Atria Wealth Solutions Inc. Acquires 3,465 Shares of Mueller Industries, Inc. (NYSE:MLI)

Atria Wealth Solutions Inc. increased its holdings in Mueller Industries, Inc. (NYSE:MLI) by 98.5% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 6,984 shares of the industrial products company’s stock after buying an additional 3,465 shares during the period. Atria Wealth Solutions Inc.’s holdings in Mueller Industries were worth $329,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of MLI. Fifth Third Bancorp grew its position in shares of Mueller Industries by 124.3% in the fourth quarter. Fifth Third Bancorp now owns 527 shares of the industrial products company’s stock valued at $25,000 after purchasing an additional 292 shares in the last quarter. Larson Financial Group LLC grew its holdings in Mueller Industries by 100.0% during the 4th quarter. Larson Financial Group LLC now owns 598 shares of the industrial products company’s stock valued at $28,000 after buying an additional 299 shares in the last quarter. Beaird Harris Wealth Management LLC bought a new stake in shares of Mueller Industries during the third quarter valued at about $30,000. Adirondack Trust Co. bought a new position in shares of Mueller Industries in the third quarter valued at approximately $45,000. Finally, Versant Capital Management Inc grew its stake in Mueller Industries by 100.0% during the fourth quarter. Versant Capital Management Inc now owns 974 shares of the industrial products company’s stock valued at $46,000 after acquiring an additional 487 shares in the last quarter. 94.50% of the stock is currently owned by hedge funds and other institutional investors.

Mueller Industries Price Performance

Shares of MLI opened at $58.67 on Wednesday. Mueller Industries, Inc. has a 1-year low of $34.96 and a 1-year high of $59.59. The company has a market capitalization of $6.66 billion, a P/E ratio of 11.76 and a beta of 1.08. The firm’s 50 day simple moving average is $53.54 and its 200 day simple moving average is $47.68.

Mueller Industries (NYSE:MLI) last posted its quarterly earnings data on Tuesday, February 6th. The industrial products company reported $1.05 earnings per share for the quarter. Mueller Industries had a net margin of 17.22% and a return on equity of 24.69%. The firm had revenue of $732.38 million for the quarter.

Mueller Industries Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 15th were paid a dividend of $0.20 per share. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $0.80 annualized dividend and a yield of 1.36%. This is a positive change from Mueller Industries’s previous quarterly dividend of $0.15. Mueller Industries’s payout ratio is 16.03%.

Analysts Set New Price Targets

MLI has been the topic of several recent analyst reports. Northcoast Research reiterated a “neutral” rating on shares of Mueller Industries in a research note on Friday, January 19th. StockNews.com cut Mueller Industries from a “buy” rating to a “hold” rating in a research report on Monday, January 22nd.

Insider Transactions at Mueller Industries

In related news, Director John B. Hansen sold 5,000 shares of the business’s stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $49.33, for a total value of $246,650.00. Following the completion of the sale, the director now owns 18,000 shares in the company, valued at approximately $887,940. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, Director John B. Hansen sold 4,000 shares of the firm’s 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 directly owns 104,214 shares of the company’s stock, valued at $5,970,420.06. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director John B. Hansen sold 5,000 shares of the business’s stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $49.33, for a total value of $246,650.00. Following the completion of the sale, the director now directly owns 18,000 shares of the company’s stock, valued at approximately $887,940. The disclosure for this sale can be found here. In the last three months, insiders sold 108,716 shares of company stock worth $5,806,311. 2.80% 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.