Sequoia Financial Advisors LLC Reduces Holdings in Mueller Industries, Inc. (NYSE:MLI)

Sequoia Financial Advisors LLC trimmed its stake in Mueller Industries, Inc. (NYSE:MLI) by 8.5% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,936 shares of the industrial products company’s stock after selling 458 shares during the period. Sequoia Financial Advisors LLC’s holdings in Mueller Industries were worth $392,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the stock. Charles Schwab Investment Management Inc. grew its stake in shares of Mueller Industries by 27.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,469,736 shares of the industrial products company’s stock valued at $108,907,000 after acquiring an additional 315,490 shares during the period. Allianz Asset Management GmbH lifted its holdings in Mueller Industries by 135.7% during the fourth quarter. Allianz Asset Management GmbH now owns 508,333 shares of the industrial products company’s stock valued at $40,341,000 after purchasing an additional 292,697 shares in the last quarter. Four Tree Island Advisory LLC bought a new position in shares of Mueller Industries in the fourth quarter worth approximately $19,376,000. Caisse DE Depot ET Placement DU Quebec increased its stake in shares of Mueller Industries by 77.4% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 393,417 shares of the industrial products company’s stock worth $29,152,000 after purchasing an additional 171,671 shares in the last quarter. Finally, Barclays PLC raised its position in shares of Mueller Industries by 343.9% during the 3rd quarter. Barclays PLC now owns 197,206 shares of the industrial products company’s stock valued at $14,613,000 after purchasing an additional 152,780 shares during the period. 94.50% of the stock is owned by institutional investors.

Mueller Industries Trading Down 2.5 %

Shares of MLI opened at $79.33 on Wednesday. The business’s 50 day moving average is $80.17 and its 200 day moving average is $79.19. Mueller Industries, Inc. has a 12-month low of $50.85 and a 12-month high of $96.81. The company has a market capitalization of $8.99 billion, a PE ratio of 14.94 and a beta of 0.99.

Mueller Industries (NYSE:MLI) last released its quarterly earnings data on Tuesday, February 4th. The industrial products company reported $1.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.12 by $0.09. Mueller Industries had a net margin of 16.05% and a return on equity of 22.97%.

Mueller Industries Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, March 14th will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.26%. The ex-dividend date is Friday, March 14th. This is an increase from Mueller Industries’s previous quarterly dividend of $0.20. Mueller Industries’s dividend payout ratio is 18.83%.

Insider Activity

In related news, Director Scott Jay Goldman sold 10,000 shares of the business’s stock in a transaction dated Thursday, February 13th. The stock was sold at an average price of $79.81, for a total value of $798,100.00. Following the sale, the director now directly owns 56,098 shares in the company, valued at approximately $4,477,181.38. The trade was a 15.13 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 2.80% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Northcoast Research upgraded Mueller Industries from a “neutral” rating to a “buy” rating and set a $105.00 price target for the company in a research note on Wednesday, December 11th.

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.