Cary Street Partners Investment Advisory LLC Acquires 97,140 Shares of Mueller Industries, Inc. (NYSE:MLI)

Cary Street Partners Investment Advisory LLC raised its position in Mueller Industries, Inc. (NYSE:MLI - Free Report) by 100.1% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 194,186 shares of the industrial products company's stock after buying an additional 97,140 shares during the quarter. Cary Street Partners Investment Advisory LLC owned about 0.17% of Mueller Industries worth $9,156,000 as of its most recent filing with the SEC.

A number of other large investors also recently bought and sold shares of the company. Fifth Third Bancorp grew its holdings in Mueller Industries by 124.3% during the fourth quarter. Fifth Third Bancorp now owns 527 shares of the industrial products company's stock worth $25,000 after acquiring an additional 292 shares during the period. Larson Financial Group LLC grew its stake in shares of Mueller Industries by 100.0% during the 4th quarter. Larson Financial Group LLC now owns 598 shares of the industrial products company's stock worth $28,000 after purchasing an additional 299 shares during the period. Beaird Harris Wealth Management LLC purchased a new position in shares of Mueller Industries in the 3rd quarter valued at about $30,000. Montag A & Associates Inc. acquired a new stake in shares of Mueller Industries in the fourth quarter valued at about $34,000. Finally, Adirondack Trust Co. purchased a new stake in Mueller Industries during the third quarter worth about $45,000. Hedge funds and other institutional investors own 94.50% of the company's stock.

Analyst Ratings Changes

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

Insider Buying and Selling at Mueller Industries

In related news, Director John B. Hansen sold 4,000 shares of the business's stock in a transaction dated Thursday, April 25th. The shares were sold at an average price of $57.29, for a total value of $229,160.00. Following the completion of the transaction, the director now owns 104,214 shares of the company's stock, valued at approximately $5,970,420.06. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Mueller Industries news, CFO Jeffrey Andrew Martin sold 52,436 shares of the company's stock in a transaction dated Friday, April 26th. The shares were sold at an average price of $57.25, for a total value of $3,001,961.00. Following the transaction, the chief financial officer now directly owns 313,529 shares in the company, valued at approximately $17,949,535.25. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director John B. Hansen sold 4,000 shares of the stock in a transaction dated Thursday, April 25th. The stock was sold at an average price of $57.29, for a total transaction of $229,160.00. Following the transaction, the director now owns 104,214 shares in the company, valued at $5,970,420.06. The disclosure for this sale can be found here. 2.80% of the stock is owned by insiders.

Mueller Industries Stock Performance

NYSE MLI traded up $0.41 during trading hours on Friday, reaching $59.27. The company's stock had a trading volume of 387,772 shares, compared to its average volume of 709,042. The company's 50-day moving average is $54.00 and its two-hundred day moving average is $48.16. Mueller Industries, Inc. has a fifty-two week low of $34.96 and a fifty-two week high of $59.59. The stock has a market cap of $6.73 billion, a PE ratio of 11.88 and a beta of 1.08.

Mueller Industries Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 21st. Investors of record on Friday, June 7th will be paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 1.35%. Mueller Industries's payout ratio is currently 16.03%.

Mueller Industries 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.