Stratos Wealth Partners LTD. Has $5.86 Million Stock Position in Mueller Industries, Inc. $MLI

Stratos Wealth Partners LTD. increased its holdings in shares of Mueller Industries, Inc. (NYSE:MLI) by 0.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 73,724 shares of the industrial products company’s stock after buying an additional 413 shares during the quarter. Stratos Wealth Partners LTD.’s holdings in Mueller Industries were worth $5,859,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Golden State Wealth Management LLC increased its holdings in shares of Mueller Industries by 103.1% in the first 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 in the last quarter. Brooklyn Investment Group grew its position in shares of Mueller Industries by 267.3% in the 1st quarter. Brooklyn Investment Group now owns 382 shares of the industrial products company’s stock valued at $29,000 after purchasing an additional 278 shares during the period. Rise Advisors LLC bought a new stake in Mueller Industries during the 1st quarter worth approximately $30,000. Wayfinding Financial LLC acquired a new stake in Mueller Industries during the 1st quarter worth approximately $34,000. Finally, Maseco LLP bought a new position in Mueller Industries in the second quarter valued at approximately $40,000. 94.50% of the stock is currently owned by institutional investors.

Mueller Industries Stock Performance

NYSE MLI opened at $98.58 on Friday. Mueller Industries, Inc. has a 52 week low of $66.84 and a 52 week high of $102.75. The stock’s 50 day moving average price is $97.24 and its two-hundred day moving average price is $84.93. The stock has a market capitalization of $10.91 billion, a price-to-earnings ratio of 15.65 and a beta of 1.02.

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

Mueller Industries Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, September 19th. Shareholders of record on Friday, September 5th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, September 5th. This represents a $1.00 annualized dividend and a yield of 1.0%. Mueller Industries’s payout ratio is 15.87%.

Analysts Set New Price Targets

Separately, Weiss Ratings reiterated a “buy (b)” rating on shares of Mueller Industries in a report on Wednesday, October 8th. Two equities research analysts have rated the stock with a Buy rating, According to MarketBeat, the company currently has an average rating of “Buy” and an average price target of $105.00.

Insider Activity at Mueller Industries

In other news, Director John B. Hansen sold 1,000 shares of the firm’s stock in a transaction dated Tuesday, August 12th. The stock was sold at an average price of $91.97, for a total value of $91,970.00. Following the completion of the transaction, the director owned 92,664 shares in the company, valued at $8,522,308.08. This trade represents a 1.07% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 2.70% of the stock is currently owned by corporate insiders.

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.