National Bank of Canada FI Grows Position in Mueller Industries, Inc. (NYSE:MLI)

National Bank of Canada FI lifted its stake in shares of Mueller Industries, Inc. (NYSE:MLI) by 79.4% during the fourth quarter, Holdings Channel reports. The fund owned 140,308 shares of the industrial products company’s stock after purchasing an additional 62,094 shares during the quarter. National Bank of Canada FI’s holdings in Mueller Industries were worth $6,534,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in MLI. Fifth Third Bancorp boosted its stake in shares of Mueller Industries by 124.3% during the 4th quarter. Fifth Third Bancorp now owns 527 shares of the industrial products company’s stock worth $25,000 after purchasing an additional 292 shares during the last quarter. Larson Financial Group LLC lifted its stake in shares of Mueller Industries by 100.0% during the fourth quarter. Larson Financial Group LLC now owns 598 shares of the industrial products company’s stock valued at $28,000 after buying an additional 299 shares during the period. Beaird Harris Wealth Management LLC purchased a new stake in Mueller Industries in the 3rd quarter worth approximately $30,000. Adirondack Trust Co. acquired a new position in Mueller Industries in the 3rd quarter valued at $45,000. Finally, Versant Capital Management Inc increased its stake in Mueller Industries by 100.0% in the fourth quarter. Versant Capital Management Inc now owns 974 shares of the industrial products company’s stock valued at $46,000 after purchasing an additional 487 shares during the last quarter. Institutional investors and hedge funds own 94.50% of the company’s stock.

Mueller Industries Trading Up 0.9 %

Shares of Mueller Industries stock opened at $58.86 on Friday. The stock has a market capitalization of $6.69 billion, a P/E ratio of 11.80 and a beta of 1.08. The business’s fifty day moving average price is $53.84 and its 200 day moving average price is $47.83. Mueller Industries, Inc. has a twelve month low of $34.96 and a twelve month high of $59.59.

Mueller Industries (NYSE:MLI) last released its quarterly earnings data on Tuesday, February 6th. The industrial products company reported $1.05 earnings per share for the quarter. Mueller Industries had a return on equity of 24.69% and a net margin of 17.22%. The business had revenue of $732.38 million for the quarter.

Mueller Industries Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 15th were given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 1.36%. This is a boost from Mueller Industries’s previous quarterly dividend of $0.15. The ex-dividend date was Thursday, March 14th. Mueller Industries’s payout ratio is 16.03%.

Wall Street Analyst Weigh In

Several research firms have commented on MLI. Northcoast Research restated a “neutral” rating on shares of Mueller Industries in a report on Friday, January 19th. StockNews.com downgraded shares of Mueller Industries from a “buy” rating to a “hold” rating in a report on Monday, January 22nd.

Insider Transactions at Mueller Industries

In related news, CFO Jeffrey Andrew Martin sold 52,436 shares of Mueller Industries stock in a transaction on Friday, April 26th. The shares were sold at an average price of $57.25, for a total transaction of $3,001,961.00. Following the transaction, the chief financial officer now owns 313,529 shares in the company, valued at approximately $17,949,535.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director John B. Hansen sold 4,000 shares of Mueller Industries stock in a transaction that occurred on Thursday, April 25th. The shares were sold at an average price of $57.29, for a total transaction of $229,160.00. Following the sale, the director now owns 104,214 shares in the company, valued at $5,970,420.06. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Jeffrey Andrew Martin sold 52,436 shares of the firm’s stock in a transaction on Friday, April 26th. The shares were sold at an average price of $57.25, for a total transaction of $3,001,961.00. Following the sale, the chief financial officer now directly owns 313,529 shares of the company’s stock, valued at $17,949,535.25. The disclosure for this sale can be found here. Company insiders own 2.80% of the company’s stock.

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.