Mueller Industries, Inc. $MLI Shares Sold by Freedom Day Solutions LLC

Freedom Day Solutions LLC decreased its holdings in Mueller Industries, Inc. (NYSE:MLI) by 3.4% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 35,100 shares of the industrial products company’s stock after selling 1,235 shares during the period. Freedom Day Solutions LLC’s holdings in Mueller Industries were worth $2,789,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also modified their holdings of the company. Golden State Wealth Management LLC grew its stake in shares of Mueller Industries by 103.1% in the first quarter. Golden State Wealth Management LLC now owns 331 shares of the industrial products company’s stock worth $25,000 after acquiring an additional 168 shares in the last quarter. Brooklyn Investment Group grew its stake in shares of Mueller Industries by 267.3% in the first quarter. Brooklyn Investment Group now owns 382 shares of the industrial products company’s stock worth $29,000 after acquiring an additional 278 shares in the last quarter. Rise Advisors LLC acquired a new position in shares of Mueller Industries in the first quarter worth $30,000. Wayfinding Financial LLC acquired a new position in shares of Mueller Industries in the first quarter worth $34,000. Finally, Opal Wealth Advisors LLC acquired a new position in shares of Mueller Industries during the first quarter worth $40,000. Institutional investors and hedge funds own 94.50% of the company’s stock.

Insider Activity at Mueller Industries

In other news, Director John B. Hansen sold 1,000 shares of the company’s stock in a transaction dated Tuesday, August 12th. The shares were sold at an average price of $91.97, for a total value of $91,970.00. Following the completion of the sale, the director directly owned 92,664 shares of the company’s stock, valued at approximately $8,522,308.08. This represents a 1.07% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 2.70% of the company’s stock.

Mueller Industries Price Performance

NYSE MLI opened at $98.01 on Friday. Mueller Industries, Inc. has a 1 year low of $66.84 and a 1 year high of $102.75. The company has a market capitalization of $10.85 billion, a PE ratio of 15.56 and a beta of 1.02. The company has a fifty day moving average of $95.81 and a two-hundred day moving average of $84.03.

Mueller Industries (NYSE:MLI) last released its quarterly earnings data on Tuesday, July 22nd. The industrial products company reported $1.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.62 by $0.34. Mueller Industries had a net margin of 17.48% and a return on equity of 24.47%. The company had revenue of $1.14 billion during the quarter, compared to the consensus estimate of $1.12 billion. The business’s quarterly revenue was up 14.1% compared to the same quarter last year.

Mueller Industries Dividend Announcement

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

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reiterated a “buy (b)” rating on shares of Mueller Industries in a research note on Wednesday. Two research analysts have rated the stock with a Buy rating, According to data from MarketBeat, the company has a consensus rating of “Buy” and an average target price of $105.00.

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.