Mackenzie Financial Corp Purchases 4,989 Shares of Mueller Industries, Inc. (NYSE:MLI)

Mackenzie Financial Corp increased its position in Mueller Industries, Inc. (NYSE:MLI) by 100.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,978 shares of the industrial products company’s stock after buying an additional 4,989 shares during the period. Mackenzie Financial Corp’s holdings in Mueller Industries were worth $470,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Strs Ohio raised its holdings in shares of Mueller Industries by 82.3% during the 4th quarter. Strs Ohio now owns 33,900 shares of the industrial products company’s stock worth $1,598,000 after acquiring an additional 15,300 shares in the last quarter. Freedom Day Solutions LLC raised its stake in Mueller Industries by 99.1% during the fourth quarter. Freedom Day Solutions LLC now owns 43,310 shares of the industrial products company’s stock valued at $2,042,000 after purchasing an additional 21,555 shares in the last quarter. Louisiana State Employees Retirement System bought a new position in Mueller Industries during the fourth quarter valued at $2,678,000. Ingalls & Snyder LLC grew its stake in shares of Mueller Industries by 100.0% in the 4th quarter. Ingalls & Snyder LLC now owns 5,700 shares of the industrial products company’s stock worth $269,000 after buying an additional 2,850 shares in the last quarter. Finally, EMC Capital Management grew its stake in shares of Mueller Industries by 100.0% in the 4th quarter. EMC Capital Management now owns 2,836 shares of the industrial products company’s stock worth $134,000 after buying an additional 1,418 shares in the last quarter. Hedge funds and other institutional investors own 94.50% of the company’s stock.

Mueller Industries Stock Down 1.8 %

Shares of MLI opened at $57.33 on Friday. The business has a fifty day moving average of $52.29 and a 200 day moving average of $46.86. The company has a market cap of $6.51 billion, a PE ratio of 11.49 and a beta of 1.08. Mueller Industries, Inc. has a 52-week low of $34.08 and a 52-week high of $59.59.

Mueller Industries (NYSE:MLI) last released its earnings results on Tuesday, February 6th. The industrial products company reported $1.05 earnings per share (EPS) for the quarter. The firm had revenue of $732.38 million during the quarter. Mueller Industries had a net margin of 17.22% and a return on equity of 24.69%.

Mueller Industries Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 15th were given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 1.40%. The ex-dividend date was Thursday, March 14th. This is a positive change from Mueller Industries’s previous quarterly dividend of $0.15. Mueller Industries’s payout ratio is 16.03%.

Wall Street Analyst Weigh In

MLI has been the topic of several recent research reports. Northcoast Research restated a “neutral” rating on shares of Mueller Industries in a research report on Friday, January 19th. StockNews.com lowered Mueller Industries from a “buy” rating to a “hold” rating in a research note on Monday, January 22nd.

Insider Transactions at Mueller Industries

In related news, CFO Jeffrey Andrew Martin sold 47,280 shares of the business’s stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $49.25, for a total transaction of $2,328,540.00. Following the completion of the transaction, the chief financial officer now owns 370,840 shares in the company, valued at approximately $18,263,870. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, CFO Jeffrey Andrew Martin sold 47,280 shares of the firm’s stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $49.25, for a total value of $2,328,540.00. Following the transaction, the chief financial officer now owns 370,840 shares of the company’s stock, valued at approximately $18,263,870. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director John B. Hansen sold 4,000 shares of the business’s stock in a transaction dated Thursday, April 25th. The shares were sold at an average price of $57.29, for a total transaction of $229,160.00. Following the completion of the sale, the director now directly owns 104,214 shares of the company’s stock, valued at $5,970,420.06. The disclosure for this sale can be found here. Over the last three months, insiders have sold 56,280 shares of company stock worth $2,804,350. 2.80% of the stock is currently owned by company insiders.

About Mueller Industries

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.