Janney Montgomery Scott LLC Sells 1,701 Shares of Mueller Industries, Inc. (NYSE:MLI)

Janney Montgomery Scott LLC lowered its stake in shares of Mueller Industries, Inc. (NYSE:MLI) by 12.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,604 shares of the industrial products company’s stock after selling 1,701 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Mueller Industries were worth $921,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. GAMMA Investing LLC raised its holdings in shares of Mueller Industries by 36.0% in the third quarter. GAMMA Investing LLC now owns 552 shares of the industrial products company’s stock valued at $41,000 after purchasing an additional 146 shares during the last quarter. Westside Investment Management Inc. bought a new stake in Mueller Industries in the 3rd quarter worth about $41,000. City State Bank purchased a new stake in Mueller Industries in the 4th quarter valued at about $58,000. Harbor Capital Advisors Inc. bought a new position in shares of Mueller Industries during the 3rd quarter worth approximately $64,000. Finally, Millburn Ridgefield Corp lifted its position in shares of Mueller Industries by 447.7% during the 3rd quarter. Millburn Ridgefield Corp now owns 1,309 shares of the industrial products company’s stock worth $97,000 after buying an additional 1,070 shares in the last quarter. 94.50% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Separately, Northcoast Research raised Mueller Industries from a “neutral” rating to a “buy” rating and set a $105.00 price target for the company in a research report on Wednesday, December 11th.

Insider Buying and Selling at Mueller Industries

In other news, Director Charles P. Herzog, Jr. sold 15,000 shares of the business’s stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $92.04, for a total value of $1,380,600.00. Following the sale, the director now owns 17,733 shares of the company’s stock, valued at $1,632,145.32. The trade was a 45.83 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 2.80% of the stock is owned by corporate insiders.

Mueller Industries Price Performance

NYSE MLI opened at $78.37 on Thursday. The business’s fifty day moving average is $80.25 and its 200-day moving average is $76.74. The stock has a market capitalization of $8.91 billion, a price-to-earnings ratio of 15.22 and a beta of 0.98. Mueller Industries, Inc. has a one year low of $47.46 and a one year high of $96.81.

Mueller Industries (NYSE:MLI) last announced its quarterly earnings data on Tuesday, February 4th. The industrial products company reported $1.21 EPS for the quarter, topping the consensus estimate of $1.12 by $0.09. Mueller Industries had a net margin of 16.39% and a return on equity of 23.25%.

Mueller Industries Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 20th. Investors of record on Friday, December 6th were paid a $0.20 dividend. The ex-dividend date of this dividend was Friday, December 6th. This represents a $0.80 annualized dividend and a yield of 1.02%. Mueller Industries’s payout ratio is 15.07%.

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.