National Bank of Canada FI Has $9.02 Million Stock Holdings in Mueller Industries, Inc. (NYSE:MLI)

National Bank of Canada FI decreased its holdings in shares of Mueller Industries, Inc. (NYSE:MLI) by 9.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 113,709 shares of the industrial products company’s stock after selling 12,321 shares during the quarter. National Bank of Canada FI owned 0.10% of Mueller Industries worth $9,024,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. Cerity Partners LLC increased its position in Mueller Industries by 125.1% during the 3rd quarter. Cerity Partners LLC now owns 8,216 shares of the industrial products company’s stock worth $609,000 after purchasing an additional 4,566 shares in the last quarter. Captrust Financial Advisors acquired a new stake in Mueller Industries in the third quarter valued at $215,000. Benjamin Edwards Inc. acquired a new stake in shares of Mueller Industries in the third quarter valued at about $278,000. Janus Henderson Group PLC raised its holdings in Mueller Industries by 11.9% during the 3rd quarter. Janus Henderson Group PLC now owns 145,103 shares of the industrial products company’s stock worth $10,753,000 after purchasing an additional 15,413 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. bought a new position in Mueller Industries during the third quarter worth $5,459,000. Institutional investors own 94.50% of the company’s stock.

Analysts Set New Price Targets

Separately, Northcoast Research upgraded Mueller Industries from a “neutral” rating to a “buy” rating and set a $105.00 target price for the company in a report on Wednesday, December 11th.

Mueller Industries Stock Down 4.6 %

NYSE MLI opened at $70.67 on Friday. Mueller Industries, Inc. has a 52 week low of $50.85 and a 52 week high of $96.81. The business has a 50 day moving average price of $79.31 and a 200-day moving average price of $79.93. The company has a market cap of $8.00 billion, a price-to-earnings ratio of 13.31 and a beta of 0.99.

Mueller Industries (NYSE:MLI) last released its quarterly earnings data on Tuesday, February 4th. The industrial products company reported $1.21 earnings per share for the quarter, topping the consensus estimate of $1.12 by $0.09. Mueller Industries had a net margin of 16.05% and a return on equity of 22.97%.

Mueller Industries Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Friday, March 14th were paid a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, March 14th. This represents a $1.00 dividend on an annualized basis and a yield of 1.42%. This is an increase from Mueller Industries’s previous quarterly dividend of $0.20. Mueller Industries’s payout ratio is 18.83%.

Insider Buying and Selling

In other Mueller Industries news, Director Scott Jay Goldman sold 10,000 shares of the company’s stock in a transaction dated Thursday, February 13th. The shares were sold at an average price of $79.81, for a total value of $798,100.00. Following the completion of the sale, the director now directly owns 56,098 shares of the company’s stock, valued at approximately $4,477,181.38. This represents a 15.13 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 2.80% of the stock is currently owned by corporate insiders.

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.