6,700 Shares in Mueller Industries, Inc. $MLI Bought by Northwest & Ethical Investments L.P.

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. bought a new stake in shares of Mueller Industries, Inc. (NYSE:MLI - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 6,700 shares of the industrial products company's stock, valued at approximately $509,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. D.A. Davidson & CO. bought a new stake in shares of Mueller Industries during the 1st quarter valued at about $317,000. Fifth Third Bancorp boosted its position in shares of Mueller Industries by 6.1% during the 1st quarter. Fifth Third Bancorp now owns 3,701 shares of the industrial products company's stock valued at $282,000 after purchasing an additional 213 shares in the last quarter. SG Americas Securities LLC bought a new stake in shares of Mueller Industries during the 1st quarter valued at about $303,000. Chevy Chase Trust Holdings LLC acquired a new position in Mueller Industries during the 1st quarter worth approximately $4,140,000. Finally, KBC Group NV raised its stake in Mueller Industries by 391.3% during the 1st quarter. KBC Group NV now owns 20,575 shares of the industrial products company's stock worth $1,567,000 after buying an additional 16,387 shares during the period. Institutional investors own 94.50% of the company's stock.

Insiders Place Their Bets

In related news, Director John B. Hansen sold 1,000 shares of the company's stock in a transaction that occurred 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 transaction, the director directly owned 92,664 shares of the company's stock, valued at approximately $8,522,308.08. This represents a 1.07% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 2.70% of the company's stock.

Mueller Industries Trading Up 3.9%

MLI stock traded up $3.5490 during trading on Friday, reaching $94.2090. 671,390 shares of the stock were exchanged, compared to its average volume of 874,775. The firm's 50 day moving average is $84.81 and its 200 day moving average is $79.71. Mueller Industries, Inc. has a twelve month low of $65.24 and a twelve month high of $96.81. The firm has a market cap of $10.43 billion, a P/E ratio of 14.95 and a beta of 1.02.

Mueller Industries (NYSE:MLI - Get Free Report) last posted its quarterly earnings results on Tuesday, July 22nd. The industrial products company reported $1.96 earnings per share for the quarter, topping analysts' consensus estimates of $1.62 by $0.34. Mueller Industries had a return on equity of 24.47% and a net margin of 17.48%.The business had revenue of $1.14 billion for the quarter, compared to the consensus estimate 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 company also recently declared a quarterly dividend, which will be paid on Friday, September 19th. Investors of record on Friday, September 5th will be paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date of this dividend is Friday, September 5th. Mueller Industries's dividend payout ratio is 15.87%.

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.