Millington Financial Advisors LLC Has $1.55 Million Stake in Mueller Industries, Inc. (NYSE:MLI)

Millington Financial Advisors LLC grew its holdings in shares of Mueller Industries, Inc. (NYSE:MLI) by 98.8% in the fourth quarter, HoldingsChannel.com reports. The fund owned 32,832 shares of the industrial products company’s stock after acquiring an additional 16,321 shares during the quarter. Mueller Industries accounts for 1.2% of Millington Financial Advisors LLC’s holdings, making the stock its 23rd biggest position. Millington Financial Advisors LLC’s holdings in Mueller Industries were worth $1,548,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently bought and sold shares of the company. Allspring Global Investments Holdings LLC boosted its position in shares of Mueller Industries by 90.9% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 5,039,933 shares of the industrial products company’s stock worth $237,633,000 after purchasing an additional 2,399,862 shares in the last quarter. Pacer Advisors Inc. lifted its position in shares of Mueller Industries by 194.4% during the 4th quarter. Pacer Advisors Inc. now owns 2,883,088 shares of the industrial products company’s stock worth $135,938,000 after buying an additional 1,903,745 shares in the last quarter. Gates Capital Management Inc. lifted its position in shares of Mueller Industries by 53.4% during the 3rd quarter. Gates Capital Management Inc. now owns 1,196,744 shares of the industrial products company’s stock worth $89,947,000 after buying an additional 416,700 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Mueller Industries by 98.9% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 643,872 shares of the industrial products company’s stock worth $30,359,000 after purchasing an additional 320,187 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale increased its stake in shares of Mueller Industries by 140.4% during the 4th quarter. DekaBank Deutsche Girozentrale now owns 303,303 shares of the industrial products company’s stock worth $14,140,000 after purchasing an additional 177,133 shares during the last quarter. 94.50% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Mueller Industries

In other Mueller Industries news, CFO Jeffrey Andrew Martin sold 47,280 shares of the business’s stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $49.25, for a total value of $2,328,540.00. Following the completion of the sale, the chief financial officer now directly owns 370,840 shares of the company’s stock, valued at approximately $18,263,870. The transaction was disclosed in a filing with the SEC, which is available through this link. In other news, Director John B. Hansen sold 5,000 shares of the company’s stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $49.33, for a total value of $246,650.00. Following the sale, the director now directly owns 18,000 shares of the company’s stock, valued at approximately $887,940. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Jeffrey Andrew Martin sold 47,280 shares of the stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $49.25, for a total transaction of $2,328,540.00. Following the completion of the sale, the chief financial officer now owns 370,840 shares of the company’s stock, valued at $18,263,870. The disclosure for this sale can be found here. Insiders own 2.80% of the company’s stock.

Analysts Set New Price Targets

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

Mueller Industries Stock Performance

Shares of NYSE MLI traded up $3.88 during midday trading on Tuesday, hitting $57.43. 1,276,337 shares of the company traded hands, compared to its average volume of 668,156. Mueller Industries, Inc. has a 12-month low of $34.08 and a 12-month high of $57.65. The stock has a 50-day moving average price of $51.95 and a 200 day moving average price of $46.70. The firm has a market cap of $6.52 billion, a P/E ratio of 10.80 and a beta of 1.08.

Mueller Industries (NYSE:MLI) last issued its earnings results on Tuesday, February 6th. The industrial products company reported $1.05 earnings per share (EPS) for the quarter. The company had revenue of $732.38 million for the quarter. Mueller Industries had a net margin of 17.63% and a return on equity of 27.59%.

Mueller Industries Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 15th were issued a $0.20 dividend. The ex-dividend date was Thursday, March 14th. This is an increase from Mueller Industries’s previous quarterly dividend of $0.15. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.39%. Mueller Industries’s payout ratio is 15.05%.

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.