Moran Wealth Management LLC Has $5.45 Million Stock Position in Mueller Industries, Inc. $MLI

Key Points

• Moran Wealth Management LLC reduced its stake in Mueller Industries by 4.6%, now holding 68,518 shares worth approximately $5.45 million.
• Mueller Industries reported a quarterly earnings of $1.96 earnings per share, exceeding analysts' expectations and indicating a 14.1% revenue increase from the previous year.
• The company recently declared a $0.25 quarterly dividend, representing a 1.0% yield and an annualized dividend of $1.00.

Moran Wealth Management LLC lowered its stake in shares of Mueller Industries, Inc. (NYSE:MLI - Free Report) by 4.6% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 68,518 shares of the industrial products company's stock after selling 3,303 shares during the period. Moran Wealth Management LLC owned approximately 0.06% of Mueller Industries worth $5,445,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the stock. Total Wealth Planning & Management Inc. raised its holdings in shares of Mueller Industries by 2.5% during the second quarter. Total Wealth Planning & Management Inc. now owns 5,948 shares of the industrial products company's stock valued at $473,000 after purchasing an additional 144 shares during the period. Contravisory Investment Management Inc. raised its holdings in shares of Mueller Industries by 6.2% in the 2nd quarter. Contravisory Investment Management Inc. now owns 2,611 shares of the industrial products company's stock worth $207,000 after acquiring an additional 152 shares during the last quarter. Golden State Wealth Management LLC raised its holdings in shares of Mueller Industries by 103.1% in the 1st quarter. Golden State Wealth Management LLC now owns 331 shares of the industrial products company's stock worth $25,000 after acquiring an additional 168 shares during the last quarter. Rowlandmiller & PARTNERS.ADV raised its holdings in shares of Mueller Industries by 3.4% in the 2nd quarter. Rowlandmiller & PARTNERS.ADV now owns 5,560 shares of the industrial products company's stock worth $442,000 after acquiring an additional 185 shares during the last quarter. Finally, Hohimer Wealth Management LLC raised its holdings in shares of Mueller Industries by 4.4% in the 1st quarter. Hohimer Wealth Management LLC now owns 4,463 shares of the industrial products company's stock worth $340,000 after acquiring an additional 187 shares during the last quarter. Institutional investors and hedge funds own 94.50% of the company's stock.

Insider Transactions at Mueller Industries

In other Mueller Industries news, Director John B. Hansen sold 1,000 shares of the company's stock in a transaction dated Tuesday, August 12th. The shares were sold at an average price of $91.97, for a total value of $91,970.00. Following the completion of the sale, the director directly owned 92,664 shares of the company's stock, valued at approximately $8,522,308.08. This represents a 1.07% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 2.70% of the company's stock.

Mueller Industries Price Performance

MLI opened at $99.88 on Wednesday. Mueller Industries, Inc. has a fifty-two week low of $66.84 and a fifty-two week high of $102.75. The firm has a market capitalization of $11.06 billion, a PE ratio of 15.85 and a beta of 1.02. The company's 50-day moving average is $96.60 and its 200 day moving average is $84.49.

Mueller Industries (NYSE:MLI - Get Free Report) last issued its quarterly earnings data on Tuesday, July 22nd. The industrial products company reported $1.96 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.62 by $0.34. Mueller Industries had a net margin of 17.48% and a return on equity of 24.47%. The business had revenue of $1.14 billion during the quarter, compared to the consensus estimate of $1.12 billion. The firm's revenue was up 14.1% compared to the same quarter last year.

Mueller Industries Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 19th. Shareholders of record on Friday, September 5th were given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date of this dividend was Friday, September 5th. Mueller Industries's dividend payout ratio is presently 15.87%.

Analyst Ratings Changes

Separately, Weiss Ratings restated a "buy (b)" rating on shares of Mueller Industries in a report on Wednesday, October 8th. Two investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat, Mueller Industries currently has a consensus rating of "Buy" and a consensus target price of $105.00.

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.

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