Fiera Capital Corp Has $36.45 Million Position in Mueller Industries, Inc. $MLI

Fiera Capital Corp cut its holdings in Mueller Industries, Inc. (NYSE:MLI) by 1.4% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 458,599 shares of the industrial products company’s stock after selling 6,740 shares during the quarter. Fiera Capital Corp owned about 0.41% of Mueller Industries worth $36,445,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Nuveen LLC bought a new stake in Mueller Industries in the first quarter worth $54,072,000. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in shares of Mueller Industries during the 2nd quarter valued at about $54,751,000. AQR Capital Management LLC lifted its holdings in Mueller Industries by 329.0% in the 1st quarter. AQR Capital Management LLC now owns 588,428 shares of the industrial products company’s stock worth $43,926,000 after purchasing an additional 451,261 shares during the last quarter. Epoch Investment Partners Inc. boosted its position in Mueller Industries by 222.8% during the first quarter. Epoch Investment Partners Inc. now owns 597,704 shares of the industrial products company’s stock worth $45,509,000 after purchasing an additional 412,564 shares during the period. Finally, Los Angeles Capital Management LLC boosted its position in Mueller Industries by 408.7% during the second quarter. Los Angeles Capital Management LLC now owns 352,717 shares of the industrial products company’s stock worth $28,030,000 after purchasing an additional 283,376 shares during the period. Institutional investors and hedge funds own 94.50% of the company’s stock.

Mueller Industries Stock Performance

NYSE MLI opened at $107.19 on Friday. Mueller Industries, Inc. has a twelve month low of $66.84 and a twelve month high of $109.90. The stock has a market cap of $11.90 billion, a PE ratio of 16.00 and a beta of 1.04. The firm has a 50-day simple moving average of $101.74 and a 200 day simple moving average of $89.39.

Mueller Industries (NYSE:MLI) last posted its quarterly earnings results on Tuesday, October 21st. The industrial products company reported $1.88 EPS for the quarter, missing the consensus estimate of $1.99 by ($0.11). Mueller Industries had a net margin of 18.10% and a return on equity of 25.02%. The firm had revenue of $1.08 billion during the quarter, compared to analyst estimates of $942.00 million. During the same period last year, the company earned $1.48 EPS. The company’s revenue was up 8.0% on a year-over-year basis.

Mueller Industries Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 19th. Stockholders of record on Friday, December 5th will be paid a $0.25 dividend. The ex-dividend date is Friday, December 5th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.9%. Mueller Industries’s dividend payout ratio is currently 14.93%.

Insider Transactions at Mueller Industries

In other Mueller Industries news, Director John B. Hansen sold 1,000 shares of Mueller Industries stock in a transaction that occurred on Thursday, October 23rd. The stock was sold at an average price of $105.71, for a total transaction of $105,710.00. Following the sale, the director directly owned 91,664 shares of the company’s stock, valued at approximately $9,689,801.44. The trade was a 1.08% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Gregory L. Christopher sold 158,000 shares of the stock in a transaction that occurred on Thursday, October 23rd. The stock was sold at an average price of $104.32, for a total value of $16,482,560.00. Following the completion of the transaction, the chief executive officer directly owned 1,119,241 shares of the company’s stock, valued at approximately $116,759,221.12. The trade was a 12.37% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 351,000 shares of company stock valued at $36,484,670 over the last ninety days. 2.70% of the stock is owned by insiders.

Analyst Ratings Changes

Separately, Weiss Ratings restated a “buy (b)” rating on shares of Mueller Industries in a research note on Wednesday, October 8th. Two equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, Mueller Industries has a consensus rating of “Buy” and an average price target of $105.00.

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.