Great West Life Assurance Co. Can Raises Stock Holdings in Mueller Industries, Inc. (NYSE:MLI)

Great West Life Assurance Co. Can lifted its holdings in shares of Mueller Industries, Inc. (NYSE:MLIGet Rating) by 13.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 64,879 shares of the industrial products company’s stock after purchasing an additional 7,611 shares during the quarter. Great West Life Assurance Co. Can’s holdings in Mueller Industries were worth $3,857,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of MLI. Pinebridge Investments L.P. boosted its stake in Mueller Industries by 182.5% in the second quarter. Pinebridge Investments L.P. now owns 565 shares of the industrial products company’s stock worth $30,000 after buying an additional 365 shares in the last quarter. Heritage Financial Services LLC purchased a new stake in Mueller Industries in the second quarter worth approximately $35,000. Wipfli Financial Advisors LLC purchased a new stake in Mueller Industries in the third quarter worth approximately $38,000. Point72 Hong Kong Ltd purchased a new stake in Mueller Industries in the second quarter worth approximately $40,000. Finally, Quadrant Capital Group LLC boosted its stake in Mueller Industries by 50.1% in the second quarter. Quadrant Capital Group LLC now owns 776 shares of the industrial products company’s stock worth $41,000 after buying an additional 259 shares in the last quarter. Hedge funds and other institutional investors own 89.64% of the company’s stock.

Mueller Industries Stock Performance

NYSE:MLI opened at $64.55 on Tuesday. The firm has a market cap of $3.66 billion, a PE ratio of 5.67 and a beta of 1.13. Mueller Industries, Inc. has a fifty-two week low of $49.42 and a fifty-two week high of $70.43. The business has a 50 day moving average price of $64.48 and a 200-day moving average price of $63.25.

Mueller Industries Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 16th. Stockholders of record on Friday, December 2nd were paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.55%. The ex-dividend date of this dividend was Thursday, December 1st. Mueller Industries’s dividend payout ratio (DPR) is presently 8.79%.

Analysts Set New Price Targets

Separately, StockNews.com began coverage on Mueller Industries in a research note on Wednesday, October 12th. They set a “buy” rating for the company.

Insider Activity

In related news, Director John B. Hansen sold 1,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 23rd. The stock was sold at an average price of $68.94, for a total transaction of $68,940.00. Following the completion of the transaction, the director now owns 55,885 shares in the company, valued at $3,852,711.90. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders own 2.90% of the company’s stock.

Mueller Industries Company Profile

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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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Institutional Ownership by Quarter for Mueller Industries (NYSE:MLI)

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