Natixis Advisors LLC Purchases 82,415 Shares of Mueller Industries, Inc. (NYSE:MLI)

Natixis Advisors LLC raised its position in shares of Mueller Industries, Inc. (NYSE:MLI) by 398.6% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 103,089 shares of the industrial products company’s stock after acquiring an additional 82,415 shares during the period. Natixis Advisors LLC owned approximately 0.09% of Mueller Industries worth $7,849,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of MLI. Schroder Investment Management Group raised its position in shares of Mueller Industries by 10.2% during the fourth quarter. Schroder Investment Management Group now owns 7,903 shares of the industrial products company’s stock valued at $630,000 after buying an additional 730 shares during the last quarter. Alliancebernstein L.P. raised its position in shares of Mueller Industries by 47.7% during the fourth quarter. Alliancebernstein L.P. now owns 296,168 shares of the industrial products company’s stock valued at $23,504,000 after buying an additional 95,664 shares during the last quarter. Franklin Resources Inc. raised its position in shares of Mueller Industries by 12.0% during the fourth quarter. Franklin Resources Inc. now owns 77,389 shares of the industrial products company’s stock valued at $6,142,000 after buying an additional 8,287 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Mueller Industries by 4.5% during the fourth quarter. Geode Capital Management LLC now owns 2,705,588 shares of the industrial products company’s stock valued at $214,763,000 after buying an additional 117,327 shares during the last quarter. Finally, Trexquant Investment LP acquired a new position in shares of Mueller Industries during the fourth quarter valued at about $628,000. 94.50% of the stock is currently owned by institutional investors.

Mueller Industries Stock Performance

Shares of MLI opened at $85.05 on Tuesday. The firm has a market capitalization of $9.42 billion, a P/E ratio of 13.50 and a beta of 1.02. Mueller Industries, Inc. has a 52 week low of $62.74 and a 52 week high of $96.81. The company has a 50-day simple moving average of $81.04 and a 200-day simple moving average of $78.64.

Mueller Industries (NYSE:MLI) last issued its earnings results on Tuesday, July 22nd. The industrial products company reported $1.96 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.62 by $0.34. Mueller Industries had a return on equity of 24.47% and a net margin of 17.48%. The business had revenue of $1.14 billion during the quarter, compared to analysts’ expectations of $1.12 billion. The firm’s revenue was up 14.1% on a year-over-year basis.

Mueller Industries Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 19th. Stockholders of record on Friday, September 5th will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Friday, September 5th. This represents a $1.00 annualized dividend and a dividend yield of 1.2%. Mueller Industries’s dividend payout ratio (DPR) is presently 15.87%.

Insider Buying and Selling at Mueller Industries

In other news, Director John B. Hansen sold 3,130 shares of the firm’s stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $78.07, for a total transaction of $244,359.10. Following the completion of the sale, the director owned 93,914 shares of the company’s stock, valued at approximately $7,331,865.98. This trade represents a 3.23% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 2.70% of the company’s stock.

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.