Wealth Enhancement Advisory Services LLC Has $3.20 Million Position in Mueller Industries, Inc. $MLI

Wealth Enhancement Advisory Services LLC grew its holdings in Mueller Industries, Inc. (NYSE:MLI) by 489.4% during the third quarter, Holdings Channel reports. The firm owned 32,384 shares of the industrial products company’s stock after acquiring an additional 26,890 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in Mueller Industries were worth $3,196,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. NewEdge Advisors LLC increased its holdings in Mueller Industries by 10.7% in the first quarter. NewEdge Advisors LLC now owns 14,722 shares of the industrial products company’s stock worth $1,121,000 after purchasing an additional 1,420 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in shares of Mueller Industries by 1.5% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 230,671 shares of the industrial products company’s stock worth $17,563,000 after buying an additional 3,316 shares during the period. Acadian Asset Management LLC acquired a new position in shares of Mueller Industries during the 1st quarter valued at $524,000. Public Employees Retirement System of Ohio boosted its stake in Mueller Industries by 1,345.1% during the second quarter. Public Employees Retirement System of Ohio now owns 36,157 shares of the industrial products company’s stock worth $2,873,000 after acquiring an additional 33,655 shares in the last quarter. Finally, Janney Montgomery Scott LLC grew its holdings in Mueller Industries by 21.3% in the second quarter. Janney Montgomery Scott LLC now owns 24,927 shares of the industrial products company’s stock worth $1,981,000 after purchasing an additional 4,370 shares during the period. Institutional investors own 94.50% of the company’s stock.

Analyst Ratings Changes

Separately, Weiss Ratings reissued a “buy (b)” rating on shares of Mueller Industries in a research report on Thursday, January 22nd. One analyst has rated the stock with a Buy rating, According to MarketBeat.com, Mueller Industries currently has a consensus rating of “Buy”.

Insider Buying and Selling at Mueller Industries

In other Mueller Industries news, Director Scott Jay Goldman sold 4,234 shares of the company’s stock in a transaction dated Tuesday, November 25th. The shares were sold at an average price of $108.64, for a total value of $459,981.76. Following the completion of the sale, the director directly owned 41,745 shares of the company’s stock, valued at approximately $4,535,176.80. This represents a 9.21% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 2.70% of the stock is owned by insiders.

Mueller Industries Price Performance

MLI opened at $134.48 on Thursday. Mueller Industries, Inc. has a fifty-two week low of $66.84 and a fifty-two week high of $135.66. The firm has a market capitalization of $14.93 billion, a PE ratio of 20.07 and a beta of 1.04. The company’s 50-day moving average is $118.66 and its 200 day moving average is $104.60.

Mueller Industries Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, December 19th. Stockholders of record on Friday, December 5th were paid a $0.25 dividend. The ex-dividend date was Friday, December 5th. This represents a $1.00 annualized dividend and a dividend yield of 0.7%. Mueller Industries’s dividend payout ratio is presently 14.93%.

About Mueller Industries

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.