B. Riley Wealth Advisors Inc. Acquires Shares of 12,378 Mueller Industries, Inc. $MLI

B. Riley Wealth Advisors Inc. bought a new position in shares of Mueller Industries, Inc. (NYSE:MLI) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 12,378 shares of the industrial products company’s stock, valued at approximately $984,000.

A number of other large investors have also recently made changes to their positions in MLI. Allspring Global Investments Holdings LLC increased its position in Mueller Industries by 1.9% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 2,252,838 shares of the industrial products company’s stock valued at $184,890,000 after purchasing an additional 42,599 shares during the period. LSV Asset Management increased its holdings in Mueller Industries by 0.9% during the second quarter. LSV Asset Management now owns 1,933,418 shares of the industrial products company’s stock valued at $153,649,000 after buying an additional 16,757 shares during the period. Norges Bank bought a new position in Mueller Industries in the second quarter worth approximately $127,287,000. Caisse DE Depot ET Placement DU Quebec lifted its holdings in Mueller Industries by 15.7% during the first quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,224,842 shares of the industrial products company’s stock worth $93,259,000 after buying an additional 166,012 shares during the period. Finally, Systematic Financial Management LP boosted its position in Mueller Industries by 1.0% during the 1st quarter. Systematic Financial Management LP now owns 957,113 shares of the industrial products company’s stock valued at $72,875,000 after acquiring an additional 9,463 shares in the last quarter. 94.50% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Mueller Industries

In other Mueller Industries news, Director John B. Hansen sold 1,000 shares of the company’s stock in a transaction that occurred on Thursday, October 23rd. The stock was sold at an average price of $105.71, for a total value of $105,710.00. Following the sale, the director owned 91,664 shares in the company, valued at approximately $9,689,801.44. This represents a 1.08% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Scott Jay Goldman sold 4,234 shares of the business’s stock in a transaction dated Tuesday, November 25th. The stock was sold at an average price of $108.64, for a total transaction of $459,981.76. Following the sale, the director directly owned 41,745 shares of the company’s stock, valued at $4,535,176.80. This represents a 9.21% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 355,234 shares of company stock worth $36,944,652. 2.70% of the stock is owned by corporate insiders.

Mueller Industries Stock Up 0.8%

Mueller Industries stock opened at $114.73 on Tuesday. The stock has a 50-day moving average price of $106.37 and a 200 day moving average price of $94.80. The company has a market capitalization of $12.74 billion, a price-to-earnings ratio of 17.12 and a beta of 1.04. Mueller Industries, Inc. has a 52 week low of $66.84 and a 52 week high of $115.28.

Mueller Industries (NYSE:MLI) last posted its quarterly earnings results on Tuesday, October 21st. The industrial products company reported $1.88 EPS for the quarter, missing the consensus estimate of $1.99 by ($0.11). The business had revenue of $1.08 billion during the quarter, compared to analysts’ expectations of $942.00 million. Mueller Industries had a net margin of 18.10% and a return on equity of 25.02%. Mueller Industries’s revenue for the quarter was up 8.0% compared to the same quarter last year. During the same period in the previous year, the company posted $1.48 earnings per share.

Mueller Industries Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 19th. Investors of record on Friday, December 5th will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.9%. The ex-dividend date of this dividend is Friday, December 5th. Mueller Industries’s dividend payout ratio (DPR) is 14.93%.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings restated a “buy (b)” rating on shares of Mueller Industries in a research note on Wednesday, October 8th. One equities research analyst has rated the stock with a Buy rating, According to MarketBeat, Mueller Industries currently has a consensus rating of “Buy”.

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.