Caisse DE Depot ET Placement DU Quebec Acquires 171,671 Shares of Mueller Industries, Inc. (NYSE:MLI)

Caisse DE Depot ET Placement DU Quebec raised its holdings in Mueller Industries, Inc. (NYSE:MLI) by 77.4% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 393,417 shares of the industrial products company’s stock after buying an additional 171,671 shares during the period. Caisse DE Depot ET Placement DU Quebec owned about 0.35% of Mueller Industries worth $29,152,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. New York State Common Retirement Fund boosted its holdings in shares of Mueller Industries by 20.4% during the 3rd quarter. New York State Common Retirement Fund now owns 405,618 shares of the industrial products company’s stock worth $30,056,000 after buying an additional 68,633 shares during the period. Farther Finance Advisors LLC boosted its holdings in shares of Mueller Industries by 1,322.6% during the third quarter. Farther Finance Advisors LLC now owns 8,436 shares of the industrial products company’s stock worth $625,000 after acquiring an additional 7,843 shares during the period. SG Americas Securities LLC increased its stake in shares of Mueller Industries by 314.6% during the second quarter. SG Americas Securities LLC now owns 38,041 shares of the industrial products company’s stock worth $2,166,000 after purchasing an additional 28,865 shares during the period. Creative Planning lifted its holdings in Mueller Industries by 36.5% during the 3rd quarter. Creative Planning now owns 40,081 shares of the industrial products company’s stock worth $2,970,000 after purchasing an additional 10,714 shares during the last quarter. Finally, Catalyst Capital Advisors LLC boosted its stake in Mueller Industries by 8,040.2% in the 3rd quarter. Catalyst Capital Advisors LLC now owns 19,455 shares of the industrial products company’s stock valued at $1,442,000 after purchasing an additional 19,216 shares during the period. 94.50% of the stock is currently owned by institutional investors.

Mueller Industries Price Performance

MLI stock opened at $80.77 on Monday. Mueller Industries, Inc. has a fifty-two week low of $40.69 and a fifty-two week high of $96.81. The stock has a market capitalization of $9.19 billion, a price-to-earnings ratio of 15.68 and a beta of 1.01. The business’s fifty day moving average price is $80.53 and its two-hundred day moving average price is $69.14.

Mueller Industries (NYSE:MLI) last released its quarterly earnings results on Tuesday, October 22nd. The industrial products company reported $1.48 EPS for the quarter, topping analysts’ consensus estimates of $1.32 by $0.16. Mueller Industries had a net margin of 16.39% and a return on equity of 23.25%. The business had revenue of $997.80 million for the quarter, compared to analyst estimates of $936.00 million. Mueller Industries’s quarterly revenue was up 21.7% on a year-over-year basis.

Mueller Industries Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Friday, December 6th will be given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 0.99%. The ex-dividend date of this dividend is Friday, December 6th. Mueller Industries’s dividend payout ratio is currently 15.53%.

Insiders Place Their Bets

In other Mueller Industries news, Director Charles P. Herzog, Jr. sold 15,000 shares of the stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $92.04, for a total transaction of $1,380,600.00. Following the sale, the director now directly owns 17,733 shares in the company, valued at $1,632,145.32. This represents a 45.83 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director John B. Hansen sold 1,000 shares of the company’s stock in a transaction that occurred on Wednesday, October 30th. The stock was sold at an average price of $83.09, for a total transaction of $83,090.00. Following the sale, the director now directly owns 94,914 shares of the company’s stock, valued at approximately $7,886,404.26. This trade represents a 1.04 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 2.80% 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.