Cary Street Partners Financial LLC Sells 4,209 Shares of Mueller Industries, Inc. (NYSE:MLI)

Cary Street Partners Financial LLC reduced its position in Mueller Industries, Inc. (NYSE:MLI) by 2.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 180,402 shares of the industrial products company’s stock after selling 4,209 shares during the quarter. Cary Street Partners Financial LLC owned 0.16% of Mueller Industries worth $13,736,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Golden State Wealth Management LLC raised its holdings in shares of Mueller Industries by 103.1% in the first quarter. Golden State Wealth Management LLC now owns 331 shares of the industrial products company’s stock valued at $25,000 after acquiring an additional 168 shares in the last quarter. Benjamin Edwards Inc. raised its holdings in shares of Mueller Industries by 5.0% in the fourth 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 in the last quarter. Hohimer Wealth Management LLC raised its holdings in shares of Mueller Industries by 4.4% in the first quarter. Hohimer Wealth Management LLC now owns 4,463 shares of the industrial products company’s stock valued at $340,000 after acquiring an additional 187 shares in the last quarter. Texas Yale Capital Corp. raised its holdings in shares of 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 acquiring an additional 200 shares in the last quarter. Finally, Monument Capital Management raised its holdings in shares of 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 acquiring an additional 206 shares in the last quarter. 94.50% of the stock is currently owned by institutional investors.

Mueller Industries Price Performance

MLI stock opened at $85.05 on Tuesday. The business has a 50-day moving average price of $81.04 and a 200 day moving average price of $78.64. The company has a market capitalization of $9.42 billion, a P/E ratio of 13.50 and a beta of 1.02. Mueller Industries, Inc. has a 1-year low of $62.74 and a 1-year high of $96.81.

Mueller Industries (NYSE:MLI) last announced its earnings results on Tuesday, July 22nd. The industrial products company reported $1.96 EPS for the quarter, topping analysts’ consensus estimates of $1.62 by $0.34. The business had revenue of $1.14 billion during the quarter, compared to the consensus estimate of $1.12 billion. Mueller Industries had a net margin of 17.48% and a return on equity of 24.47%. The firm’s quarterly revenue was up 14.1% compared to the same quarter last year.

Mueller Industries Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, September 19th. Shareholders of record on Friday, September 5th will be issued a $0.25 dividend. The ex-dividend date is Friday, September 5th. This represents a $1.00 dividend on an annualized basis and a yield of 1.2%. Mueller Industries’s payout ratio is currently 15.87%.

Insider Buying and Selling

In other Mueller Industries news, Director John B. Hansen sold 3,130 shares of the business’s stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $78.07, for a total value of $244,359.10. Following the completion of the transaction, the director directly owned 93,914 shares in the company, valued at approximately $7,331,865.98. The trade was a 3.23% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 2.70% of the company’s stock.

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.