B. Riley Wealth Advisors Inc. Has $758,000 Stock Position in Mueller Industries, Inc. (NYSE:MLI)

B. Riley Wealth Advisors Inc. lowered its position in shares of Mueller Industries, Inc. (NYSE:MLI) by 4.5% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 10,329 shares of the industrial products company’s stock after selling 488 shares during the quarter. B. Riley Wealth Advisors Inc.’s holdings in Mueller Industries were worth $758,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the company. Franklin Resources Inc. raised its holdings in Mueller Industries by 6.7% during the 3rd quarter. Franklin Resources Inc. now owns 69,102 shares of the industrial products company’s stock worth $5,073,000 after purchasing an additional 4,360 shares during the last quarter. World Investment Advisors LLC bought a new stake in shares of Mueller Industries during the third quarter worth approximately $2,166,000. Sanctuary Advisors LLC lifted its holdings in Mueller Industries by 27.9% in the third quarter. Sanctuary Advisors LLC now owns 13,373 shares of the industrial products company’s stock valued at $991,000 after buying an additional 2,918 shares during the period. Westside Investment Management Inc. bought a new position in Mueller Industries in the third quarter valued at approximately $41,000. Finally, Virtu Financial LLC acquired a new stake in Mueller Industries during the 3rd quarter worth $278,000. Institutional investors and hedge funds own 94.50% of the company’s stock.

Mueller Industries Trading Down 4.6 %

Shares of MLI opened at $78.71 on Thursday. The stock has a market cap of $8.95 billion, a P/E ratio of 15.28 and a beta of 0.99. Mueller Industries, Inc. has a 1 year low of $44.39 and a 1 year high of $96.81. The stock’s 50-day moving average price is $82.77 and its two-hundred day moving average price is $71.18.

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

Mueller Industries Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Friday, December 6th will be given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.02%. The ex-dividend date is Friday, December 6th. Mueller Industries’s dividend payout ratio is currently 15.53%.

Insider Buying and Selling

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

Analyst Ratings Changes

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

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.