National Bank of Canada FI decreased its position in shares of Mueller Industries, Inc. (NYSE:MLI – Get Rating) by 2.0% during the 1st quarter, Holdings Channel.com reports. The firm owned 33,932 shares of the industrial products company’s stock after selling 689 shares during the quarter. National Bank of Canada FI’s holdings in Mueller Industries were worth $1,834,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently added to or reduced their stakes in MLI. Pacer Advisors Inc. acquired a new stake in Mueller Industries in the first quarter worth approximately $10,305,000. Rockefeller Capital Management L.P. lifted its position in shares of Mueller Industries by 30.9% during the 4th quarter. Rockefeller Capital Management L.P. now owns 500,825 shares of the industrial products company’s stock valued at $29,727,000 after acquiring an additional 118,247 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Mueller Industries by 10.6% during the 4th quarter. Geode Capital Management LLC now owns 1,065,511 shares of the industrial products company’s stock valued at $63,248,000 after acquiring an additional 102,439 shares during the last quarter. First Trust Advisors LP lifted its position in shares of Mueller Industries by 12.3% during the 4th quarter. First Trust Advisors LP now owns 844,666 shares of the industrial products company’s stock valued at $50,139,000 after acquiring an additional 92,224 shares during the last quarter. Finally, American Century Companies Inc. lifted its position in shares of Mueller Industries by 47.4% during the 4th quarter. American Century Companies Inc. now owns 237,045 shares of the industrial products company’s stock valued at $14,071,000 after acquiring an additional 76,193 shares during the last quarter. 88.66% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
A number of equities research analysts have recently commented on the company. StockNews.com downgraded Mueller Industries from a “strong-buy” rating to a “buy” rating in a research report on Friday, July 15th. Northcoast Research assumed coverage on Mueller Industries in a research report on Monday, July 18th. They set a “buy” rating for the company.
Mueller Industries Stock Down 0.3 %
Mueller Industries (NYSE:MLI – Get Rating) last announced its earnings results on Tuesday, July 19th. The industrial products company reported $3.65 earnings per share (EPS) for the quarter. Mueller Industries had a net margin of 16.14% and a return on equity of 46.35%. The company had revenue of $1.15 billion for the quarter.
Mueller Industries Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Friday, September 16th. Shareholders of record on Friday, September 2nd will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 1.50%. The ex-dividend date of this dividend is Thursday, September 8th. Mueller Industries’s dividend payout ratio (DPR) is currently 8.58%.
Insider Buying and Selling at Mueller Industries
In related news, Director John B. Hansen sold 1,000 shares of the stock in a transaction on Tuesday, July 26th. The stock was sold at an average price of $64.27, for a total transaction of $64,270.00. Following the completion of the sale, the director now directly owns 59,885 shares in the company, valued at $3,848,808.95. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Company insiders own 2.90% of the company’s stock.
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; PEX plumbing and radiant systems; and plumbing-related fittings and plastic injection tooling.
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