Millington Financial Advisors LLC Sells 1,551 Shares of Mueller Industries, Inc. (NYSE:MLI)

Millington Financial Advisors LLC cut its holdings in Mueller Industries, Inc. (NYSE:MLI) by 4.3% during the fourth quarter, Holdings Channel reports. The firm owned 34,107 shares of the industrial products company’s stock after selling 1,551 shares during the quarter. Mueller Industries makes up 1.6% of Millington Financial Advisors LLC’s portfolio, making the stock its 18th biggest holding. Millington Financial Advisors LLC’s holdings in Mueller Industries were worth $2,661,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in MLI. New York State Common Retirement Fund boosted its holdings in shares of Mueller Industries by 20.4% during the 3rd quarter. New York State Common Retirement Fund now owns 405,618 shares of the industrial products company’s stock valued at $30,056,000 after purchasing an additional 68,633 shares during the last quarter. State Street Corp boosted its stake in Mueller Industries by 3.2% during the third quarter. State Street Corp now owns 4,451,143 shares of the industrial products company’s stock valued at $329,830,000 after buying an additional 139,406 shares during the last quarter. Farther Finance Advisors LLC grew its holdings in Mueller Industries by 1,322.6% during the 3rd quarter. Farther Finance Advisors LLC now owns 8,436 shares of the industrial products company’s stock valued at $625,000 after buying an additional 7,843 shares in the last quarter. Flagship Harbor Advisors LLC purchased a new position in Mueller Industries during the 4th quarter valued at approximately $300,000. Finally, Merit Financial Group LLC bought a new stake in Mueller Industries in the 4th quarter worth approximately $287,000. 94.50% of the stock is currently owned by institutional investors.

Insider Activity

In related news, Director Scott Jay Goldman sold 10,000 shares of the firm’s stock in a transaction on Thursday, February 13th. The stock was sold at an average price of $79.81, for a total value of $798,100.00. Following the completion of the sale, the director now directly owns 56,098 shares in the company, valued at $4,477,181.38. This trade represents a 15.13 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 2.80% of the company’s stock.

Analyst Ratings Changes

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

Mueller Industries Stock Up 1.6 %

Shares of NYSE:MLI opened at $79.66 on Tuesday. The firm has a fifty day simple moving average of $80.22 and a two-hundred day simple moving average of $77.99. Mueller Industries, Inc. has a 52 week low of $49.10 and a 52 week high of $96.81. The stock has a market capitalization of $9.06 billion, a P/E ratio of 15.00 and a beta of 0.98.

Mueller Industries (NYSE:MLI) last announced its quarterly earnings results on Tuesday, February 4th. The industrial products company reported $1.21 EPS for the quarter, beating analysts’ consensus estimates of $1.12 by $0.09. Mueller Industries had a net margin of 16.05% and a return on equity of 22.97%.

Mueller Industries Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 14th will be issued a $0.25 dividend. This is a boost from Mueller Industries’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend is Friday, March 14th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.26%. Mueller Industries’s payout ratio is 18.83%.

About Mueller Industries

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.