Sequoia Financial Advisors LLC Purchases 3,960 Shares of Mueller Industries, Inc. $MLI

Sequoia Financial Advisors LLC grew its position in Mueller Industries, Inc. (NYSE:MLI) by 42.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 13,217 shares of the industrial products company’s stock after acquiring an additional 3,960 shares during the period. Sequoia Financial Advisors LLC’s holdings in Mueller Industries were worth $1,517,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of MLI. JFS Wealth Advisors LLC grew its position in shares of Mueller Industries by 121.1% in the 3rd quarter. JFS Wealth Advisors LLC now owns 252 shares of the industrial products company’s stock valued at $25,000 after acquiring an additional 138 shares during the period. Activest Wealth Management bought a new position in shares of Mueller Industries in the 4th quarter valued at about $27,000. Cary Street Partners Investment Advisory LLC grew its position in shares of Mueller Industries by 228.7% in the 3rd quarter. Cary Street Partners Investment Advisory LLC now owns 309 shares of the industrial products company’s stock valued at $31,000 after acquiring an additional 215 shares during the period. Root Financial Partners LLC bought a new position in shares of Mueller Industries in the 3rd quarter valued at about $38,000. Finally, Northwestern Mutual Wealth Management Co. grew its position in shares of Mueller Industries by 108.8% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 501 shares of the industrial products company’s stock valued at $40,000 after acquiring an additional 261 shares during the period. Institutional investors own 94.50% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently commented on MLI shares. Wall Street Zen downgraded shares of Mueller Industries from a “strong-buy” rating to a “buy” rating in a report on Saturday. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Mueller Industries in a report on Tuesday, April 21st. One research analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy”.

Mueller Industries Stock Performance

Shares of MLI stock opened at $140.49 on Tuesday. The company has a market capitalization of $15.53 billion, a price-to-earnings ratio of 18.39 and a beta of 1.13. The company has a 50-day simple moving average of $120.26 and a 200 day simple moving average of $117.79. Mueller Industries, Inc. has a 52 week low of $72.16 and a 52 week high of $141.51.

Mueller Industries (NYSE:MLI) last announced its earnings results on Tuesday, April 21st. The industrial products company reported $2.16 EPS for the quarter, topping the consensus estimate of $1.49 by $0.67. Mueller Industries had a net margin of 19.37% and a return on equity of 25.97%. The business had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.10 billion. During the same quarter in the previous year, the firm posted $1.39 EPS. Mueller Industries’s revenue was up 19.3% compared to the same quarter last year.

Mueller Industries Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 19th. Shareholders of record on Friday, June 5th will be paid a $0.35 dividend. The ex-dividend date is Friday, June 5th. This represents a $1.40 annualized dividend and a yield of 1.0%. Mueller Industries’s payout ratio is 18.32%.

Insider Activity

In other Mueller Industries news, Director Scott Jay Goldman sold 4,430 shares of Mueller Industries stock in a transaction dated Friday, February 13th. The shares were sold at an average price of $118.97, for a total value of $527,037.10. Following the completion of the sale, the director owned 41,645 shares in the company, valued at $4,954,505.65. The trade was a 9.61% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Gregory L. Christopher sold 103,266 shares of Mueller Industries stock in a transaction dated Monday, April 27th. The stock was sold at an average price of $137.29, for a total transaction of $14,177,389.14. Following the completion of the sale, the chief executive officer owned 804,911 shares of the company’s stock, valued at $110,506,231.19. This trade represents a 11.37% decrease in their position. The SEC filing for this sale provides additional information. 2.30% of the stock is owned by insiders.

Mueller Industries Profile

Mueller Industries, Inc is a diversified manufacturer and marketer of copper, brass, aluminum and plastic products. Headquartered in Memphis, Tennessee, the company serves a wide range of markets including HVAC (heating, ventilation and air conditioning), refrigeration, plumbing, industrial gas, automotive and agricultural sectors. Its product portfolio encompasses copper and plastic tubing, brass fittings, valves and related components designed for fluid handling and temperature control applications.

The company operates through multiple business segments, including the Plumbing & Refrigeration segment, which supplies copper and plastic tubing, fittings and valves for residential and commercial construction markets; the Industrial Metals & Mining segment, which provides aluminum shapes and specialty brass products for industrial applications; and the Climate segment, which focuses on copper tubing and components for air conditioning and refrigeration systems.