B. Riley Wealth Advisors Inc. Invests $984,000 in Mueller Industries, Inc. $MLI

B. Riley Wealth Advisors Inc. purchased a new stake in Mueller Industries, Inc. (NYSE:MLI) during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 12,378 shares of the industrial products company’s stock, valued at approximately $984,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Wedbush Securities Inc. increased its position in shares of Mueller Industries by 3.9% during the second quarter. Wedbush Securities Inc. now owns 3,545 shares of the industrial products company’s stock valued at $282,000 after acquiring an additional 134 shares during the last quarter. CW Advisors LLC boosted its position in shares of Mueller Industries by 4.0% during the 2nd quarter. CW Advisors LLC now owns 3,641 shares of the industrial products company’s stock worth $289,000 after purchasing an additional 140 shares during the period. Total Wealth Planning & Management Inc. increased its holdings in Mueller Industries by 2.5% in the 2nd quarter. Total Wealth Planning & Management Inc. now owns 5,948 shares of the industrial products company’s stock valued at $473,000 after purchasing an additional 144 shares during the last quarter. Contravisory Investment Management Inc. raised its position in Mueller Industries by 6.2% in the second quarter. Contravisory Investment Management Inc. now owns 2,611 shares of the industrial products company’s stock valued at $207,000 after purchasing an additional 152 shares during the period. Finally, Rowlandmiller & PARTNERS.ADV lifted its stake in Mueller Industries by 3.4% during the second quarter. Rowlandmiller & PARTNERS.ADV now owns 5,560 shares of the industrial products company’s stock worth $442,000 after purchasing an additional 185 shares in the last quarter. 94.50% of the stock is owned by institutional investors and hedge funds.

Mueller Industries Stock Performance

Shares of MLI stock opened at $114.73 on Tuesday. The firm has a market cap of $12.74 billion, a price-to-earnings ratio of 17.12 and a beta of 1.04. Mueller Industries, Inc. has a 52 week low of $66.84 and a 52 week high of $115.28. The firm’s 50-day simple moving average is $106.37 and its two-hundred day simple moving average is $94.80.

Mueller Industries (NYSE:MLI) last issued its quarterly earnings results on Tuesday, October 21st. The industrial products company reported $1.88 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.99 by ($0.11). Mueller Industries had a return on equity of 25.02% and a net margin of 18.10%.The company had revenue of $1.08 billion for the quarter, compared to analysts’ expectations of $942.00 million. During the same quarter in the previous year, the business earned $1.48 EPS. The company’s revenue for the quarter was up 8.0% on a year-over-year basis.

Mueller Industries Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 19th. Stockholders of record on Friday, December 5th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date is Friday, December 5th. Mueller Industries’s dividend payout ratio (DPR) is 14.93%.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Mueller Industries in a research report on Wednesday, October 8th. One equities research analyst has rated the stock with a Buy rating, According to MarketBeat, Mueller Industries has a consensus rating of “Buy”.

Insider Transactions at Mueller Industries

In related news, CEO Gregory L. Christopher sold 158,000 shares of the company’s stock in a transaction that occurred on Thursday, October 23rd. The shares were sold at an average price of $104.32, for a total value of $16,482,560.00. Following the transaction, the chief executive officer directly owned 1,119,241 shares in the company, valued at approximately $116,759,221.12. This represents a 12.37% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Scott Jay Goldman sold 4,234 shares of the firm’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 sale, the director owned 41,745 shares in the company, valued at $4,535,176.80. The trade was a 9.21% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 355,234 shares of company stock valued at $36,944,652. 2.70% of the stock is owned by corporate insiders.

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.