TD Private Client Wealth LLC Has $666,000 Stock Position in Mueller Industries, Inc. (NYSE:MLI)

TD Private Client Wealth LLC grew its holdings in shares of Mueller Industries, Inc. (NYSE:MLI) by 218.7% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,747 shares of the industrial products company’s stock after buying an additional 6,002 shares during the quarter. TD Private Client Wealth LLC’s holdings in Mueller Industries were worth $666,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in MLI. Golden State Wealth Management LLC grew its holdings in shares of Mueller Industries by 103.1% during the first quarter. Golden State Wealth Management LLC now owns 331 shares of the industrial products company’s stock valued at $25,000 after buying an additional 168 shares during the last quarter. New Age Alpha Advisors LLC bought a new position in shares of Mueller Industries during the fourth quarter valued at about $32,000. Wayfinding Financial LLC bought a new position in shares of Mueller Industries during the first quarter valued at about $34,000. Opal Wealth Advisors LLC bought a new position in shares of Mueller Industries during the first quarter valued at about $40,000. Finally, Quarry LP bought a new position in shares of Mueller Industries during the fourth quarter valued at about $45,000. 94.50% of the stock is currently owned by institutional investors and hedge funds.

Mueller Industries Price Performance

MLI opened at $84.82 on Thursday. The company’s 50-day moving average is $77.63 and its 200 day moving average is $77.94. Mueller Industries, Inc. has a fifty-two week low of $56.07 and a fifty-two week high of $96.81. The firm has a market capitalization of $9.39 billion, a P/E ratio of 15.45 and a beta of 1.01.

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

Mueller Industries Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 20th. Shareholders of record on Friday, June 6th were given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.18%. The ex-dividend date of this dividend was Friday, June 6th. Mueller Industries’s dividend payout ratio is 18.21%.

Insiders Place Their Bets

In other Mueller Industries news, Director Terry Hermanson sold 10,000 shares of Mueller Industries stock in a transaction dated Tuesday, May 6th. The shares were sold at an average price of $74.34, for a total value of $743,400.00. Following the sale, the director owned 100,082 shares of the company’s stock, valued at approximately $7,440,095.88. The trade was a 9.08% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director John B. Hansen sold 3,130 shares of Mueller Industries stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $78.07, for a total transaction of $244,359.10. Following the completion of the sale, the director directly owned 93,914 shares in the company, valued at approximately $7,331,865.98. This represents a 3.23% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 29,613 shares of company stock valued at $2,198,600. Company insiders own 2.70% of the company’s stock.

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.