Wealth Enhancement Advisory Services LLC Has $454,000 Stock Position in Mueller Industries, Inc. $MLI

Wealth Enhancement Advisory Services LLC grew its position in Mueller Industries, Inc. (NYSE:MLI) by 9.9% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 5,494 shares of the industrial products company’s stock after purchasing an additional 495 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in Mueller Industries were worth $454,000 as of its most recent filing with the SEC.

Other large investors have also added to or reduced their stakes in the company. Baker Ellis Asset Management LLC lifted its stake in Mueller Industries by 10.1% in the second quarter. Baker Ellis Asset Management LLC now owns 47,190 shares of the industrial products company’s stock valued at $3,750,000 after buying an additional 4,325 shares during the period. Gallacher Capital Management LLC bought a new stake in shares of Mueller Industries in the 2nd quarter valued at $428,000. Rowlandmiller & PARTNERS.ADV lifted its position in shares of Mueller Industries by 3.4% during the 2nd quarter. Rowlandmiller & PARTNERS.ADV now owns 5,560 shares of the industrial products company’s stock valued at $442,000 after acquiring an additional 185 shares during the period. Strs Ohio bought a new position in Mueller Industries during the first quarter worth $1,980,000. Finally, Addison Capital Co grew its holdings in Mueller Industries by 2.7% in the first quarter. Addison Capital Co now owns 52,691 shares of the industrial products company’s stock worth $4,012,000 after purchasing an additional 1,366 shares during the period. Institutional investors and hedge funds own 94.50% of the company’s stock.

Insider Activity

In other Mueller Industries news, Director John B. Hansen sold 1,000 shares of the business’s stock in a transaction on Tuesday, August 12th. The stock was sold at an average price of $91.97, for a total value of $91,970.00. Following the sale, the director directly owned 92,664 shares in the company, valued at $8,522,308.08. The trade was a 1.07% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 2.70% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reiterated a “buy (b)” rating on shares of Mueller Industries in a report on Saturday, September 27th. Two investment analysts have rated the stock with a Buy rating, According to MarketBeat.com, Mueller Industries presently has a consensus rating of “Buy” and a consensus price target of $105.00.

Mueller Industries Stock Performance

Shares of MLI stock opened at $99.78 on Tuesday. The firm has a market cap of $11.05 billion, a price-to-earnings ratio of 15.84 and a beta of 1.02. Mueller Industries, Inc. has a 52 week low of $66.84 and a 52 week high of $102.75. The firm’s 50-day simple moving average is $95.08 and its two-hundred day simple moving average is $83.68.

Mueller Industries (NYSE:MLI) last released its earnings results on Tuesday, July 22nd. The industrial products company reported $1.96 earnings per share for the quarter, beating analysts’ consensus estimates of $1.62 by $0.34. The firm had revenue of $1.14 billion during 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%. Mueller Industries’s quarterly revenue was up 14.1% compared to the same quarter last year.

Mueller Industries Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, September 19th. Shareholders of record on Friday, September 5th were given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date of this dividend was Friday, September 5th. Mueller Industries’s dividend payout ratio (DPR) is currently 15.87%.

Mueller Industries 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.