Fiera Capital Corp Sells 9,612 Shares of Mueller Industries, Inc. $MLI

Fiera Capital Corp lessened its position in Mueller Industries, Inc. (NYSE:MLI) by 2.1% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 448,987 shares of the industrial products company’s stock after selling 9,612 shares during the period. Fiera Capital Corp owned about 0.40% of Mueller Industries worth $45,397,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in MLI. Norges Bank bought a new stake in Mueller Industries during the second quarter worth about $127,287,000. Qube Research & Technologies Ltd acquired a new position in shares of Mueller Industries in the 2nd quarter worth approximately $75,901,000. Vaughan Nelson Investment Management L.P. bought a new stake in Mueller Industries during the 3rd quarter worth approximately $51,789,000. Cubist Systematic Strategies LLC bought a new stake in Mueller Industries during the 2nd quarter worth approximately $36,974,000. Finally, HRT Financial LP acquired a new stake in Mueller Industries during the 2nd quarter valued at $30,442,000. Institutional investors and hedge funds own 94.50% of the company’s stock.

Mueller Industries Stock Performance

NYSE:MLI opened at $118.90 on Friday. The company has a market cap of $13.20 billion, a price-to-earnings ratio of 17.31 and a beta of 1.03. The stock’s fifty day moving average price is $122.38 and its two-hundred day moving average price is $108.47. Mueller Industries, Inc. has a 52-week low of $66.84 and a 52-week high of $139.29.

Mueller Industries Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 27th. Stockholders of record on Friday, March 13th will be paid a $0.35 dividend. This is a boost from Mueller Industries’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend is Friday, March 13th. This represents a $1.40 annualized dividend and a dividend yield of 1.2%. Mueller Industries’s payout ratio is 14.56%.

Insider Buying and Selling

In other Mueller Industries news, Director John B. Hansen sold 1,000 shares of the firm’s stock in a transaction that occurred on Monday, February 9th. The shares were sold at an average price of $116.71, for a total value of $116,710.00. Following the transaction, the director directly owned 90,664 shares of the company’s stock, valued at approximately $10,581,395.44. This trade represents a 1.09% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Scott Jay Goldman sold 4,430 shares of the company’s stock in a transaction on Friday, February 13th. The shares were sold at an average price of $118.97, for a total transaction of $527,037.10. Following the sale, the director owned 41,645 shares of the company’s stock, valued at $4,954,505.65. The trade was a 9.61% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 9,664 shares of company stock valued at $1,103,729. 2.70% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on MLI shares. Wall Street Zen lowered Mueller Industries from a “buy” rating to a “hold” rating in a research note on Saturday, February 7th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Mueller Industries in a report on Thursday, January 22nd. One equities research analyst has rated the stock with a Buy rating, According to data from MarketBeat, the stock has a consensus rating of “Buy”.

Mueller Industries Profile

Mueller Industries, Inc is a diversified manufacturer and marketer of copper, brass, aluminum and plastic products. Headquartered in Memphis, Tennessee, the company serves a wide range of markets including HVAC (heating, ventilation and air conditioning), refrigeration, plumbing, industrial gas, automotive and agricultural sectors. Its product portfolio encompasses copper and plastic tubing, brass fittings, valves and related components designed for fluid handling and temperature control applications.

The company operates through multiple business segments, including the Plumbing & Refrigeration segment, which supplies copper and plastic tubing, fittings and valves for residential and commercial construction markets; the Industrial Metals & Mining segment, which provides aluminum shapes and specialty brass products for industrial applications; and the Climate segment, which focuses on copper tubing and components for air conditioning and refrigeration systems.