Stratos Wealth Partners LTD. Sells 4,086 Shares of Mueller Industries, Inc. (NYSE:MLI)

Stratos Wealth Partners LTD. lessened its position in shares of Mueller Industries, Inc. (NYSE:MLI - Free Report) by 5.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 73,311 shares of the industrial products company's stock after selling 4,086 shares during the period. Stratos Wealth Partners LTD. owned 0.07% of Mueller Industries worth $5,582,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Golden State Wealth Management LLC raised its stake in shares of Mueller Industries by 103.1% during the 1st quarter. Golden State Wealth Management LLC now owns 331 shares of the industrial products company's stock valued at $25,000 after purchasing an additional 168 shares during the period. New Age Alpha Advisors LLC bought a new stake in shares of Mueller Industries during the 4th quarter valued at $32,000. Wayfinding Financial LLC bought a new stake in shares of Mueller Industries during the 1st quarter valued at $34,000. Opal Wealth Advisors LLC bought a new stake in shares of Mueller Industries during the 1st quarter valued at $40,000. Finally, Quarry LP bought a new stake in shares of Mueller Industries during the 4th quarter valued at $45,000. Hedge funds and other institutional investors own 94.50% of the company's stock.

Insider Buying and Selling at Mueller Industries

In other Mueller Industries news, Director John B. Hansen sold 3,130 shares of the firm's stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $78.07, for a total value of $244,359.10. Following the sale, the director owned 93,914 shares of the company's stock, valued at $7,331,865.98. This trade represents a 3.23% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Scott Jay Goldman sold 16,483 shares of the firm's stock in a transaction dated Tuesday, April 29th. The shares were sold at an average price of $73.46, for a total value of $1,210,841.18. Following the completion of the sale, the director directly owned 39,615 shares in the company, valued at approximately $2,910,117.90. The trade was a 29.38% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 29,613 shares of company stock valued at $2,198,600 in the last 90 days. Corporate insiders own 2.70% of the company's stock.

Mueller Industries Stock Up 0.7%

Shares of NYSE:MLI traded up $0.63 during midday trading on Friday, reaching $86.25. 965,822 shares of the company traded hands, compared to its average volume of 1,043,365. Mueller Industries, Inc. has a 12 month low of $58.31 and a 12 month high of $96.81. The firm has a market capitalization of $9.54 billion, a price-to-earnings ratio of 15.71 and a beta of 1.01. The firm's fifty day moving average price is $77.87 and its two-hundred day moving average price is $77.98.

Mueller Industries (NYSE:MLI - Get Free Report) last released its quarterly earnings data on Tuesday, April 22nd. The industrial products company reported $1.39 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.31 by $0.08. Mueller Industries had a return on equity of 23.17% and a net margin of 15.92%. The company had revenue of $1 billion for the quarter, compared to analyst estimates of $1 billion.

Mueller Industries Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 20th. Shareholders of record on Friday, June 6th were issued a $0.25 dividend. The ex-dividend date of this dividend was Friday, June 6th. This represents a $1.00 annualized dividend and a dividend yield of 1.16%. Mueller Industries's payout ratio is currently 18.21%.

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.