Farther Finance Advisors LLC Has $713,000 Stock Position in Mueller Industries, Inc. $MLI

Farther Finance Advisors LLC grew its stake in shares of Mueller Industries, Inc. (NYSE:MLI) by 30.6% during the 2nd quarter, Holdings Channel reports. The firm owned 8,975 shares of the industrial products company’s stock after buying an additional 2,102 shares during the period. Farther Finance Advisors LLC’s holdings in Mueller Industries were worth $713,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Golden State Wealth Management LLC increased its position in shares of Mueller Industries by 103.1% during the 1st quarter. Golden State Wealth Management LLC now owns 331 shares of the industrial products company’s stock worth $25,000 after purchasing an additional 168 shares during the last quarter. Brooklyn Investment Group increased its position in shares of Mueller Industries by 267.3% during the 1st quarter. Brooklyn Investment Group now owns 382 shares of the industrial products company’s stock worth $29,000 after purchasing an additional 278 shares during the last quarter. Rise Advisors LLC acquired a new position in shares of Mueller Industries during the 1st quarter worth approximately $30,000. Wayfinding Financial LLC acquired a new position in shares of Mueller Industries during the 1st quarter worth approximately $34,000. Finally, Opal Wealth Advisors LLC acquired a new position in shares of Mueller Industries during the 1st quarter worth approximately $40,000. Institutional investors and hedge funds own 94.50% of the company’s stock.

Mueller Industries Stock Up 0.4%

NYSE:MLI opened at $100.01 on Friday. The firm has a market capitalization of $11.07 billion, a price-to-earnings ratio of 15.87 and a beta of 1.05. Mueller Industries, Inc. has a twelve month low of $66.84 and a twelve month high of $102.75. The stock’s 50 day moving average price is $93.12 and its two-hundred day moving average price is $82.62.

Mueller Industries (NYSE:MLI) last posted its earnings results on Tuesday, July 22nd. The industrial products company reported $1.96 earnings per share for the quarter, topping analysts’ consensus estimates of $1.62 by $0.34. The business had revenue of $1.14 billion for the quarter, compared to analyst estimates of $1.12 billion. Mueller Industries had a return on equity of 24.47% and a net margin of 17.48%.Mueller Industries’s revenue was up 14.1% compared to the same quarter last year.

Mueller Industries Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 19th. Investors of record on Friday, September 5th were issued a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, September 5th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.0%. Mueller Industries’s payout ratio is presently 15.87%.

Insider Buying and Selling at Mueller Industries

In related news, Director John B. Hansen sold 1,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 12th. The stock was sold at an average price of $91.97, for a total transaction of $91,970.00. Following the transaction, the director directly owned 92,664 shares of the company’s stock, valued at approximately $8,522,308.08. The trade was a 1.07% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 2.70% of the company’s stock.

Mueller Industries 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.