Bank of Montreal Can Has $6.79 Million Stake in Mueller Industries, Inc. (NYSE:MLI)

Bank of Montreal Can increased its stake in Mueller Industries, Inc. (NYSE:MLI) by 163.6% in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 118,527 shares of the industrial products company’s stock after purchasing an additional 73,567 shares during the quarter. Bank of Montreal Can owned approximately 0.10% of Mueller Industries worth $6,790,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. International Assets Investment Management LLC acquired a new stake in shares of Mueller Industries in the second quarter worth $26,000. Federated Hermes Inc. acquired a new position in Mueller Industries during the 2nd quarter worth $28,000. Opal Wealth Advisors LLC bought a new stake in Mueller Industries during the second quarter valued at about $30,000. LifeSteps Financial Inc. acquired a new stake in shares of Mueller Industries in the first quarter valued at about $43,000. Finally, CWM LLC increased its stake in shares of Mueller Industries by 36.9% in the first quarter. CWM LLC now owns 827 shares of the industrial products company’s stock worth $45,000 after purchasing an additional 223 shares during the period. Institutional investors own 94.50% of the company’s stock.

Insider Transactions at Mueller Industries

In related news, Director John B. Hansen sold 8,000 shares of the stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $67.24, for a total value of $537,920.00. Following the completion of the sale, the director now owns 95,914 shares in the company, valued at $6,449,257.36. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In related news, Director John B. Hansen sold 8,000 shares of the company’s stock in a transaction on Friday, August 9th. The stock was sold at an average price of $67.24, for a total value of $537,920.00. Following the completion of the transaction, the director now directly owns 95,914 shares in the company, valued at $6,449,257.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Gregory L. Christopher sold 50,000 shares of Mueller Industries stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $69.92, for a total transaction of $3,496,000.00. Following the sale, the chief executive officer now owns 1,214,311 shares in the company, valued at approximately $84,904,625.12. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 103,000 shares of company stock worth $7,081,770. 2.80% of the stock is currently owned by company insiders.

Mueller Industries Stock Performance

NYSE MLI opened at $74.10 on Tuesday. The stock has a 50-day simple moving average of $69.29 and a 200 day simple moving average of $60.89. Mueller Industries, Inc. has a twelve month low of $34.96 and a twelve month high of $74.47. The stock has a market capitalization of $8.42 billion, a PE ratio of 14.85 and a beta of 1.03.

Mueller Industries (NYSE:MLI) last issued its quarterly earnings results on Tuesday, July 23rd. The industrial products company reported $1.41 EPS for the quarter, topping analysts’ consensus estimates of $1.29 by $0.12. The company had revenue of $997.75 million during the quarter. Mueller Industries had a return on equity of 22.86% and a net margin of 16.19%.

Mueller Industries Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, September 20th. Shareholders of record on Friday, September 6th were given a $0.20 dividend. The ex-dividend date was Friday, September 6th. This represents a $0.80 annualized dividend and a yield of 1.08%. Mueller Industries’s dividend payout ratio is 16.03%.

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.