Mueller Industries, Inc. (NYSE:MLI) Shares Sold by AIA Group Ltd

AIA Group Ltd lessened its stake in Mueller Industries, Inc. (NYSE:MLI) by 49.7% during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 11,978 shares of the industrial products company’s stock after selling 11,836 shares during the quarter. AIA Group Ltd’s holdings in Mueller Industries were worth $646,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of the stock. LSV Asset Management raised its stake in shares of Mueller Industries by 1.3% in the 1st quarter. LSV Asset Management now owns 1,453,568 shares of the industrial products company’s stock valued at $78,391,000 after purchasing an additional 18,268 shares in the last quarter. Texas Permanent School Fund Corp grew its position in shares of Mueller Industries by 1.3% during the 1st quarter. Texas Permanent School Fund Corp now owns 99,359 shares of the industrial products company’s stock valued at $5,358,000 after buying an additional 1,287 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S grew its position in shares of Mueller Industries by 15.6% during the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 11,488 shares of the industrial products company’s stock valued at $620,000 after buying an additional 1,554 shares during the last quarter. Central Pacific Bank Trust Division bought a new stake in shares of Mueller Industries during the 1st quarter valued at about $642,000. Finally, Jennison Associates LLC grew its position in shares of Mueller Industries by 2.3% during the 1st quarter. Jennison Associates LLC now owns 20,563 shares of the industrial products company’s stock valued at $1,109,000 after buying an additional 469 shares during the last quarter. Institutional investors and hedge funds own 94.50% of the company’s stock.

Insiders Place Their Bets

In other news, Director John B. Hansen sold 2,733 shares of the stock in a transaction that occurred 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 completion of 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 legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CFO Jeffrey Andrew Martin sold 52,436 shares of the stock in a transaction that occurred on Friday, April 26th. The shares were sold at an average price of $57.25, for a total transaction of $3,001,961.00. Following the completion of the sale, the chief financial officer now directly owns 313,529 shares of the company’s stock, valued at $17,949,535.25. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director John B. Hansen sold 2,733 shares of the stock in a transaction that occurred on Monday, May 13th. The shares were sold at an average price of $58.61, for a total transaction of $160,181.13. Following the sale, the director now directly owns 103,914 shares of the company’s stock, valued at $6,090,399.54. The disclosure for this sale can be found here. In the last 90 days, insiders sold 61,169 shares of company stock worth $3,506,762. Insiders own 2.80% of the company’s stock.

Mueller Industries Price Performance

Shares of NYSE:MLI traded up $0.60 during trading on Friday, reaching $59.90. 548,765 shares of the company’s stock traded hands, compared to its average volume of 670,888. Mueller Industries, Inc. has a 12 month low of $34.96 and a 12 month high of $60.87. The company has a 50 day moving average of $57.16 and a 200-day moving average of $52.90. The stock has a market capitalization of $6.80 billion, a P/E ratio of 12.00 and a beta of 1.06.

Mueller Industries (NYSE:MLI) last posted its earnings results on Tuesday, April 23rd. The industrial products company reported $1.21 EPS for the quarter. Mueller Industries had a net margin of 17.22% and a return on equity of 24.69%. The firm had revenue of $849.65 million during the quarter.

Mueller Industries Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 21st. Shareholders of record on Friday, June 7th were given a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 1.34%. The ex-dividend date of this dividend was Friday, June 7th. Mueller Industries’s dividend payout ratio (DPR) is 16.03%.

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.