National Bank of Canada FI Has $9.02 Million Stock Holdings in Mueller Industries, Inc. (NYSE:MLI)

National Bank of Canada FI decreased its stake in Mueller Industries, Inc. (NYSE:MLI - Free Report) by 9.8% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 113,709 shares of the industrial products company's stock after selling 12,321 shares during the quarter. National Bank of Canada FI owned approximately 0.10% of Mueller Industries worth $9,024,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of MLI. Cerity Partners LLC grew its holdings in shares of Mueller Industries by 125.1% in the 3rd quarter. Cerity Partners LLC now owns 8,216 shares of the industrial products company's stock worth $609,000 after purchasing an additional 4,566 shares during the last quarter. Captrust Financial Advisors acquired a new stake in shares of Mueller Industries during the third quarter worth approximately $215,000. Benjamin Edwards Inc. bought a new position in shares of Mueller Industries in the third quarter valued at approximately $278,000. Janus Henderson Group PLC boosted its holdings in shares of Mueller Industries by 11.9% in the 3rd quarter. Janus Henderson Group PLC now owns 145,103 shares of the industrial products company's stock worth $10,753,000 after acquiring an additional 15,413 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. bought a new stake in Mueller Industries during the 3rd quarter worth approximately $5,459,000. 94.50% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Separately, Northcoast Research raised Mueller Industries from a "neutral" rating to a "buy" rating and set a $105.00 price objective on the stock in a research note on Wednesday, December 11th.

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Mueller Industries Trading Down 4.5 %

Shares of MLI traded down $3.39 during mid-day trading on Thursday, hitting $72.33. 146,814 shares of the company traded hands, compared to its average volume of 908,806. The stock has a market capitalization of $8.01 billion, a price-to-earnings ratio of 13.62 and a beta of 0.96. The business has a 50-day moving average of $78.51 and a 200 day moving average of $79.85. Mueller Industries, Inc. has a one year low of $50.85 and a one year high of $96.81.

Mueller Industries (NYSE:MLI - Get Free Report) last released its earnings results on Tuesday, February 4th. The industrial products company reported $1.21 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 firm also recently announced a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Friday, March 14th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.38%. The ex-dividend date of this dividend was Friday, March 14th. This is a positive change from Mueller Industries's previous quarterly dividend of $0.20. Mueller Industries's dividend payout ratio (DPR) is 18.83%.

Insider Transactions at Mueller Industries

In other news, Director Scott Jay Goldman sold 10,000 shares of the stock in a transaction on Thursday, February 13th. The stock was sold at an average price of $79.81, for a total value of $798,100.00. Following the transaction, the director now owns 56,098 shares of the company's stock, valued at $4,477,181.38. This represents a 15.13 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 2.80% of the stock is owned by corporate 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.