TD Private Client Wealth LLC Has $218,000 Stock Holdings in Mueller Industries, Inc. (NYSE:MLI)

TD Private Client Wealth LLC trimmed its stake in shares of Mueller Industries, Inc. (NYSE:MLI) by 72.5% in the fourth quarter, Holdings Channel.com reports. The fund owned 2,745 shares of the industrial products company’s stock after selling 7,220 shares during the quarter. TD Private Client Wealth LLC’s holdings in Mueller Industries were worth $218,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Westside Investment Management Inc. bought a new stake in shares of Mueller Industries in the 3rd quarter valued at $41,000. SBI Securities Co. Ltd. bought a new stake in Mueller Industries during the fourth quarter valued at $47,000. Mirae Asset Global Investments Co. Ltd. acquired a new stake in Mueller Industries during the 4th quarter worth about $53,000. City State Bank bought a new position in shares of Mueller Industries in the 4th quarter worth about $58,000. Finally, GAMMA Investing LLC lifted its stake in shares of Mueller Industries by 46.7% in the 4th quarter. GAMMA Investing LLC now owns 810 shares of the industrial products company’s stock valued at $64,000 after purchasing an additional 258 shares during the period. 94.50% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling at Mueller Industries

In related news, Director Scott Jay Goldman sold 10,000 shares of Mueller Industries stock in a transaction on Thursday, February 13th. The shares were sold at an average price of $79.81, for a total value of $798,100.00. Following the completion of the sale, the director now owns 56,098 shares of the company’s stock, valued at approximately $4,477,181.38. This trade represents a 15.13 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 2.80% of the company’s stock.

Mueller Industries Stock Down 0.3 %

NYSE:MLI opened at $79.27 on Wednesday. Mueller Industries, Inc. has a twelve month low of $50.85 and a twelve month high of $96.81. The company has a fifty day moving average of $80.16 and a 200-day moving average of $79.58. The firm has a market capitalization of $8.98 billion, a P/E ratio of 14.93 and a beta of 0.99.

Mueller Industries (NYSE:MLI) last posted its quarterly earnings results on Tuesday, February 4th. The industrial products company reported $1.21 earnings per share for the quarter, beating the consensus estimate of $1.12 by $0.09. Mueller Industries had a net margin of 16.05% and a return on equity of 22.97%.

Mueller Industries Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, March 14th will be issued a $0.25 dividend. The ex-dividend date is Friday, March 14th. This represents a $1.00 annualized dividend and a yield of 1.26%. This is a positive change from Mueller Industries’s previous quarterly dividend of $0.20. Mueller Industries’s dividend payout ratio is presently 18.83%.

Mueller Industries Company Profile

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.