Spectrum Wealth Counsel LLC Lowers Stake in Mueller Industries, Inc. (NYSE:MLI)

Spectrum Wealth Counsel LLC lowered its position in shares of Mueller Industries, Inc. (NYSE:MLI) by 40.7% during the 1st quarter, Holdings Channel.com reports. The firm owned 37,079 shares of the industrial products company’s stock after selling 25,452 shares during the period. Spectrum Wealth Counsel LLC’s holdings in Mueller Industries were worth $2,823,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in MLI. Golden State Wealth Management LLC raised its position 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 stake in shares of Mueller Industries during the fourth quarter valued at approximately $32,000. Wayfinding Financial LLC bought a new stake in shares of Mueller Industries during the first quarter valued at approximately $34,000. Opal Wealth Advisors LLC bought a new stake in shares of Mueller Industries during the first quarter valued at approximately $40,000. Finally, Quarry LP bought a new stake in shares of Mueller Industries during the fourth quarter valued at approximately $45,000. Hedge funds and other institutional investors own 94.50% of the company’s stock.

Insider Buying and Selling

In related news, Director John B. Hansen sold 3,130 shares of the business’s stock in a transaction on Monday, May 12th. The shares were sold at an average price of $78.07, for a total value of $244,359.10. Following the sale, the director 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 is accessible through this hyperlink. Also, Director Scott Jay Goldman sold 16,483 shares of the business’s 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 completion of the sale, the director owned 39,615 shares in the company, valued at $2,910,117.90. This represents a 29.38% 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 worth $2,198,600. Insiders own 2.70% of the company’s stock.

Mueller Industries Price Performance

Mueller Industries stock opened at $88.71 on Friday. The stock has a market cap of $9.82 billion, a P/E ratio of 14.08 and a beta of 1.01. Mueller Industries, Inc. has a 1 year low of $62.74 and a 1 year high of $96.81. The firm’s 50 day moving average price is $79.92 and its 200-day moving average price is $78.41.

Mueller Industries (NYSE:MLI) last released its quarterly earnings data on Tuesday, July 22nd. The industrial products company reported $1.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.62 by $0.34. The firm had revenue of $1.14 billion for the quarter, compared to analysts’ expectations of $1.12 billion. Mueller Industries had a net margin of 17.48% and a return on equity of 24.47%. The company’s revenue was up 14.1% on a year-over-year basis.

Mueller Industries Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 20th. Investors of record on Friday, June 6th were given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.13%. The ex-dividend date of this dividend was Friday, June 6th. Mueller Industries’s dividend payout ratio is presently 15.87%.

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.