Mueller Industries, Inc. (NYSE:MLI) Shares Purchased by Mackenzie Financial Corp

Mackenzie Financial Corp increased its holdings in shares of Mueller Industries, Inc. (NYSE:MLI - Free Report) by 146.0% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 8,852 shares of the industrial products company's stock after purchasing an additional 5,254 shares during the quarter. Mackenzie Financial Corp's holdings in Mueller Industries were worth $674,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of the business. Golden State Wealth Management LLC raised its holdings in shares of Mueller Industries by 103.1% during the 1st quarter. Golden State Wealth Management LLC now owns 331 shares of the industrial products company's stock valued at $25,000 after buying an additional 168 shares during the period. Wayfinding Financial LLC acquired a new stake in Mueller Industries in the first quarter valued at approximately $34,000. Opal Wealth Advisors LLC purchased a new stake in shares of Mueller Industries during the first quarter valued at approximately $40,000. Quarry LP acquired a new position in shares of Mueller Industries during the fourth quarter worth $45,000. Finally, Point72 Hong Kong Ltd purchased a new position in shares of Mueller Industries in the fourth quarter valued at $53,000. Hedge funds and other institutional investors own 94.50% of the company's stock.

Insider Activity

In other Mueller Industries news, Director John B. Hansen sold 3,130 shares of the stock in a transaction on Monday, May 12th. The shares were sold at an average price of $78.07, for a total transaction of $244,359.10. Following the transaction, the director directly owned 93,914 shares in the company, valued at $7,331,865.98. This represents a 3.23% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 2.70% of the stock is currently owned by insiders.

Mueller Industries Price Performance

MLI traded up $0.72 during trading hours on Friday, reaching $88.98. 569,757 shares of the stock traded hands, compared to its average volume of 1,027,335. Mueller Industries, Inc. has a fifty-two week low of $65.24 and a fifty-two week high of $96.81. The company has a market cap of $9.85 billion, a price-to-earnings ratio of 14.12 and a beta of 1.02. The firm's fifty day simple moving average is $81.63 and its two-hundred day simple moving average is $78.80.

Mueller Industries (NYSE:MLI - Get Free Report) last announced its earnings results on Tuesday, July 22nd. The industrial products company reported $1.96 earnings per share 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 the consensus estimate of $1.12 billion. The firm's quarterly revenue was up 14.1% compared to the same quarter last year.

Mueller Industries Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 19th. Shareholders of record on Friday, September 5th will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date of this dividend is Friday, September 5th. Mueller Industries's dividend payout ratio is presently 15.87%.

Mueller Industries Company 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.