TD Asset Management Inc Buys Shares of 237,902 Mueller Industries, Inc. (NYSE:MLI)

TD Asset Management Inc purchased a new stake in Mueller Industries, Inc. (NYSE:MLI - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 237,902 shares of the industrial products company's stock, valued at approximately $18,114,000. TD Asset Management Inc owned about 0.22% of Mueller Industries as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in MLI. LPL Financial LLC raised its position in shares of Mueller Industries by 59.9% during the fourth quarter. LPL Financial LLC now owns 161,041 shares of the industrial products company's stock worth $12,780,000 after purchasing an additional 60,354 shares during the period. Mitsubishi UFJ Trust & Banking Corp raised its position in Mueller Industries by 18.4% in the 4th quarter. Mitsubishi UFJ Trust & Banking Corp now owns 31,817 shares of the industrial products company's stock valued at $2,525,000 after buying an additional 4,938 shares during the last quarter. Blair William & Co. IL acquired a new stake in Mueller Industries in the 4th quarter valued at approximately $1,093,000. Norges Bank acquired a new stake in Mueller Industries in the 4th quarter valued at approximately $117,351,000. Finally, New Age Alpha Advisors LLC acquired a new stake in Mueller Industries in the 4th quarter valued at approximately $32,000. Institutional investors own 94.50% of the company's stock.

Insider Activity

In other news, Director Terry Hermanson sold 10,000 shares of Mueller Industries stock in a transaction 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 owned 100,082 shares in the company, valued at approximately $7,440,095.88. This trade represents a 9.08% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director John B. Hansen sold 3,130 shares of Mueller Industries stock in a transaction dated Monday, May 12th. The shares were 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 represents a 3.23% decrease in their position. The disclosure for this sale can be found here. 2.70% of the stock is owned by insiders.

Mueller Industries Trading Down 2.4%

Shares of NYSE:MLI traded down $2.01 during trading on Friday, hitting $83.36. 1,050,271 shares of the company were exchanged, compared to its average volume of 1,031,689. The stock 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 fifty-two week low of $62.74 and a fifty-two week high of $96.81. The firm has a fifty day moving average price of $80.71 and a two-hundred day moving average price of $78.64.

Mueller Industries (NYSE:MLI - Get Free Report) last issued 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 company had revenue of $1.14 billion during the quarter, compared to the consensus estimate of $1.12 billion. Mueller Industries's quarterly revenue was up 14.1% compared to the same quarter last year.

Mueller Industries Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 19th. Shareholders of record on Friday, September 5th will be paid a $0.25 dividend. The ex-dividend date is Friday, September 5th. This represents a $1.00 annualized dividend and a yield of 1.2%. Mueller Industries's 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.