Fiera Capital Corp Takes Position in Mueller Industries, Inc. (NYSE:MLI)

Fiera Capital Corp bought a new position in Mueller Industries, Inc. (NYSE:MLI - Free Report) in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 479,786 shares of the industrial products company's stock, valued at approximately $35,552,000. Fiera Capital Corp owned approximately 0.42% of Mueller Industries as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also added to or reduced their stakes in MLI. GAMMA Investing LLC increased its holdings in shares of Mueller Industries by 36.0% during the third quarter. GAMMA Investing LLC now owns 552 shares of the industrial products company's stock valued at $41,000 after acquiring an additional 146 shares in the last quarter. Miller Howard Investments Inc. NY increased its holdings in shares of Mueller Industries by 2.1% during the second quarter. Miller Howard Investments Inc. NY now owns 7,188 shares of the industrial products company's stock valued at $409,000 after acquiring an additional 151 shares in the last quarter. Kapitalo Investimentos Ltda increased its holdings in shares of Mueller Industries by 3.5% during the third quarter. Kapitalo Investimentos Ltda now owns 4,582 shares of the industrial products company's stock valued at $340,000 after acquiring an additional 156 shares in the last quarter. Summit Global Investments increased its holdings in shares of Mueller Industries by 1.6% during the second quarter. Summit Global Investments now owns 12,844 shares of the industrial products company's stock valued at $731,000 after acquiring an additional 204 shares in the last quarter. Finally, Hsbc Holdings PLC increased its holdings in shares of Mueller Industries by 1.8% during the second quarter. Hsbc Holdings PLC now owns 13,188 shares of the industrial products company's stock valued at $757,000 after acquiring an additional 233 shares in the last quarter. 94.50% of the stock is currently owned by institutional investors.

Mueller Industries Stock Performance

Shares of NYSE MLI traded up $0.89 during midday trading on Friday, hitting $94.40. 677,747 shares of the stock traded hands, compared to its average volume of 851,222. The company has a market cap of $10.74 billion, a PE ratio of 18.33 and a beta of 1.01. Mueller Industries, Inc. has a one year low of $37.54 and a one year high of $95.84. The business has a 50 day moving average price of $75.01 and a two-hundred day moving average price of $65.95.

Mueller Industries (NYSE:MLI - Get Free Report) last announced its earnings results on Tuesday, October 22nd. The industrial products company reported $1.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.32 by $0.16. Mueller Industries had a return on equity of 23.25% and a net margin of 16.39%. The company had revenue of $997.80 million for the quarter, compared to analysts' expectations of $936.00 million. The business's revenue was up 21.7% on a year-over-year basis.

Mueller Industries Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Friday, December 6th will be paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.85%. Mueller Industries's payout ratio is 15.53%.

Insider Activity at Mueller Industries

In other Mueller Industries news, CEO Gregory L. Christopher sold 50,000 shares of the company's stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $69.92, for a total value of $3,496,000.00. Following the transaction, the chief executive officer now directly owns 1,214,311 shares in the company, valued at $84,904,625.12. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Director John B. Hansen sold 1,000 shares of the stock in a transaction dated Wednesday, October 30th. The stock was sold at an average price of $83.09, for a total transaction of $83,090.00. Following the transaction, the director now directly owns 94,914 shares in the company, valued at approximately $7,886,404.26. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Gregory L. Christopher sold 50,000 shares of the stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $69.92, for a total value of $3,496,000.00. Following the transaction, the chief executive officer now owns 1,214,311 shares in the company, valued at $84,904,625.12. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 96,000 shares of company stock worth $6,626,940. 2.80% of the stock is 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.