Mueller Industries, Inc. (NYSE:MLI) Shares Sold by Fiera Capital Corp

Fiera Capital Corp trimmed its position in Mueller Industries, Inc. (NYSE:MLI - Free Report) by 0.8% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 465,339 shares of the industrial products company's stock after selling 3,631 shares during the quarter. Fiera Capital Corp owned about 0.42% of Mueller Industries worth $35,431,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Golden State Wealth Management LLC grew its holdings in Mueller Industries by 103.1% in the first quarter. Golden State Wealth Management LLC now owns 331 shares of the industrial products company's stock valued at $25,000 after purchasing an additional 168 shares during the period. New Age Alpha Advisors LLC purchased a new stake in Mueller Industries in the fourth quarter valued at $32,000. Wayfinding Financial LLC purchased a new stake in Mueller Industries in the first quarter valued at $34,000. Opal Wealth Advisors LLC purchased a new stake in Mueller Industries in the first quarter valued at $40,000. Finally, Quarry LP purchased a new stake in Mueller Industries in the fourth quarter valued at $45,000. 94.50% of the stock is owned by institutional investors and hedge funds.

Mueller Industries Stock Down 2.4%

NYSE:MLI traded down $2.01 on Friday, reaching $83.36. The company's stock had a trading volume of 1,050,271 shares, compared to its average volume of 1,031,689. The firm has a market cap of $9.23 billion, a price-to-earnings ratio of 13.23 and a beta of 1.01. Mueller Industries, Inc. has a 12-month low of $62.74 and a 12-month high of $96.81. The stock has a 50 day moving average price of $80.71 and a 200 day moving average price of $78.64.

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, topping 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 firm had revenue of $1.14 billion during the quarter, compared to analysts' expectations of $1.12 billion. Mueller Industries's revenue was up 14.1% compared to the same quarter last year.

Mueller Industries Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 19th. Stockholders of record on Friday, September 5th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Friday, September 5th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.2%. Mueller Industries's payout ratio is presently 15.87%.

Insider Buying and Selling

In other news, Director John B. Hansen sold 3,130 shares of the stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $78.07, for a total transaction of $244,359.10. Following the completion of the transaction, the director directly owned 93,914 shares of the company's stock, valued at approximately $7,331,865.98. This represents a 3.23% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Terry Hermanson sold 10,000 shares of the stock in a transaction that occurred on Tuesday, May 6th. The stock was sold at an average price of $74.34, for a total value of $743,400.00. Following the transaction, the director directly owned 100,082 shares of the company's stock, valued at approximately $7,440,095.88. This trade represents a 9.08% decrease in their ownership of the stock. The disclosure for this sale can be found here. 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.