Advisors Management Group Inc. ADV Has $2.41 Million Stock Position in Mueller Industries, Inc. (NYSE:MLI)

Advisors Management Group Inc. ADV boosted its stake in Mueller Industries, Inc. (NYSE:MLI) by 26.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 30,322 shares of the industrial products company’s stock after purchasing an additional 6,280 shares during the quarter. Advisors Management Group Inc. ADV’s holdings in Mueller Industries were worth $2,406,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Park Avenue Securities LLC raised its position in shares of Mueller Industries by 19.1% in the 4th quarter. Park Avenue Securities LLC now owns 4,071 shares of the industrial products company’s stock valued at $323,000 after buying an additional 652 shares in the last quarter. Assenagon Asset Management S.A. bought a new position in Mueller Industries in the fourth quarter valued at approximately $2,268,000. City State Bank bought a new position in Mueller Industries in the fourth quarter valued at approximately $58,000. Oliver Luxxe Assets LLC raised its position in Mueller Industries by 33.5% during the fourth quarter. Oliver Luxxe Assets LLC now owns 79,055 shares of the industrial products company’s stock valued at $6,274,000 after purchasing an additional 19,847 shares in the last quarter. Finally, Insight Wealth Strategies LLC lifted its stake in Mueller Industries by 1.9% during the fourth quarter. Insight Wealth Strategies LLC now owns 37,184 shares of the industrial products company’s stock worth $2,951,000 after purchasing an additional 685 shares during the last quarter. Institutional investors own 94.50% of the company’s stock.

Analyst Ratings Changes

Separately, Northcoast Research raised Mueller Industries from a “neutral” rating to a “buy” rating and set a $105.00 price target for the company in a report on Wednesday, December 11th.

Insiders Place Their Bets

In other news, Director Charles P. Herzog, Jr. sold 15,000 shares of Mueller Industries stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $92.04, for a total transaction of $1,380,600.00. Following the transaction, the director now owns 17,733 shares in the company, valued at approximately $1,632,145.32. The trade was a 45.83 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director John B. Hansen sold 1,000 shares of the business’s stock in a transaction on Wednesday, October 30th. The stock was sold at an average price of $83.09, for a total transaction of $83,090.00. Following the completion of the sale, the director now directly owns 94,914 shares in the company, valued at approximately $7,886,404.26. This represents a 1.04 % decrease in their position. The disclosure for this sale can be found here. Insiders own 2.80% of the company’s stock.

Mueller Industries Trading Up 0.7 %

MLI stock opened at $81.21 on Thursday. The stock has a market capitalization of $9.24 billion, a P/E ratio of 15.77 and a beta of 1.00. The firm has a 50-day moving average price of $83.33 and a 200-day moving average price of $74.50. Mueller Industries, Inc. has a 12 month low of $44.39 and a 12 month high of $96.81.

Mueller Industries (NYSE:MLI) last issued its quarterly earnings data on Tuesday, October 22nd. The industrial products company reported $1.48 EPS for the quarter, beating the consensus estimate of $1.32 by $0.16. The business had revenue of $997.80 million during the quarter, compared to the consensus estimate of $936.00 million. Mueller Industries had a net margin of 16.39% and a return on equity of 23.25%. The company’s revenue was up 21.7% on a year-over-year basis.

Mueller Industries Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 20th. Investors of record on Friday, December 6th were given a dividend of $0.20 per share. The ex-dividend date was Friday, December 6th. This represents a $0.80 dividend on an annualized basis and a yield of 0.99%. Mueller Industries’s dividend payout ratio is currently 15.53%.

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.