Scotia Capital Inc. Acquires 906 Shares of Mueller Industries, Inc. (NYSE:MLI)

Scotia Capital Inc. lifted its holdings in shares of Mueller Industries, Inc. (NYSE:MLI) by 11.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,074 shares of the industrial products company’s stock after purchasing an additional 906 shares during the period. Scotia Capital Inc.’s holdings in Mueller Industries were worth $720,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. New Age Alpha Advisors LLC bought a new stake in Mueller Industries in the fourth quarter worth about $32,000. Westside Investment Management Inc. bought a new stake in shares of Mueller Industries in the 3rd quarter worth approximately $41,000. SBI Securities Co. Ltd. purchased a new position in Mueller Industries in the fourth quarter valued at approximately $47,000. Mirae Asset Global Investments Co. Ltd. bought a new position in Mueller Industries during the fourth quarter valued at $53,000. Finally, City State Bank purchased a new stake in Mueller Industries in the fourth quarter worth $58,000. 94.50% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Mueller Industries

In other Mueller Industries news, Director Scott Jay Goldman sold 10,000 shares of the firm’s stock in a transaction dated Thursday, February 13th. The stock was sold at an average price of $79.81, for a total value of $798,100.00. Following the completion of the transaction, the director now owns 56,098 shares in the company, valued at $4,477,181.38. This trade represents a 15.13 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 2.80% of the stock is owned by company insiders.

Mueller Industries Price Performance

Shares of NYSE MLI opened at $73.82 on Tuesday. The stock has a market capitalization of $8.18 billion, a PE ratio of 13.90 and a beta of 0.96. Mueller Industries, Inc. has a one year low of $50.85 and a one year high of $96.81. The business’s fifty day moving average price is $78.27 and its 200-day moving average price is $79.95.

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

Mueller Industries Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Friday, March 14th were issued a $0.25 dividend. The ex-dividend date was Friday, March 14th. This is an increase from Mueller Industries’s previous quarterly dividend of $0.20. This represents a $1.00 annualized dividend and a yield of 1.35%. Mueller Industries’s dividend payout ratio (DPR) is 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.