Millington Financial Advisors LLC Acquires 16,321 Shares of Mueller Industries, Inc. (NYSE:MLI)

Millington Financial Advisors LLC boosted its holdings in shares of Mueller Industries, Inc. (NYSE:MLI) by 98.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 32,832 shares of the industrial products company’s stock after acquiring an additional 16,321 shares during the period. Mueller Industries comprises about 1.2% of Millington Financial Advisors LLC’s portfolio, making the stock its 23rd largest position. Millington Financial Advisors LLC’s holdings in Mueller Industries were worth $1,548,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Fifth Third Bancorp grew its stake in shares of Mueller Industries by 124.3% during the 4th quarter. Fifth Third Bancorp now owns 527 shares of the industrial products company’s stock worth $25,000 after purchasing an additional 292 shares during the period. Larson Financial Group LLC grew its stake in Mueller Industries by 100.0% in the 4th quarter. Larson Financial Group LLC now owns 598 shares of the industrial products company’s stock valued at $28,000 after acquiring an additional 299 shares during the period. Beaird Harris Wealth Management LLC acquired a new stake in Mueller Industries in the 3rd quarter valued at $30,000. Adirondack Trust Co. acquired a new stake in Mueller Industries in the 3rd quarter valued at $45,000. Finally, Versant Capital Management Inc lifted its holdings in Mueller Industries by 100.0% in the 4th quarter. Versant Capital Management Inc now owns 974 shares of the industrial products company’s stock valued at $46,000 after purchasing an additional 487 shares in the last quarter. 94.50% of the stock is owned by hedge funds and other institutional investors.

Mueller Industries Stock Performance

Shares of NYSE MLI traded up $3.88 during trading on Tuesday, hitting $57.43. 1,276,337 shares of the company were exchanged, compared to its average volume of 668,156. Mueller Industries, Inc. has a 12-month low of $34.08 and a 12-month high of $57.65. The company has a fifty day moving average price of $51.95 and a 200-day moving average price of $46.70. The firm has a market capitalization of $6.52 billion, a PE ratio of 10.80 and a beta of 1.08.

Mueller Industries (NYSE:MLI) last released its earnings results on Tuesday, February 6th. The industrial products company reported $1.05 earnings per share for the quarter. Mueller Industries had a return on equity of 27.59% and a net margin of 17.63%. The company had revenue of $732.38 million during the quarter.

Mueller Industries Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 15th were paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 1.39%. The ex-dividend date was Thursday, March 14th. This is a boost from Mueller Industries’s previous quarterly dividend of $0.15. Mueller Industries’s dividend payout ratio is 15.05%.

Insider Buying and Selling

In related news, CFO Jeffrey Andrew Martin sold 47,280 shares of the stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $49.25, for a total transaction of $2,328,540.00. Following the transaction, the chief financial officer now directly owns 370,840 shares in the company, valued at $18,263,870. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Mueller Industries news, Director John B. Hansen sold 5,000 shares of Mueller Industries stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $49.33, for a total transaction of $246,650.00. Following the sale, the director now owns 18,000 shares of the company’s stock, valued at approximately $887,940. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Jeffrey Andrew Martin sold 47,280 shares of the firm’s stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $49.25, for a total transaction of $2,328,540.00. Following the transaction, the chief financial officer now owns 370,840 shares of the company’s stock, valued at approximately $18,263,870. The disclosure for this sale can be found here. 2.80% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

MLI has been the topic of a number of research reports. Northcoast Research restated a “neutral” rating on shares of Mueller Industries in a report on Friday, January 19th. StockNews.com lowered Mueller Industries from a “buy” rating to a “hold” rating in a report on Monday, January 22nd.

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.