CANADA LIFE ASSURANCE Co Grows Stock Position in Mueller Industries, Inc. (NYSE:MLI)

CANADA LIFE ASSURANCE Co boosted its stake in shares of Mueller Industries, Inc. (NYSE:MLI) by 3.8% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 114,326 shares of the industrial products company’s stock after purchasing an additional 4,162 shares during the quarter. CANADA LIFE ASSURANCE Co’s holdings in Mueller Industries were worth $6,166,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the stock. CWM LLC grew its position in shares of Mueller Industries by 36.9% during the first quarter. CWM LLC now owns 827 shares of the industrial products company’s stock worth $45,000 after buying an additional 223 shares in the last quarter. Orion Portfolio Solutions LLC increased its position in shares of Mueller Industries by 0.7% in the 1st quarter. Orion Portfolio Solutions LLC now owns 32,845 shares of the industrial products company’s stock valued at $1,771,000 after purchasing an additional 240 shares during the last quarter. Fifth Third Bancorp raised its holdings in shares of Mueller Industries by 124.3% in the 4th quarter. Fifth Third Bancorp now owns 527 shares of the industrial products company’s stock valued at $25,000 after purchasing an additional 292 shares in the last quarter. Larson Financial Group LLC lifted its position in shares of Mueller Industries by 100.0% during the 4th quarter. Larson Financial Group LLC now owns 598 shares of the industrial products company’s stock worth $28,000 after purchasing an additional 299 shares during the last quarter. Finally, Parkside Financial Bank & Trust grew its stake in shares of Mueller Industries by 51.4% during the fourth quarter. Parkside Financial Bank & Trust now owns 1,373 shares of the industrial products company’s stock worth $65,000 after purchasing an additional 466 shares in the last quarter. Institutional investors and hedge funds own 94.50% of the company’s stock.

Mueller Industries Price Performance

Mueller Industries stock opened at $70.12 on Friday. The stock’s fifty day moving average is $58.47 and its two-hundred day moving average is $54.18. The stock has a market cap of $7.95 billion, a PE ratio of 14.05 and a beta of 1.06. Mueller Industries, Inc. has a 1-year low of $34.96 and a 1-year high of $70.58.

Mueller Industries (NYSE:MLI) last announced its quarterly earnings results on Tuesday, July 23rd. The industrial products company reported $1.41 earnings per share (EPS) for the quarter, beating 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 Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 21st. Investors of record on Friday, June 7th were given a $0.20 dividend. The ex-dividend date was Friday, June 7th. This represents a $0.80 dividend on an annualized basis and a yield of 1.14%. Mueller Industries’s dividend payout ratio (DPR) is presently 16.03%.

Insider Buying and Selling at Mueller Industries

In other news, Director Elizabeth M. Donovan sold 2,000 shares of the business’s stock in a transaction dated Thursday, May 30th. The stock was sold at an average price of $57.73, for a total value of $115,460.00. Following the completion of the sale, the director now directly owns 24,733 shares of the company’s stock, valued at approximately $1,427,836.09. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Mueller Industries news, Director John B. Hansen sold 2,733 shares of Mueller Industries stock in a transaction on Monday, May 13th. The shares were sold at an average price of $58.61, for a total value of $160,181.13. Following the transaction, the director now directly owns 103,914 shares in the company, valued at $6,090,399.54. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Elizabeth M. Donovan sold 2,000 shares of the company’s stock in a transaction that occurred on Thursday, May 30th. The shares were sold at an average price of $57.73, for a total value of $115,460.00. Following the sale, the director now directly owns 24,733 shares of the company’s stock, valued at $1,427,836.09. The disclosure for this sale can be found here. 2.80% of the stock is currently owned by insiders.

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.