Corient Private Wealth LLC Trims Position in Mueller Industries, Inc. (NYSE:MLI)

Corient Private Wealth LLC decreased its holdings in Mueller Industries, Inc. (NYSE:MLI) by 15.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 14,278 shares of the industrial products company’s stock after selling 2,558 shares during the quarter. Corient Private Wealth LLC’s holdings in Mueller Industries were worth $1,133,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Arizona State Retirement System raised its position in shares of Mueller Industries by 0.5% in the 4th quarter. Arizona State Retirement System now owns 31,245 shares of the industrial products company’s stock worth $2,480,000 after acquiring an additional 170 shares in the last quarter. CIBC Asset Management Inc raised its holdings in Mueller Industries by 5.3% in the fourth quarter. CIBC Asset Management Inc now owns 3,447 shares of the industrial products company’s stock worth $274,000 after purchasing an additional 174 shares in the last quarter. Caprock Group LLC boosted its holdings in shares of Mueller Industries by 2.3% during the 4th quarter. Caprock Group LLC now owns 8,495 shares of the industrial products company’s stock valued at $674,000 after buying an additional 194 shares in the last quarter. Kestra Investment Management LLC grew its position in shares of Mueller Industries by 7.7% in the 4th quarter. Kestra Investment Management LLC now owns 3,045 shares of the industrial products company’s stock worth $242,000 after buying an additional 218 shares during the period. Finally, GAMMA Investing LLC increased its stake in shares of Mueller Industries by 46.7% in the 4th quarter. GAMMA Investing LLC now owns 810 shares of the industrial products company’s stock worth $64,000 after acquiring an additional 258 shares in the last quarter. Institutional investors own 94.50% of the company’s stock.

Insider Transactions at Mueller Industries

In related news, Director Scott Jay Goldman sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, February 13th. The shares were sold at an average price of $79.81, for a total value of $798,100.00. Following the completion of the transaction, the director now directly owns 56,098 shares in the company, valued at $4,477,181.38. The trade was a 15.13 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 2.80% of the company’s stock.

Mueller Industries Stock Down 0.4 %

MLI stock opened at $78.93 on Thursday. The business has a 50 day moving average of $80.11 and a 200 day moving average of $79.57. The firm has a market cap of $8.94 billion, a PE ratio of 14.86 and a beta of 0.99. Mueller Industries, Inc. has a twelve month low of $50.85 and a twelve month high of $96.81.

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

Mueller Industries Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, March 14th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Friday, March 14th. This is a boost from Mueller Industries’s previous quarterly dividend of $0.20. This represents a $1.00 annualized dividend and a yield of 1.27%. Mueller Industries’s payout ratio is 18.83%.

Analysts Set New Price Targets

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

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.