Mackenzie Financial Corp Trims Holdings in Mueller Industries, Inc. (NYSE:MLI)

Mackenzie Financial Corp reduced its stake in Mueller Industries, Inc. (NYSE:MLI) by 11.4% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 8,838 shares of the industrial products company’s stock after selling 1,140 shares during the quarter. Mackenzie Financial Corp’s holdings in Mueller Industries were worth $503,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of MLI. Vanguard Group Inc. increased its position in Mueller Industries by 0.5% during the first quarter. Vanguard Group Inc. now owns 12,359,057 shares of the industrial products company’s stock worth $666,524,000 after purchasing an additional 59,060 shares during the last quarter. Congress Asset Management Co. MA grew its stake in shares of Mueller Industries by 100.5% in the 4th quarter. Congress Asset Management Co. MA now owns 200,898 shares of the industrial products company’s stock valued at $9,472,000 after buying an additional 100,696 shares during the period. Perpetual Ltd increased its holdings in shares of Mueller Industries by 9.8% during the 1st quarter. Perpetual Ltd now owns 174,952 shares of the industrial products company’s stock worth $9,435,000 after buying an additional 15,547 shares during the last quarter. Stifel Financial Corp raised its position in shares of Mueller Industries by 95.4% during the 4th quarter. Stifel Financial Corp now owns 99,720 shares of the industrial products company’s stock valued at $4,702,000 after buying an additional 48,678 shares during the period. Finally, Teachers Retirement System of The State of Kentucky lifted its holdings in Mueller Industries by 100.0% in the fourth quarter. Teachers Retirement System of The State of Kentucky now owns 36,808 shares of the industrial products company’s stock valued at $1,735,000 after acquiring an additional 18,404 shares during the last quarter. Hedge funds and other institutional investors own 94.50% of the company’s stock.

Insider Activity at Mueller Industries

In other Mueller Industries news, CEO Gregory L. Christopher sold 50,000 shares of the company’s 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 transaction, the chief executive officer now directly owns 1,214,311 shares in the company, valued at $84,904,625.12. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Mueller Industries news, CEO Gregory L. Christopher sold 50,000 shares of the business’s stock in a transaction dated Thursday, August 22nd. The shares were 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 directly owns 1,214,311 shares in the company, valued at $84,904,625.12. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Gregory L. Christopher sold 45,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $67.73, for a total transaction of $3,047,850.00. Following the completion of the transaction, the chief executive officer now directly owns 1,264,311 shares of the company’s stock, valued at approximately $85,631,784.03. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 103,000 shares of company stock worth $7,081,770. Insiders own 2.80% of the company’s stock.

Mueller Industries Stock Up 1.2 %

MLI stock opened at $72.64 on Friday. Mueller Industries, Inc. has a 52-week low of $34.96 and a 52-week high of $74.47. The stock has a market cap of $8.25 billion, a price-to-earnings ratio of 14.56 and a beta of 1.03. The business has a fifty day moving average of $69.66 and a two-hundred day moving average of $61.33.

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

Mueller Industries Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 20th. Investors of record on Friday, September 6th were given a dividend of $0.20 per share. The ex-dividend date was Friday, September 6th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.10%. Mueller Industries’s payout ratio is currently 16.03%.

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.