Stratos Wealth Partners LTD. Sells 4,086 Shares of Mueller Industries, Inc. (NYSE:MLI)

Stratos Wealth Partners LTD. lessened its position in shares of Mueller Industries, Inc. (NYSE:MLI) by 5.3% in the first quarter, HoldingsChannel.com reports. The fund owned 73,311 shares of the industrial products company’s stock after selling 4,086 shares during the period. Stratos Wealth Partners LTD.’s holdings in Mueller Industries were worth $5,582,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in MLI. Golden State Wealth Management LLC lifted its position in shares of Mueller Industries by 103.1% during the 1st quarter. Golden State Wealth Management LLC now owns 331 shares of the industrial products company’s stock worth $25,000 after buying an additional 168 shares during the last quarter. Arizona State Retirement System lifted its stake in shares of Mueller Industries by 0.5% in the 4th quarter. Arizona State Retirement System now owns 31,245 shares of the industrial products company’s stock valued at $2,480,000 after acquiring an additional 170 shares during the last quarter. Benjamin Edwards Inc. lifted its stake in shares of Mueller Industries by 5.0% in the 4th quarter. Benjamin Edwards Inc. now owns 3,934 shares of the industrial products company’s stock valued at $312,000 after acquiring an additional 187 shares during the last quarter. Texas Yale Capital Corp. raised its position in Mueller Industries by 6.0% in the fourth quarter. Texas Yale Capital Corp. now owns 3,560 shares of the industrial products company’s stock valued at $283,000 after purchasing an additional 200 shares during the last quarter. Finally, Monument Capital Management raised its position in Mueller Industries by 4.4% in the first quarter. Monument Capital Management now owns 4,898 shares of the industrial products company’s stock valued at $373,000 after purchasing an additional 206 shares during the last quarter. Institutional investors own 94.50% of the company’s stock.

Insider Transactions at Mueller Industries

In related news, Director Terry Hermanson sold 10,000 shares of Mueller Industries stock in a transaction on Tuesday, May 6th. The shares were sold at an average price of $74.34, for a total transaction of $743,400.00. Following the completion of the transaction, the director owned 100,082 shares of the company’s stock, valued at $7,440,095.88. This trade represents a 9.08% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Scott Jay Goldman sold 16,483 shares of Mueller Industries stock in a transaction on Tuesday, April 29th. The stock was sold at an average price of $73.46, for a total transaction of $1,210,841.18. Following the transaction, the director directly owned 39,615 shares of the company’s stock, valued at $2,910,117.90. This represents a 29.38% decrease in their position. The disclosure for this sale can be found here. Insiders sold 29,613 shares of company stock worth $2,198,600 over the last ninety days. 2.70% of the stock is owned by insiders.

Mueller Industries Price Performance

Shares of NYSE MLI opened at $83.33 on Wednesday. The company has a 50 day simple moving average of $77.40 and a 200 day simple moving average of $77.89. The firm has a market cap of $9.22 billion, a PE ratio of 15.18 and a beta of 1.01. Mueller Industries, Inc. has a 1 year low of $55.72 and a 1 year high of $96.81.

Mueller Industries (NYSE:MLI) last released its quarterly earnings results on Tuesday, April 22nd. The industrial products company reported $1.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.31 by $0.08. The firm had revenue of $1 billion during the quarter, compared to the consensus estimate of $1 billion. Mueller Industries had a net margin of 15.92% and a return on equity of 23.17%.

Mueller Industries Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 20th. Stockholders of record on Friday, June 6th were given a dividend of $0.25 per share. The ex-dividend date was Friday, June 6th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.20%. Mueller Industries’s dividend payout ratio (DPR) is 18.21%.

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.