Mueller Industries, Inc. (NYSE:MLI) Shares Acquired by Caisse DE Depot ET Placement DU Quebec

Caisse DE Depot ET Placement DU Quebec increased its holdings in shares of Mueller Industries, Inc. (NYSE:MLI) by 169.1% during the fourth quarter, HoldingsChannel.com reports. The fund owned 1,058,830 shares of the industrial products company’s stock after buying an additional 665,413 shares during the period. Caisse DE Depot ET Placement DU Quebec’s holdings in Mueller Industries were worth $84,029,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the business. New Age Alpha Advisors LLC acquired a new position in shares of Mueller Industries during the 4th quarter worth approximately $32,000. Westside Investment Management Inc. acquired a new position in Mueller Industries during the third quarter worth $41,000. Quarry LP acquired a new stake in shares of Mueller Industries in the 4th quarter worth $45,000. SBI Securities Co. Ltd. acquired a new position in shares of Mueller Industries during the 4th quarter valued at about $47,000. Finally, Mirae Asset Global Investments Co. Ltd. acquired a new stake in Mueller Industries during the fourth quarter worth about $53,000. Hedge funds and other institutional investors own 94.50% of the company’s stock.

Mueller Industries Price Performance

Shares of MLI stock opened at $73.54 on Friday. The company has a market capitalization of $8.14 billion, a PE ratio of 13.85 and a beta of 0.96. The firm’s 50-day moving average is $76.05 and its two-hundred day moving average is $79.82. Mueller Industries, Inc. has a 12 month low of $53.53 and a 12 month high of $96.81.

Mueller Industries (NYSE:MLI) last released its quarterly earnings results on Tuesday, April 22nd. The industrial products company reported $1.39 EPS for the quarter, beating the consensus estimate of $1.31 by $0.08. The firm had revenue of $1 billion for the quarter, compared to analyst estimates of $1 billion. Mueller Industries had a net margin of 16.05% and a return on equity of 22.97%.

Mueller Industries Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Friday, March 14th were issued a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, March 14th. This is a boost from Mueller Industries’s previous quarterly dividend of $0.20. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.36%. Mueller Industries’s dividend payout ratio is currently 18.21%.

Insider Buying and Selling

In other Mueller Industries news, Director Scott Jay Goldman sold 10,000 shares of the stock in a transaction dated Thursday, February 13th. The shares were sold at an average price of $79.81, for a total transaction of $798,100.00. Following the completion of the transaction, the director now owns 56,098 shares of the company’s stock, valued at $4,477,181.38. This trade represents a 15.13 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 2.70% of the company’s stock.

About Mueller Industries

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.