Connor Clark & Lunn Investment Management Ltd. Buys Shares of 25,937 Mueller Industries, Inc. (NYSE:MLI)

Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of Mueller Industries, Inc. (NYSE:MLI) during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 25,937 shares of the industrial products company’s stock, valued at approximately $1,922,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. International Assets Investment Management LLC acquired a new stake in Mueller Industries in the 2nd quarter worth approximately $26,000. Federated Hermes Inc. bought a new position in shares of Mueller Industries in the second quarter valued at approximately $28,000. Opal Wealth Advisors LLC acquired a new stake in shares of Mueller Industries in the second quarter worth $30,000. GAMMA Investing LLC boosted its holdings in shares of Mueller Industries by 36.0% during the 3rd quarter. GAMMA Investing LLC now owns 552 shares of the industrial products company’s stock worth $41,000 after buying an additional 146 shares during the period. Finally, Larson Financial Group LLC grew its stake in Mueller Industries by 61.7% in the 2nd quarter. Larson Financial Group LLC now owns 967 shares of the industrial products company’s stock valued at $55,000 after buying an additional 369 shares during the last quarter. Institutional investors own 94.50% of the company’s stock.

Insider Buying and Selling at Mueller Industries

In related news, Director John B. Hansen sold 1,000 shares of the company’s stock in a transaction on Wednesday, October 30th. The stock was sold at an average price of $83.09, for a total value of $83,090.00. Following the completion of the transaction, the director now directly owns 94,914 shares in the company, valued at approximately $7,886,404.26. This represents a 1.04 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Charles P. Herzog, Jr. sold 15,000 shares of Mueller Industries stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $92.04, for a total transaction of $1,380,600.00. Following the sale, the director now owns 17,733 shares in the company, valued at $1,632,145.32. This represents a 45.83 % decrease in their position. The disclosure for this sale can be found here. Insiders own 2.80% of the company’s stock.

Mueller Industries Price Performance

Mueller Industries stock opened at $82.08 on Tuesday. The firm has a market cap of $9.34 billion, a price-to-earnings ratio of 15.94 and a beta of 1.01. The firm has a fifty day moving average price of $79.82 and a two-hundred day moving average price of $68.59. Mueller Industries, Inc. has a fifty-two week low of $40.52 and a fifty-two week high of $96.81.

Mueller Industries (NYSE:MLI) last announced its earnings results on Tuesday, October 22nd. The industrial products company reported $1.48 earnings per share for the quarter, beating the consensus estimate of $1.32 by $0.16. The firm had revenue of $997.80 million during the quarter, compared to the consensus estimate of $936.00 million. Mueller Industries had a return on equity of 23.25% and a net margin of 16.39%. The business’s revenue was up 21.7% on a year-over-year basis.

Mueller Industries Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Friday, December 6th will be paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 0.97%. The ex-dividend date is Friday, December 6th. Mueller Industries’s payout ratio is currently 15.53%.

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.