CANADA LIFE ASSURANCE Co Reduces Stock Position in Mueller Industries, Inc. (NYSE:MLI)

CANADA LIFE ASSURANCE Co cut its holdings in shares of Mueller Industries, Inc. (NYSE:MLI - Free Report) by 24.5% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 97,957 shares of the industrial products company's stock after selling 31,758 shares during the quarter. CANADA LIFE ASSURANCE Co owned 0.09% of Mueller Industries worth $7,775,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Barclays PLC lifted its stake in Mueller Industries by 343.9% in the third quarter. Barclays PLC now owns 197,206 shares of the industrial products company's stock worth $14,613,000 after purchasing an additional 152,780 shares during the last quarter. Virtu Financial LLC bought a new position in Mueller Industries during the 3rd quarter worth approximately $278,000. Westside Investment Management Inc. purchased a new position in Mueller Industries in the 3rd quarter worth approximately $41,000. World Investment Advisors LLC bought a new stake in Mueller Industries in the third quarter valued at approximately $2,166,000. Finally, Franklin Resources Inc. boosted its stake in shares of Mueller Industries by 6.7% during the third quarter. Franklin Resources Inc. now owns 69,102 shares of the industrial products company's stock valued at $5,073,000 after purchasing an additional 4,360 shares during the period. 94.50% of the stock is currently owned by institutional investors.

Mueller Industries Stock Down 1.2 %

Shares of Mueller Industries stock traded down $0.92 during trading on Friday, reaching $73.06. 604,158 shares of the stock were exchanged, compared to its average volume of 926,424. The firm has a market cap of $8.09 billion, a price-to-earnings ratio of 13.76 and a beta of 0.96. Mueller Industries, Inc. has a 1 year low of $53.53 and a 1 year high of $96.81. The stock's fifty day moving average is $76.60 and its 200 day moving average is $79.80.

Mueller Industries (NYSE:MLI - Get Free Report) last announced its earnings results on Tuesday, April 22nd. The industrial products company reported $1.39 earnings per share for the quarter, beating analysts' consensus estimates 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 company also recently announced a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Friday, March 14th were issued a $0.25 dividend. 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 annualized dividend and a yield of 1.37%. Mueller Industries's payout ratio is 18.83%.

Insider Transactions at Mueller Industries

In other Mueller Industries news, Director Scott Jay Goldman sold 10,000 shares of the stock in a transaction that occurred 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 completion of the sale, the director now directly owns 56,098 shares of the company's stock, valued at $4,477,181.38. This trade represents a 15.13 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 2.70% of the company's stock.

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.