108,907,000 after purchasing an additional 315,490 shares during the period. Caisse DE Depot ET Placement DU Quebec grew its position in shares of Mueller Industries by 77.4% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 393,417 shares of the industrial products company’s stock valued at $29,152,000 after purchasing an additional 171,671 shares during the period. Barclays PLC grew its position in shares of Mueller Industries by 343.9% in the third quarter. Barclays PLC now owns 197,206 shares of the industrial products company’s stock valued at $14,613,000 after purchasing an additional 152,780 shares during the period. Finally, State Street Corp grew its position in shares of Mueller Industries by 3.2% in the third quarter. State Street Corp now owns 4,451,143 shares of the industrial products company’s stock valued at $329,830,000 after purchasing an additional 139,406 shares during the period. Hedge funds and other institutional investors own 94.50% of the company’s stock.

Mueller Industries Trading Up 0.7 %

MLI stock opened at $81.83 on Friday. The company has a market cap of $9.31 billion, a price-to-earnings ratio of 15.89 and a beta of 1.00. Mueller Industries, Inc. has a 12 month low of $44.39 and a 12 month high of $96.81. The firm has a 50-day moving average of $82.82 and a two-hundred day moving average of $74.60.

Mueller Industries (NYSE:MLI) last released its quarterly earnings data on Tuesday, October 22nd. The industrial products company reported $1.48 EPS for the quarter, beating analysts’ consensus estimates of $1.32 by $0.16. The company had revenue of $997.80 million during the quarter, compared to the consensus estimate of $936.00 million. Mueller Industries had a net margin of 16.39% and a return on equity of 23.25%. The company’s revenue was up 21.7% on a year-over-year basis.

Mueller Industries Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, December 20th. Stockholders of record on Friday, December 6th were issued a dividend of $0.20 per share. The ex-dividend date was Friday, December 6th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.98%. Mueller Industries’s dividend payout ratio is currently 15.53%.

Analyst Upgrades and Downgrades

Separately, Northcoast Research upgraded 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 report on Wednesday, December 11th.

Insider Transactions at Mueller Industries

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