Captrust Financial Advisors Buys Shares of 2,903 Mueller Industries, Inc. (NYSE:MLI)

Captrust Financial Advisors acquired a new position in Mueller Industries, Inc. (NYSE:MLI) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 2,903 shares of the industrial products company’s stock, valued at approximately $215,000.

Other large investors have also recently made changes to their positions in the company. New York State Common Retirement Fund lifted its holdings in shares of Mueller Industries by 20.4% in the 3rd quarter. New York State Common Retirement Fund now owns 405,618 shares of the industrial products company’s stock worth $30,056,000 after acquiring an additional 68,633 shares during the last quarter. Farther Finance Advisors LLC lifted its holdings in shares of Mueller Industries by 1,322.6% in the 3rd quarter. Farther Finance Advisors LLC now owns 8,436 shares of the industrial products company’s stock worth $625,000 after acquiring an additional 7,843 shares during the last quarter. Creative Planning lifted its holdings in shares of Mueller Industries by 36.5% in the 3rd quarter. Creative Planning now owns 40,081 shares of the industrial products company’s stock worth $2,970,000 after acquiring an additional 10,714 shares during the last quarter. Catalyst Capital Advisors LLC increased its stake in Mueller Industries by 8,040.2% during the 3rd quarter. Catalyst Capital Advisors LLC now owns 19,455 shares of the industrial products company’s stock worth $1,442,000 after buying an additional 19,216 shares during the period. Finally, Narwhal Capital Management increased its stake in Mueller Industries by 114.2% during the 3rd quarter. Narwhal Capital Management now owns 29,836 shares of the industrial products company’s stock worth $2,211,000 after buying an additional 15,904 shares during the period. 94.50% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Mueller Industries

In related news, Director John B. Hansen sold 1,000 shares of the stock in a transaction on Wednesday, October 30th. The shares were sold at an average price of $83.09, for a total transaction of $83,090.00. Following the completion of the sale, the director now owns 94,914 shares in the company, valued at $7,886,404.26. This represents a 1.04 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Charles P. Herzog, Jr. sold 15,000 shares of the stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $92.04, for a total transaction of $1,380,600.00. Following the sale, the director now owns 17,733 shares of the company’s stock, valued at approximately $1,632,145.32. This represents a 45.83 % decrease in their position. The disclosure for this sale can be found here. Insiders own 2.80% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Mueller Industries Stock Down 0.6 %

Shares of MLI opened at $82.48 on Monday. Mueller Industries, Inc. has a fifty-two week low of $44.03 and a fifty-two week high of $96.81. The firm’s 50 day moving average price is $82.18 and its 200 day moving average price is $70.78. The company has a market cap of $9.38 billion, a P/E ratio of 16.02 and a beta of 0.99.

Mueller Industries (NYSE:MLI) last announced its quarterly earnings data on Tuesday, October 22nd. The industrial products company reported $1.48 EPS for the quarter, beating analysts’ consensus estimates of $1.32 by $0.16. Mueller Industries had a net margin of 16.39% and a return on equity of 23.25%. The company had revenue of $997.80 million for the quarter, compared to the consensus estimate of $936.00 million. Mueller Industries’s quarterly revenue was up 21.7% on a year-over-year basis.

Mueller Industries Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Friday, December 6th will be given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.97%. The ex-dividend date is Friday, December 6th. Mueller Industries’s dividend payout ratio is presently 15.53%.

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.