Bank of Montreal Can Sells 13,601 Shares of Mueller Industries, Inc. (NYSE:MLI)

Bank of Montreal Can lessened its holdings in shares of Mueller Industries, Inc. (NYSE:MLI) by 13.8% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 84,923 shares of the industrial products company’s stock after selling 13,601 shares during the quarter. Bank of Montreal Can’s holdings in Mueller Industries were worth $6,739,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Captrust Financial Advisors acquired a new position in shares of Mueller Industries during the 3rd quarter worth approximately $215,000. Quantinno Capital Management LP increased its holdings in shares of Mueller Industries by 18.4% in the third quarter. Quantinno Capital Management LP now owns 5,153 shares of the industrial products company’s stock valued at $382,000 after purchasing an additional 801 shares during the last quarter. Barclays PLC lifted its stake in shares of Mueller Industries by 343.9% during the 3rd quarter. Barclays PLC now owns 197,206 shares of the industrial products company’s stock worth $14,613,000 after buying an additional 152,780 shares during the last quarter. Coldstream Capital Management Inc. boosted its holdings in shares of Mueller Industries by 14.2% during the 3rd quarter. Coldstream Capital Management Inc. now owns 4,413 shares of the industrial products company’s stock worth $328,000 after buying an additional 549 shares during the period. Finally, Virtu Financial LLC acquired a new position in Mueller Industries in the 3rd quarter valued at about $278,000. Institutional investors own 94.50% of the company’s stock.

Mueller Industries Stock Up 2.2 %

Shares of MLI stock opened at $74.24 on Monday. Mueller Industries, Inc. has a 12-month low of $50.85 and a 12-month high of $96.81. The firm has a 50 day moving average price of $78.36 and a two-hundred day moving average price of $79.94. The company has a market capitalization of $8.22 billion, a PE ratio of 13.98 and a beta of 0.96.

Mueller Industries (NYSE:MLI) last issued its quarterly earnings data on Tuesday, February 4th. The industrial products company reported $1.21 EPS for the quarter, beating analysts’ consensus estimates of $1.12 by $0.09. Mueller Industries had a return on equity of 22.97% and a net margin of 16.05%.

Mueller Industries Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Friday, March 14th were paid a $0.25 dividend. This is a boost from Mueller Industries’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend was Friday, March 14th. This represents a $1.00 annualized dividend and a yield of 1.35%. Mueller Industries’s payout ratio is 18.83%.

Insider Buying and Selling at Mueller Industries

In other news, Director Scott Jay Goldman sold 10,000 shares of Mueller Industries stock in a transaction that occurred on Thursday, February 13th. The shares were sold at an average price of $79.81, for a total value of $798,100.00. Following the completion of the sale, the director now directly owns 56,098 shares in the company, valued at approximately $4,477,181.38. The trade was a 15.13 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 2.80% 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.