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

National Bank of Canada FI reduced its holdings in shares of Mueller Industries, Inc. (NYSE:MLI) by 1.5% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 136,135 shares of the industrial products company’s stock after selling 2,114 shares during the quarter. National Bank of Canada FI owned approximately 0.12% of Mueller Industries worth $7,621,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. International Assets Investment Management LLC purchased a new stake in shares of Mueller Industries during the second quarter worth about $26,000. Opal Wealth Advisors LLC purchased a new stake in Mueller Industries in the second quarter valued at approximately $30,000. LifeSteps Financial Inc. purchased a new stake in Mueller Industries in the first quarter valued at approximately $43,000. CWM LLC grew its holdings in Mueller Industries by 36.9% in the first quarter. CWM LLC now owns 827 shares of the industrial products company’s stock valued at $45,000 after purchasing an additional 223 shares during the period. Finally, Nomura Asset Management Co. Ltd. lifted its position in Mueller Industries by 100.0% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 1,000 shares of the industrial products company’s stock valued at $47,000 after buying an additional 500 shares in the last quarter. 94.50% of the stock is currently owned by hedge funds and other institutional investors.

Mueller Industries Stock Up 1.5 %

Shares of MLI stock opened at $66.85 on Tuesday. The stock has a market cap of $7.58 billion, a price-to-earnings ratio of 13.40 and a beta of 1.03. Mueller Industries, Inc. has a fifty-two week low of $34.96 and a fifty-two week high of $72.83. The firm’s 50 day moving average price is $65.96 and its two-hundred day moving average price is $58.81.

Mueller Industries (NYSE:MLI) last announced its quarterly earnings results on Tuesday, July 23rd. The industrial products company reported $1.41 earnings per share for the quarter, beating analysts’ consensus estimates of $1.29 by $0.12. The firm had revenue of $997.75 million for the quarter. Mueller Industries had a net margin of 16.19% and a return on equity of 22.86%.

Mueller Industries Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 20th. Stockholders of record on Friday, September 6th will be given a dividend of $0.20 per share. The ex-dividend date of this dividend is Friday, September 6th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.20%. Mueller Industries’s payout ratio is currently 16.03%.

Insider Transactions at Mueller Industries

In other news, CEO Gregory L. Christopher sold 50,000 shares of the business’s stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $69.92, for a total transaction of $3,496,000.00. Following the transaction, the chief executive officer now directly owns 1,214,311 shares of the company’s stock, valued at $84,904,625.12. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In related news, CEO Gregory L. Christopher sold 50,000 shares of the company’s stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $69.92, for a total value of $3,496,000.00. Following the sale, the chief executive officer now directly owns 1,214,311 shares of the company’s stock, valued at $84,904,625.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Gregory L. Christopher sold 45,000 shares of the company’s stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $67.73, for a total transaction of $3,047,850.00. Following the completion of the sale, the chief executive officer now directly owns 1,264,311 shares in the company, valued at $85,631,784.03. The disclosure for this sale can be found here. Over the last three months, insiders have sold 103,000 shares of company stock valued at $7,081,770. Corporate 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.