Wealth Enhancement Advisory Services LLC Boosts Holdings in Mueller Industries, Inc. $MLI

Key Points

• Wealth Enhancement Advisory Services LLC boosted its stake in Mueller Industries by 291.5% in Q4, acquiring 94,403 shares to hold 126,787 shares valued at about $15.21M (≈0.11% of the company).
• Mueller Industries raised its quarterly dividend from $0.25 to $0.35 (annualized $1.40), implying a ~1.2% yield; the record date is March 13 and the payment date is March 27.
• Two directors recently sold stock (John B. Hansen 1,000 shares at $116.71; Scott Jay Goldman 4,430 shares at $118.97); insiders now own ~2.7% while institutional investors hold ~94.5% of the shares.

Wealth Enhancement Advisory Services LLC boosted its stake in Mueller Industries, Inc. (NYSE:MLI - Free Report) by 291.5% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 126,787 shares of the industrial products company's stock after acquiring an additional 94,403 shares during the period. Wealth Enhancement Advisory Services LLC owned 0.11% of Mueller Industries worth $15,210,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Savant Capital LLC raised its stake in shares of Mueller Industries by 239.2% in the third quarter. Savant Capital LLC now owns 14,145 shares of the industrial products company's stock valued at $1,430,000 after buying an additional 9,975 shares during the period. Ballast Asset Management LP bought a new position in shares of Mueller Industries during the 3rd quarter worth $3,057,000. Ariose Capital Management Ltd purchased a new stake in Mueller Industries in the 3rd quarter worth about $3,904,000. Lecap Asset Management Ltd. bought a new stake in Mueller Industries in the 3rd quarter valued at about $1,503,000. Finally, CPC Advisors LLC bought a new stake in Mueller Industries in the 3rd quarter valued at about $6,579,000. 94.50% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

MLI has been the subject of a number of research reports. Weiss Ratings reiterated a "buy (b)" rating on shares of Mueller Industries in a research report on Thursday, January 22nd. Wall Street Zen lowered shares of Mueller Industries from a "buy" rating to a "hold" rating in a research report on Saturday, February 7th. One investment analyst has rated the stock with a Buy rating, According to MarketBeat.com, Mueller Industries presently has a consensus rating of "Buy".

Insider Buying and Selling

In related news, Director John B. Hansen sold 1,000 shares of the business's stock in a transaction that occurred on Monday, February 9th. The shares were sold at an average price of $116.71, for a total transaction of $116,710.00. Following the completion of the transaction, the director owned 90,664 shares of the company's stock, valued at approximately $10,581,395.44. The trade was a 1.09% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Scott Jay Goldman sold 4,430 shares of the company's stock in a transaction that occurred on Friday, February 13th. The stock was sold at an average price of $118.97, for a total transaction of $527,037.10. Following the sale, the director directly owned 41,645 shares in the company, valued at $4,954,505.65. This trade represents a 9.61% decrease in their position. The disclosure for this sale is available in the SEC filing. 2.70% of the stock is currently owned by company insiders.

Mueller Industries Stock Performance

Shares of NYSE MLI opened at $112.03 on Thursday. Mueller Industries, Inc. has a fifty-two week low of $66.84 and a fifty-two week high of $139.29. The stock has a market cap of $12.43 billion, a PE ratio of 16.31 and a beta of 1.04. The stock has a fifty day moving average of $120.64 and a 200-day moving average of $112.23.

Mueller Industries Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 27th. Stockholders of record on Friday, March 13th will be issued a $0.35 dividend. The ex-dividend date of this dividend is Friday, March 13th. This is a positive change from Mueller Industries's previous quarterly dividend of $0.25. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.2%. Mueller Industries's payout ratio is currently 20.38%.

About Mueller Industries

Mueller Industries, Inc is a diversified manufacturer and marketer of copper, brass, aluminum and plastic products. Headquartered in Memphis, Tennessee, the company serves a wide range of markets including HVAC (heating, ventilation and air conditioning), refrigeration, plumbing, industrial gas, automotive and agricultural sectors. Its product portfolio encompasses copper and plastic tubing, brass fittings, valves and related components designed for fluid handling and temperature control applications.

The company operates through multiple business segments, including the Plumbing & Refrigeration segment, which supplies copper and plastic tubing, fittings and valves for residential and commercial construction markets; the Industrial Metals & Mining segment, which provides aluminum shapes and specialty brass products for industrial applications; and the Climate segment, which focuses on copper tubing and components for air conditioning and refrigeration systems.

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