Venturi Wealth Management LLC Boosts Position in Mueller Industries, Inc. (NYSE:MLI)

Venturi Wealth Management LLC lifted its position in shares of Mueller Industries, Inc. (NYSE:MLI - Free Report) by 103.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 215,636 shares of the industrial products company's stock after purchasing an additional 109,491 shares during the period. Venturi Wealth Management LLC owned 0.19% of Mueller Industries worth $10,167,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the company. Raymond James & Associates bought a new position in shares of Mueller Industries in the first quarter valued at about $379,000. HighTower Advisors LLC lifted its position in Mueller Industries by 18.7% during the first quarter. HighTower Advisors LLC now owns 4,400 shares of the industrial products company's stock worth $239,000 after acquiring an additional 693 shares during the last quarter. Citigroup Inc. grew its position in shares of Mueller Industries by 9.4% in the first quarter. Citigroup Inc. now owns 49,850 shares of the industrial products company's stock valued at $2,700,000 after purchasing an additional 4,289 shares during the last quarter. Natixis Advisors L.P. increased its stake in shares of Mueller Industries by 18.1% during the first quarter. Natixis Advisors L.P. now owns 11,931 shares of the industrial products company's stock worth $646,000 after purchasing an additional 1,826 shares during the period. Finally, Acadian Asset Management LLC lifted its holdings in Mueller Industries by 607.0% during the 1st quarter. Acadian Asset Management LLC now owns 11,949 shares of the industrial products company's stock worth $644,000 after purchasing an additional 10,259 shares during the last quarter. 94.50% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have issued reports on MLI shares. StockNews.com lowered shares of Mueller Industries from a "buy" rating to a "hold" rating in a research report on Monday, January 22nd. Northcoast Research reaffirmed a "neutral" rating on shares of Mueller Industries in a research report on Friday, January 19th.

Insider Buying and Selling

In related news, CFO Jeffrey Andrew Martin sold 47,280 shares of the business's stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $49.25, for a total transaction of $2,328,540.00. Following the transaction, the chief financial officer now owns 370,840 shares in the company, valued at approximately $18,263,870. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CFO Jeffrey Andrew Martin sold 47,280 shares of the firm's stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $49.25, for a total value of $2,328,540.00. Following the transaction, the chief financial officer now owns 370,840 shares in the company, valued at $18,263,870. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director John B. Hansen sold 5,000 shares of the stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $49.33, for a total transaction of $246,650.00. Following the transaction, the director now owns 18,000 shares of the company's stock, valued at approximately $887,940. The disclosure for this sale can be found here. 2.80% of the stock is currently owned by insiders.

Mueller Industries Trading Down 0.8 %

NYSE:MLI traded down $0.43 during mid-day trading on Thursday, hitting $52.77. 457,877 shares of the company's stock were exchanged, compared to its average volume of 678,349. Mueller Industries, Inc. has a fifty-two week low of $32.94 and a fifty-two week high of $54.64. The company has a 50 day simple moving average of $50.91 and a 200-day simple moving average of $45.12. The firm has a market capitalization of $5.99 billion, a P/E ratio of 9.93 and a beta of 1.08.

Mueller Industries (NYSE:MLI - Get Free Report) last released its quarterly earnings results on Tuesday, February 6th. The industrial products company reported $1.05 EPS for the quarter. Mueller Industries had a return on equity of 27.59% and a net margin of 17.63%. The firm had revenue of $732.38 million for the quarter.

Mueller Industries Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 15th were given a dividend of $0.20 per share. This is a positive change from Mueller Industries's previous quarterly dividend of $0.15. The ex-dividend date was Thursday, March 14th. This represents a $0.80 annualized dividend and a dividend yield of 1.52%. Mueller Industries's dividend payout ratio is presently 15.05%.

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.