10,458 Shares in Mueller Industries, Inc. (NYSE:MLI) Bought by Cibc World Markets Corp

Cibc World Markets Corp bought a new position in shares of Mueller Industries, Inc. (NYSE:MLI) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 10,458 shares of the industrial products company’s stock, valued at approximately $830,000.

Other large investors also recently bought and sold shares of the company. CIBC Asset Management Inc purchased a new stake in shares of Mueller Industries in the 3rd quarter worth about $243,000. Quest Partners LLC lifted its holdings in shares of Mueller Industries by 107,875.0% in the third quarter. Quest Partners LLC now owns 4,319 shares of the industrial products company’s stock valued at $320,000 after purchasing an additional 4,315 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of Mueller Industries in the third quarter valued at approximately $1,922,000. Advisors Asset Management Inc. increased its stake in shares of Mueller Industries by 5.5% during the 3rd quarter. Advisors Asset Management Inc. now owns 36,174 shares of the industrial products company’s stock worth $2,680,000 after purchasing an additional 1,900 shares in the last quarter. Finally, Intech Investment Management LLC raised its position in shares of Mueller Industries by 32.2% during the 3rd quarter. Intech Investment Management LLC now owns 63,248 shares of the industrial products company’s stock worth $4,687,000 after purchasing an additional 15,407 shares during the last quarter. Institutional investors and hedge funds own 94.50% of the company’s stock.

Mueller Industries Trading Down 2.8 %

Mueller Industries stock opened at $77.34 on Friday. The stock has a market cap of $8.76 billion, a PE ratio of 14.56 and a beta of 0.99. The stock has a 50-day moving average price of $80.18 and a 200 day moving average price of $79.24. Mueller Industries, Inc. has a 52 week low of $50.85 and a 52 week high of $96.81.

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

Mueller Industries Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, March 14th will be paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.29%. The ex-dividend date of this dividend is Friday, March 14th. This is a positive change from Mueller Industries’s previous quarterly dividend of $0.20. Mueller Industries’s dividend payout ratio is currently 18.83%.

Analyst Upgrades and Downgrades

Separately, Northcoast Research upgraded Mueller Industries from a “neutral” rating to a “buy” rating and set a $105.00 target price on the stock in a report on Wednesday, December 11th.

Insider Activity

In related news, Director Scott Jay Goldman sold 10,000 shares of the firm’s 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 sale, the director now directly owns 56,098 shares of the company’s stock, valued at approximately $4,477,181.38. This trade represents a 15.13 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company 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.