TD Asset Management Inc Takes Position in Mueller Industries, Inc. (NYSE:MLI)

TD Asset Management Inc bought a new position in shares of Mueller Industries, Inc. (NYSE:MLI - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 237,902 shares of the industrial products company's stock, valued at approximately $18,114,000. TD Asset Management Inc owned 0.22% of Mueller Industries as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Norges Bank acquired a new position in Mueller Industries in the 4th quarter valued at $117,351,000. Invesco Ltd. raised its stake in Mueller Industries by 50.3% in the 4th quarter. Invesco Ltd. now owns 2,788,607 shares of the industrial products company's stock valued at $221,304,000 after purchasing an additional 933,498 shares during the last quarter. FMR LLC raised its stake in Mueller Industries by 79.2% in the 4th quarter. FMR LLC now owns 1,911,689 shares of the industrial products company's stock valued at $151,712,000 after purchasing an additional 845,031 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec raised its stake 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 purchasing an additional 665,413 shares during the last quarter. Finally, SG Capital Management LLC acquired a new position in Mueller Industries in the 4th quarter valued at $34,704,000. Hedge funds and other institutional investors own 94.50% of the company's stock.

Mueller Industries Stock Down 2.4%

Shares of MLI traded down $2.01 during midday trading on Friday, reaching $83.36. The company had a trading volume of 1,050,374 shares, compared to its average volume of 963,215. Mueller Industries, Inc. has a 1-year low of $62.74 and a 1-year high of $96.81. The stock has a market cap of $9.23 billion, a PE ratio of 13.23 and a beta of 1.02. The firm has a 50 day simple moving average of $80.86 and a 200-day simple moving average of $78.66.

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, 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 during the quarter, compared to the consensus estimate of $1.12 billion. Mueller Industries's revenue for the quarter was up 14.1% compared to the same quarter last year.

Mueller Industries Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, September 19th. Investors 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 yield of 1.2%. The ex-dividend date is Friday, September 5th. Mueller Industries's dividend payout ratio (DPR) is 15.87%.

Insider Transactions at Mueller Industries

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