National Bank of Canada FI Sells 12,321 Shares of Mueller Industries, Inc. (NYSE:MLI)

National Bank of Canada FI lowered its position in Mueller Industries, Inc. (NYSE:MLI) by 9.8% in the 4th quarter, HoldingsChannel reports. The fund owned 113,709 shares of the industrial products company’s stock after selling 12,321 shares during the period. National Bank of Canada FI’s holdings in Mueller Industries were worth $9,024,000 as of its most recent filing with the SEC.

Several other institutional investors have also added to or reduced their stakes in MLI. New Age Alpha Advisors LLC bought a new stake in shares of Mueller Industries in the fourth quarter valued at approximately $32,000. Westside Investment Management Inc. purchased a new stake in shares of Mueller Industries during the third quarter worth $41,000. SBI Securities Co. Ltd. purchased a new position in shares of Mueller Industries in the fourth quarter valued at $47,000. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of Mueller Industries during the 4th quarter valued at $53,000. Finally, City State Bank bought a new position in Mueller Industries in the 4th quarter worth about $58,000. 94.50% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

Mueller Industries Price Performance

Shares of NYSE:MLI opened at $70.67 on Friday. The firm has a fifty day moving average price of $79.31 and a two-hundred 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, Inc. has a one year low of $50.85 and a one year high of $96.81.

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

Mueller Industries Increases Dividend

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

Insider Buying and Selling at Mueller Industries

In other news, Director Scott Jay Goldman sold 10,000 shares of the firm’s stock in a transaction on Thursday, February 13th. The shares were sold at an average price of $79.81, for a total transaction of $798,100.00. Following the sale, the director now owns 56,098 shares in the company, valued at approximately $4,477,181.38. This trade represents a 15.13 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 2.80% of the stock is currently owned by company insiders.

Mueller Industries 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.