Caisse DE Depot ET Placement DU Quebec Has $93.26 Million Position in Mueller Industries, Inc. $MLI

Key Points

• Caisse DE Depot ET Placement DU Quebec increased its stake in Mueller Industries by 15.7%, owning 1,224,842 shares valued at approximately $93.3 million as of the latest SEC filing.
• Mueller Industries reported earnings of $1.96 per share for the last quarter, exceeding analysts' expectations of $1.62 and showing a 14.1% year-over-year revenue growth.
• The firm announced a quarterly dividend of $0.25 per share, with an annual yield of 1.1%, scheduled for payment on September 19th.

Caisse DE Depot ET Placement DU Quebec grew its stake in shares of Mueller Industries, Inc. (NYSE:MLI - Free Report) by 15.7% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,224,842 shares of the industrial products company's stock after purchasing an additional 166,012 shares during the period. Caisse DE Depot ET Placement DU Quebec owned approximately 1.11% of Mueller Industries worth $93,259,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Invesco Ltd. boosted its position in shares of Mueller Industries by 0.4% in the 1st quarter. Invesco Ltd. now owns 2,799,575 shares of the industrial products company's stock worth $213,160,000 after buying an additional 10,968 shares in the last quarter. Northern Trust Corp increased its stake in shares of Mueller Industries by 28.3% during the 4th quarter. Northern Trust Corp now owns 1,535,625 shares of the industrial products company's stock valued at $121,867,000 after acquiring an additional 338,902 shares during the last quarter. Systematic Financial Management LP increased its position in Mueller Industries by 1.0% during the 1st quarter. Systematic Financial Management LP now owns 957,113 shares of the industrial products company's stock worth $72,875,000 after purchasing an additional 9,463 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in Mueller Industries by 5.7% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 845,344 shares of the industrial products company's stock worth $67,087,000 after purchasing an additional 45,672 shares in the last quarter. Finally, Nuveen LLC acquired a new stake in Mueller Industries during the 1st quarter worth approximately $54,072,000. 94.50% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Mueller Industries

In related news, Director John B. Hansen sold 1,000 shares of Mueller Industries stock in a transaction dated Tuesday, August 12th. The stock was sold at an average price of $91.97, for a total transaction of $91,970.00. Following the transaction, the director directly owned 92,664 shares of the company's stock, valued at $8,522,308.08. The trade was a 1.07% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 2.70% of the company's stock.

Mueller Industries Price Performance

NYSE MLI traded down $0.62 on Friday, reaching $95.88. The company had a trading volume of 690,057 shares, compared to its average volume of 771,932. The firm has a market capitalization of $10.61 billion, a PE ratio of 15.22 and a beta of 1.02. The firm has a 50-day moving average of $87.10 and a 200-day moving average of $80.25. Mueller Industries, Inc. has a 1 year low of $65.24 and a 1 year high of $97.26.

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

Mueller Industries Announces Dividend

The firm also recently declared 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. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date of this dividend is Friday, September 5th. Mueller Industries's dividend payout ratio (DPR) is 15.87%.

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.