Northwest & Ethical Investments L.P. Invests $509,000 in Mueller Industries, Inc. $MLI

Key Points

• Northwest & Ethical Investments L.P. made a new investment of approximately $509,000 in Mueller Industries, Inc., acquiring 6,700 shares during the first quarter, according to a recent SEC filing.
• Several hedge funds, including Golden State Wealth Management and Benjamin Edwards Inc., have recently increased their positions in Mueller Industries, reflecting growing institutional interest with 94.5% of the company now owned by institutional investors.
• Mueller Industries announced a quarterly dividend of $0.25, payable on September 19, representing a 1.1% dividend yield and a payout ratio of 15.87%.

Northwest & Ethical Investments L.P. acquired a new stake in Mueller Industries, Inc. (NYSE:MLI - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 6,700 shares of the industrial products company's stock, valued at approximately $509,000.

Several other hedge funds have also recently added to or reduced their stakes in MLI. Nuveen LLC acquired a new position in Mueller Industries in the 1st quarter valued at $54,072,000. Caisse DE Depot ET Placement DU Quebec grew its holdings in Mueller Industries by 169.1% in the 4th quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,058,830 shares of the industrial products company's stock valued at $84,029,000 after buying an additional 665,413 shares in the last quarter. SG Capital Management LLC purchased a new stake in Mueller Industries in the 4th quarter valued at $34,704,000. Northern Trust Corp grew its holdings in Mueller Industries by 28.3% in 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 buying an additional 338,902 shares in the last quarter. Finally, Janus Henderson Group PLC grew its holdings in Mueller Industries by 202.1% in the 4th quarter. Janus Henderson Group PLC now owns 438,348 shares of the industrial products company's stock valued at $34,801,000 after buying an additional 293,245 shares in the last quarter. 94.50% of the stock is owned by institutional investors and hedge funds.

Mueller Industries Trading Up 0.2%

NYSE:MLI traded up $0.2060 during trading hours on Monday, hitting $94.5560. The company had a trading volume of 473,716 shares, compared to its average volume of 864,484. The company has a 50-day moving average of $85.22 and a 200 day moving average of $79.81. The company has a market cap of $10.47 billion, a P/E ratio of 15.01 and a beta of 1.02. Mueller Industries, Inc. has a 1 year low of $65.24 and a 1 year high of $96.81.

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

Mueller Industries Announces Dividend

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

Insider Buying and Selling at Mueller Industries

In other news, Director John B. Hansen sold 1,000 shares of the stock in a transaction on Tuesday, August 12th. The stock was sold at an average price of $91.97, for a total transaction of $91,970.00. Following the completion of the transaction, the director directly owned 92,664 shares in the company, valued at approximately $8,522,308.08. This represents a 1.07% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 2.70% of the company's stock.

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.