8,397 Mueller Industries, Inc. $MLI Shares Acquired by Farther Finance Advisors LLC

Farther Finance Advisors LLC grew its stake in Mueller Industries, Inc. (NYSE:MLI) by 103.0% in the 3rd quarter, Holdings Channel reports. The firm owned 16,553 shares of the industrial products company’s stock after purchasing an additional 8,397 shares during the period. Farther Finance Advisors LLC’s holdings in Mueller Industries were worth $1,003,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. CoreCap Advisors LLC boosted its stake in shares of Mueller Industries by 119.9% during the 3rd quarter. CoreCap Advisors LLC now owns 115,861 shares of the industrial products company’s stock valued at $7,022,000 after purchasing an additional 63,164 shares in the last quarter. Apella Capital LLC raised its stake in Mueller Industries by 39.8% in the third quarter. Apella Capital LLC now owns 7,199 shares of the industrial products company’s stock worth $434,000 after buying an additional 2,051 shares in the last quarter. Everhart Financial Group Inc. raised its stake in Mueller Industries by 113.6% in the third quarter. Everhart Financial Group Inc. now owns 3,777 shares of the industrial products company’s stock worth $229,000 after buying an additional 2,009 shares in the last quarter. Canandaigua National Bank & Trust Co. lifted its holdings in Mueller Industries by 99.4% in the third quarter. Canandaigua National Bank & Trust Co. now owns 3,935 shares of the industrial products company’s stock worth $238,000 after buying an additional 1,962 shares during the period. Finally, Central Pacific Bank Trust Division lifted its holdings in Mueller Industries by 100.0% in the third quarter. Central Pacific Bank Trust Division now owns 18,600 shares of the industrial products company’s stock worth $1,127,000 after buying an additional 9,300 shares during the period. 94.50% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Mueller Industries news, Director John B. Hansen sold 1,000 shares of Mueller Industries stock in a transaction on Tuesday, August 4th. The stock was sold at an average price of $68.13, for a total transaction of $68,130.00. Following the completion of the transaction, the director owned 29,000 shares in the company, valued at approximately $1,975,770. The trade was a 3.33% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Gregory L. Christopher sold 200,000 shares of the business’s stock in a transaction on Tuesday, August 11th. The stock was sold at an average price of $68.44, for a total value of $13,688,000.00. Following the completion of the sale, the chief executive officer directly owned 1,598,850 shares in the company, valued at $109,425,294. This trade represents a 11.12% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 275,444 shares of company stock worth $18,885,398 in the last 90 days. Insiders own 2.30% of the company’s stock.

Mueller Industries Price Performance

NYSE:MLI opened at $60.13 on Friday. The firm has a market capitalization of $13.30 billion, a P/E ratio of 15.66 and a beta of 1.08. Mueller Industries, Inc. has a one year low of $48.79 and a one year high of $71.12. The company’s 50-day simple moving average is $62.35 and its 200 day simple moving average is $63.47.

Mueller Industries (NYSE:MLI) last announced its earnings results on Tuesday, July 21st. The industrial products company reported $1.13 earnings per share for the quarter, beating analysts’ consensus estimates of $1.09 by $0.04. Mueller Industries had a net margin of 18.25% and a return on equity of 25.68%. The business had revenue of $1.43 billion during the quarter, compared to the consensus estimate of $1.27 billion. During the same quarter last year, the firm earned $1.96 earnings per share. The business’s revenue for the quarter was up 25.5% on a year-over-year basis.

Mueller Industries Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, September 18th. Investors of record on Friday, September 4th were paid a $0.1750 dividend. The ex-dividend date was Friday, September 4th. This represents a $0.70 annualized dividend and a dividend yield of 1.2%. Mueller Industries’s dividend payout ratio is presently 18.23%.

Analyst Ratings Changes

Several analysts have weighed in on the company. Wall Street Zen cut Mueller Industries from a “strong-buy” rating to a “buy” rating in a research report on Saturday, July 25th. Weiss Ratings reissued a “buy (b)” rating on shares of Mueller Industries in a research report on Thursday. Finally, Northcoast Research upgraded Mueller Industries from a “neutral” rating to a “buy” rating and set a $75.00 target price for the company in a research note on Thursday, July 16th. Two equities research analysts have rated the stock with a Buy rating. According to MarketBeat.com, Mueller Industries has an average rating of “Buy” and a consensus price target of $75.00.

About Mueller Industries

Mueller Industries, Inc manufactures and distributes products made from copper, brass, aluminum, steel and plastic. Its product portfolio includes copper and plastic pipe, fittings, valves, plumbing components, refrigeration and air-conditioning tubing, heat-transfer products, and other fabricated metal products.

The company serves residential, commercial, industrial and infrastructure markets. Its products are used in plumbing, heating, ventilation and air-conditioning systems, refrigeration, fire protection, water distribution, and various industrial applications.