B. Riley Wealth Advisors Inc. Increases Stock Position in Mueller Industries, Inc. (NYSE:MLI)

B. Riley Wealth Advisors Inc. lifted its holdings in Mueller Industries, Inc. (NYSE:MLI) by 138.6% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 10,817 shares of the industrial products company’s stock after purchasing an additional 6,284 shares during the period. B. Riley Wealth Advisors Inc.’s holdings in Mueller Industries were worth $616,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Miller Howard Investments Inc. NY lifted its position in Mueller Industries by 2.1% during the second quarter. Miller Howard Investments Inc. NY now owns 7,188 shares of the industrial products company’s stock valued at $409,000 after acquiring an additional 151 shares during the last quarter. Summit Global Investments lifted its position in Mueller Industries by 1.6% during the second quarter. Summit Global Investments now owns 12,844 shares of the industrial products company’s stock valued at $731,000 after acquiring an additional 204 shares during the last quarter. CWM LLC lifted its position in Mueller Industries by 36.9% during the first quarter. CWM LLC now owns 827 shares of the industrial products company’s stock valued at $45,000 after acquiring an additional 223 shares during the last quarter. Hsbc Holdings PLC lifted its position in Mueller Industries by 1.8% during the second quarter. Hsbc Holdings PLC now owns 13,188 shares of the industrial products company’s stock valued at $757,000 after acquiring an additional 233 shares during the last quarter. Finally, Burney Co. lifted its position in Mueller Industries by 0.8% during the second quarter. Burney Co. now owns 29,652 shares of the industrial products company’s stock valued at $1,688,000 after acquiring an additional 236 shares during the last quarter. Hedge funds and other institutional investors own 94.50% of the company’s stock.

Mueller Industries Trading Up 1.2 %

NYSE MLI opened at $72.64 on Friday. The company has a fifty day simple moving average of $69.66 and a two-hundred day simple moving average of $61.33. The stock has a market cap of $8.25 billion, a P/E ratio of 14.56 and a beta of 1.03. Mueller Industries, Inc. has a 12-month low of $34.96 and a 12-month high of $74.47.

Mueller Industries (NYSE:MLI) last posted its quarterly earnings results on Tuesday, July 23rd. The industrial products company reported $1.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.29 by $0.12. The business had revenue of $997.75 million during the quarter. Mueller Industries had a net margin of 16.19% and a return on equity of 22.86%.

Mueller Industries Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 20th. Shareholders of record on Friday, September 6th were issued a $0.20 dividend. The ex-dividend date of this dividend was Friday, September 6th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.10%. Mueller Industries’s dividend payout ratio is currently 16.03%.

Insiders Place Their Bets

In other Mueller Industries news, CEO Gregory L. Christopher sold 50,000 shares of the firm’s stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $69.92, for a total value of $3,496,000.00. Following the completion of the transaction, the chief executive officer now owns 1,214,311 shares of the company’s stock, valued at approximately $84,904,625.12. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, CEO Gregory L. Christopher sold 50,000 shares of the stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $69.92, for a total value of $3,496,000.00. Following the sale, the chief executive officer now owns 1,214,311 shares in the company, valued at $84,904,625.12. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director John B. Hansen sold 8,000 shares of the stock in a transaction on Friday, August 9th. The stock was sold at an average price of $67.24, for a total transaction of $537,920.00. Following the completion of the sale, the director now owns 95,914 shares in the company, valued at $6,449,257.36. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 103,000 shares of company stock valued at $7,081,770. Insiders own 2.80% 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.