Mueller Industries, Inc. $MLI Shares Sold by Fielder Capital Group LLC

Fielder Capital Group LLC cut its position in Mueller Industries, Inc. (NYSE:MLI) by 25.2% during the second quarter, HoldingsChannel.com reports. The fund owned 42,549 shares of the industrial products company’s stock after selling 14,349 shares during the period. Fielder Capital Group LLC’s holdings in Mueller Industries were worth $3,381,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the company. Total Wealth Planning & Management Inc. boosted its stake in Mueller Industries by 2.5% during the second quarter. Total Wealth Planning & Management Inc. now owns 5,948 shares of the industrial products company’s stock worth $473,000 after buying an additional 144 shares during the last quarter. Contravisory Investment Management Inc. boosted its stake in Mueller Industries by 6.2% during the second quarter. Contravisory Investment Management Inc. now owns 2,611 shares of the industrial products company’s stock worth $207,000 after buying an additional 152 shares during the last quarter. Golden State Wealth Management LLC boosted its stake in 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 worth $25,000 after buying an additional 168 shares during the last quarter. Rowlandmiller & PARTNERS.ADV boosted its stake in Mueller Industries by 3.4% during the second quarter. Rowlandmiller & PARTNERS.ADV now owns 5,560 shares of the industrial products company’s stock worth $442,000 after buying an additional 185 shares during the last quarter. Finally, Hohimer Wealth Management LLC boosted its stake in Mueller Industries by 4.4% during the first quarter. Hohimer Wealth Management LLC now owns 4,463 shares of the industrial products company’s stock worth $340,000 after buying an additional 187 shares during the last quarter. 94.50% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Mueller Industries

In other news, Director John B. Hansen sold 1,000 shares of the company’s stock in a transaction on Thursday, October 23rd. The stock was sold at an average price of $105.71, for a total value of $105,710.00. Following the transaction, the director owned 91,664 shares of the company’s stock, valued at $9,689,801.44. This represents a 1.08% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 2.70% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Separately, Weiss Ratings reissued a “buy (b)” rating on shares of Mueller Industries in a research note on Wednesday, October 8th. Two research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $105.00.

Mueller Industries Stock Down 1.2%

Shares of Mueller Industries stock opened at $102.98 on Friday. Mueller Industries, Inc. has a 52 week low of $66.84 and a 52 week high of $106.28. The business’s fifty day simple moving average is $98.35 and its 200-day simple moving average is $85.96. The firm has a market cap of $11.43 billion, a PE ratio of 15.37 and a beta of 1.02.

Mueller Industries (NYSE:MLI) last announced its quarterly earnings results on Tuesday, October 21st. The industrial products company reported $1.88 EPS for the quarter, missing the consensus estimate of $1.99 by ($0.11). Mueller Industries had a net margin of 18.10% and a return on equity of 25.02%. The business had revenue of $1.08 billion during the quarter, compared to analyst estimates of $942.00 million. During the same period last year, the company earned $1.48 EPS. The business’s revenue for the quarter was up 8.0% on a year-over-year basis.

Mueller Industries Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 19th. Stockholders of record on Friday, September 5th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.0%. The ex-dividend date of this dividend was Friday, September 5th. Mueller Industries’s dividend payout ratio is 14.93%.

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.