Spectrum Wealth Counsel LLC Has $4.96 Million Holdings in Mueller Industries, Inc. (NYSE:MLI)

Spectrum Wealth Counsel LLC cut its stake in Mueller Industries, Inc. (NYSE:MLI) by 0.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 62,531 shares of the industrial products company’s stock after selling 448 shares during the period. Spectrum Wealth Counsel LLC owned about 0.05% of Mueller Industries worth $4,962,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the stock. US Bancorp DE raised its holdings in shares of Mueller Industries by 3.0% in the 4th quarter. US Bancorp DE now owns 18,278 shares of the industrial products company’s stock worth $1,451,000 after buying an additional 537 shares in the last quarter. Mutual of America Capital Management LLC grew its position in Mueller Industries by 18.9% during the 4th quarter. Mutual of America Capital Management LLC now owns 284,854 shares of the industrial products company’s stock worth $22,606,000 after acquiring an additional 45,311 shares during the last quarter. Flputnam Investment Management Co. grew its position in Mueller Industries by 304.2% during the 4th quarter. Flputnam Investment Management Co. now owns 8,084 shares of the industrial products company’s stock worth $642,000 after acquiring an additional 6,084 shares during the last quarter. Parkside Financial Bank & Trust grew its position in Mueller Industries by 22.6% during the 4th quarter. Parkside Financial Bank & Trust now owns 1,643 shares of the industrial products company’s stock worth $130,000 after acquiring an additional 303 shares during the last quarter. Finally, QRG Capital Management Inc. grew its position in Mueller Industries by 2.5% during the 4th quarter. QRG Capital Management Inc. now owns 97,234 shares of the industrial products company’s stock worth $7,716,000 after acquiring an additional 2,416 shares during the last quarter. 94.50% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Mueller Industries news, Director Scott Jay Goldman sold 10,000 shares of Mueller Industries stock in a transaction dated Thursday, February 13th. The stock was sold at an average price of $79.81, for a total value of $798,100.00. Following the sale, the director now owns 56,098 shares of the company’s stock, valued at $4,477,181.38. This trade represents a 15.13 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 2.80% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

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

Mueller Industries Stock Performance

Shares of MLI opened at $80.18 on Friday. The firm has a market capitalization of $9.12 billion, a price-to-earnings ratio of 15.10 and a beta of 0.98. The business’s fifty day moving average price is $80.18 and its two-hundred day moving average price is $78.18. Mueller Industries, Inc. has a 52 week low of $49.95 and a 52 week high of $96.81.

Mueller Industries (NYSE:MLI) last posted its quarterly earnings results on Tuesday, February 4th. The industrial products company reported $1.21 earnings per share (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 disclosed 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. This represents a $1.00 annualized dividend and a yield of 1.25%. The ex-dividend date is Friday, March 14th. This is an increase from Mueller Industries’s previous quarterly dividend of $0.20. Mueller Industries’s dividend payout ratio (DPR) is presently 18.83%.

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.