Bank of Montreal Can Has $6.74 Million Holdings in Mueller Industries, Inc. (NYSE:MLI)

Bank of Montreal Can trimmed its holdings in Mueller Industries, Inc. (NYSE:MLI) by 13.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 84,923 shares of the industrial products company’s stock after selling 13,601 shares during the period. Bank of Montreal Can owned about 0.07% of Mueller Industries worth $6,739,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. FMR LLC grew its position in shares of Mueller Industries by 79.2% in the 4th quarter. FMR LLC now owns 1,911,689 shares of the industrial products company’s stock valued at $151,712,000 after purchasing an additional 845,031 shares during the period. Federated Hermes Inc. boosted its holdings in shares of Mueller Industries by 943.5% in the fourth quarter. Federated Hermes Inc. now owns 11,771 shares of the industrial products company’s stock valued at $934,000 after buying an additional 10,643 shares during the period. Russell Investments Group Ltd. increased its position in shares of Mueller Industries by 96.2% during the fourth quarter. Russell Investments Group Ltd. now owns 120,529 shares of the industrial products company’s stock worth $9,565,000 after acquiring an additional 59,098 shares in the last quarter. Wedbush Securities Inc. bought a new stake in shares of Mueller Industries during the fourth quarter worth $290,000. Finally, Grantham Mayo Van Otterloo & Co. LLC raised its holdings in shares of Mueller Industries by 22.6% during the fourth quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 50,780 shares of the industrial products company’s stock worth $4,030,000 after acquiring an additional 9,346 shares during the period. 94.50% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, Director Scott Jay Goldman sold 10,000 shares of the company’s stock in a transaction dated Thursday, February 13th. The stock was sold at an average price of $79.81, for a total transaction of $798,100.00. Following the sale, the director now owns 56,098 shares in the company, valued at approximately $4,477,181.38. This represents a 15.13 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 2.80% of the company’s stock.

Mueller Industries Trading Up 2.2 %

Shares of NYSE MLI opened at $74.24 on Monday. The company has a fifty day moving average price of $78.36 and a 200 day moving average price of $79.94. The firm has a market cap of $8.22 billion, a PE ratio of 13.98 and a beta of 0.96. Mueller Industries, Inc. has a 1-year low of $50.85 and a 1-year high of $96.81.

Mueller Industries (NYSE:MLI) last posted its quarterly earnings data on Tuesday, February 4th. The industrial products company reported $1.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.12 by $0.09. Mueller Industries had a return on equity of 22.97% and a net margin of 16.05%.

Mueller Industries Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Friday, March 14th were paid a $0.25 dividend. This is a positive change from Mueller Industries’s previous quarterly dividend of $0.20. This represents a $1.00 annualized dividend and a yield of 1.35%. The ex-dividend date was Friday, March 14th. Mueller Industries’s payout ratio is presently 18.83%.

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.