Farther Finance Advisors LLC Lowers Stock Holdings in Mueller Industries, Inc. (NYSE:MLI)

Farther Finance Advisors LLC lessened its stake in Mueller Industries, Inc. (NYSE:MLI) by 12.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 6,873 shares of the industrial products company’s stock after selling 990 shares during the quarter. Farther Finance Advisors LLC’s holdings in Mueller Industries were worth $533,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. New Age Alpha Advisors LLC acquired a new stake in Mueller Industries during the fourth quarter worth $32,000. Quarry LP acquired a new stake in Mueller Industries in the fourth quarter valued at $45,000. SBI Securities Co. Ltd. acquired a new stake in Mueller Industries in the fourth quarter valued at $47,000. Point72 Hong Kong Ltd acquired a new stake in shares of Mueller Industries during the fourth quarter worth about $53,000. Finally, Jones Financial Companies Lllp increased its position in shares of Mueller Industries by 204.8% during the fourth quarter. Jones Financial Companies Lllp now owns 890 shares of the industrial products company’s stock worth $71,000 after purchasing an additional 598 shares in the last quarter. Institutional investors and hedge funds own 94.50% of the company’s stock.

Mueller Industries Stock Performance

MLI opened at $74.20 on Monday. The business’s 50-day simple moving average is $75.33 and its 200-day simple moving average is $78.12. Mueller Industries, Inc. has a one year low of $54.01 and a one year high of $96.81. The stock has a market capitalization of $8.21 billion, a P/E ratio of 13.97 and a beta of 1.03.

Mueller Industries (NYSE:MLI) last posted its earnings results on Tuesday, April 22nd. The industrial products company reported $1.39 EPS for the quarter, topping analysts’ consensus estimates of $1.31 by $0.08. Mueller Industries had a return on equity of 22.97% and a net margin of 16.05%. The business had revenue of $1 billion for the quarter, compared to analysts’ expectations of $1 billion.

Mueller Industries Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 20th. Investors of record on Friday, June 6th will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.35%. The ex-dividend date of this dividend is Friday, June 6th. Mueller Industries’s dividend payout ratio (DPR) is presently 18.21%.

Insider Activity at Mueller Industries

In other news, Director Scott Jay Goldman sold 16,483 shares of the company’s stock in a transaction on Tuesday, April 29th. The stock was sold at an average price of $73.46, for a total transaction of $1,210,841.18. Following the completion of the sale, the director now directly owns 39,615 shares in the company, valued at $2,910,117.90. This represents a 29.38% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Terry Hermanson sold 10,000 shares of the stock in a transaction on Tuesday, May 6th. The shares were sold at an average price of $74.34, for a total value of $743,400.00. Following the completion of the sale, the director now owns 100,082 shares of the company’s stock, valued at approximately $7,440,095.88. This represents a 9.08% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 29,613 shares of company stock worth $2,198,600 in the last quarter. Company insiders own 2.70% of the company’s stock.

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.