TD Private Client Wealth LLC Sells 7,220 Shares of Mueller Industries, Inc. (NYSE:MLI)

TD Private Client Wealth LLC trimmed its position in Mueller Industries, Inc. (NYSE:MLI) by 72.5% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 2,745 shares of the industrial products company’s stock after selling 7,220 shares during the quarter. TD Private Client Wealth LLC’s holdings in Mueller Industries were worth $218,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the company. Quest Partners LLC boosted its position in Mueller Industries by 107,875.0% during the third quarter. Quest Partners LLC now owns 4,319 shares of the industrial products company’s stock worth $320,000 after purchasing an additional 4,315 shares during the period. Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of Mueller Industries during the 3rd quarter worth about $1,922,000. Massachusetts Financial Services Co. MA grew its stake in Mueller Industries by 3.5% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 102,417 shares of the industrial products company’s stock valued at $7,589,000 after buying an additional 3,497 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Mueller Industries by 27.3% in the 3rd 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 acquiring an additional 315,490 shares during the period. Finally, Citigroup Inc. lifted its position in Mueller Industries by 48.1% during the third quarter. Citigroup Inc. now owns 147,833 shares of the industrial products company’s stock worth $10,954,000 after acquiring an additional 48,045 shares during 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 upgraded Mueller Industries from a “neutral” rating to a “buy” rating and set a $105.00 target price on the stock in a research note on Wednesday, December 11th.

Insider Buying and Selling at Mueller Industries

In other Mueller Industries news, Director Scott Jay Goldman sold 10,000 shares of the company’s stock in a transaction on Thursday, February 13th. The stock was sold at an average price of $79.81, for a total transaction of $798,100.00. Following the completion of the sale, the director now directly owns 56,098 shares in the company, valued at $4,477,181.38. This represents a 15.13 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 2.80% of the company’s stock.

Mueller Industries Stock Performance

Shares of Mueller Industries stock opened at $79.27 on Wednesday. The firm has a 50-day moving average of $80.16 and a 200-day moving average of $79.58. Mueller Industries, Inc. has a 52-week low of $50.85 and a 52-week high of $96.81. The stock has a market cap of $8.98 billion, a PE ratio of 14.93 and a beta of 0.99.

Mueller Industries (NYSE:MLI) last issued its quarterly 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 22.97% and a net margin of 16.05%.

Mueller Industries Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, March 14th will be paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.26%. This is an increase from Mueller Industries’s previous quarterly dividend of $0.20. The ex-dividend date is Friday, March 14th. Mueller Industries’s dividend payout ratio is presently 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.