TD Private Client Wealth LLC Has $738,000 Holdings in Mueller Industries, Inc. (NYSE:MLI)

TD Private Client Wealth LLC raised its position in Mueller Industries, Inc. (NYSE:MLI) by 252.5% during the third quarter, according to its most recent filing with the SEC. The firm owned 9,965 shares of the industrial products company’s stock after purchasing an additional 7,138 shares during the period. TD Private Client Wealth LLC’s holdings in Mueller Industries were worth $738,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of MLI. International Assets Investment Management LLC acquired a new position in Mueller Industries in the second quarter valued at $26,000. Federated Hermes Inc. acquired a new position in shares of Mueller Industries in the 2nd quarter valued at about $28,000. GAMMA Investing LLC boosted its position in shares of Mueller Industries by 36.0% during the 3rd quarter. GAMMA Investing LLC now owns 552 shares of the industrial products company’s stock valued at $41,000 after purchasing an additional 146 shares in the last quarter. Larson Financial Group LLC grew its stake in Mueller Industries by 61.7% during the second quarter. Larson Financial Group LLC now owns 967 shares of the industrial products company’s stock worth $55,000 after purchasing an additional 369 shares during the period. Finally, Harbor Capital Advisors Inc. bought a new stake in Mueller Industries in the third quarter worth approximately $64,000. 94.50% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, Northcoast Research upgraded shares of 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.

Insider Activity

In other Mueller Industries news, Director Charles P. Herzog, Jr. sold 15,000 shares of Mueller Industries stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $92.04, for a total transaction of $1,380,600.00. Following the completion of 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 position. The transaction 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 stock in a transaction that occurred on Wednesday, October 30th. The stock was sold at an average price of $83.09, for a total value of $83,090.00. Following the completion of the sale, the director now directly owns 94,914 shares of the company’s stock, valued at approximately $7,886,404.26. This trade represents a 1.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 2.80% of the company’s stock.

Mueller Industries Stock Performance

MLI stock opened at $82.47 on Friday. The stock’s 50 day simple moving average is $82.18 and its 200 day simple moving average is $70.58. The company has a market cap of $9.38 billion, a P/E ratio of 16.01 and a beta of 0.99. Mueller Industries, Inc. has a fifty-two week low of $44.03 and a fifty-two week high of $96.81.

Mueller Industries (NYSE:MLI) last issued its earnings results on Tuesday, October 22nd. The industrial products company reported $1.48 earnings per share for the quarter, topping analysts’ consensus estimates of $1.32 by $0.16. Mueller Industries had a return on equity of 23.25% and a net margin of 16.39%. The company had revenue of $997.80 million for the quarter, compared to analyst estimates of $936.00 million. The firm’s revenue was up 21.7% compared to the same quarter last year.

Mueller Industries Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Friday, December 6th will be paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.97%. The ex-dividend date of this dividend is Friday, December 6th. Mueller Industries’s dividend payout ratio (DPR) is 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.