American International Group Inc. Has $2.88 Million Stake in Mueller Industries, Inc. (NYSE:MLI)

American International Group Inc. grew its holdings in shares of Mueller Industries, Inc. (NYSE:MLI) by 98.3% in the fourth quarter, HoldingsChannel.com reports. The fund owned 61,094 shares of the industrial products company’s stock after acquiring an additional 30,289 shares during the quarter. American International Group Inc.’s holdings in Mueller Industries were worth $2,881,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. TD Asset Management Inc grew its holdings in Mueller Industries by 91.2% during the 4th quarter. TD Asset Management Inc now owns 89,300 shares of the industrial products company’s stock worth $4,210,000 after acquiring an additional 42,600 shares during the period. Cary Street Partners Investment Advisory LLC grew its holdings in Mueller Industries by 100.1% during the 4th quarter. Cary Street Partners Investment Advisory LLC now owns 194,186 shares of the industrial products company’s stock worth $9,156,000 after acquiring an additional 97,140 shares during the period. BNP Paribas Financial Markets grew its holdings in Mueller Industries by 117.8% during the 4th quarter. BNP Paribas Financial Markets now owns 116,167 shares of the industrial products company’s stock worth $5,477,000 after acquiring an additional 62,834 shares during the period. F&V Capital Management LLC grew its holdings in Mueller Industries by 100.0% during the 4th quarter. F&V Capital Management LLC now owns 164,890 shares of the industrial products company’s stock worth $7,775,000 after acquiring an additional 82,445 shares during the period. Finally, Franklin Resources Inc. grew its holdings in Mueller Industries by 95.7% during the 4th quarter. Franklin Resources Inc. now owns 48,304 shares of the industrial products company’s stock worth $2,278,000 after acquiring an additional 23,618 shares during the period. 94.50% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Mueller Industries

In other news, Director John B. Hansen sold 4,000 shares of the stock in a transaction dated Thursday, April 25th. The shares were sold at an average price of $57.29, for a total transaction of $229,160.00. Following the transaction, the director now owns 104,214 shares of the company’s stock, valued at approximately $5,970,420.06. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director John B. Hansen sold 2,733 shares of the firm’s stock in a transaction dated 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 owns 103,914 shares of the company’s stock, valued at approximately $6,090,399.54. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director John B. Hansen sold 4,000 shares of the firm’s stock in a transaction dated Thursday, April 25th. The shares were sold at an average price of $57.29, for a total transaction of $229,160.00. Following the completion of the transaction, the director now directly owns 104,214 shares in the company, valued at approximately $5,970,420.06. The disclosure for this sale can be found here. Insiders have sold 61,169 shares of company stock valued at $3,506,762 in the last 90 days. 2.80% of the stock is currently owned by corporate insiders.

Mueller Industries Trading Up 1.8 %

Shares of Mueller Industries stock opened at $56.66 on Tuesday. The business has a 50-day moving average price of $56.73 and a two-hundred day moving average price of $51.83. Mueller Industries, Inc. has a 1-year low of $34.96 and a 1-year high of $60.31. The company has a market cap of $6.44 billion, a P/E ratio of 11.35 and a beta of 1.07.

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

Mueller Industries Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 21st. Stockholders of record on Friday, June 7th were given a dividend of $0.20 per share. The ex-dividend date was Friday, June 7th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.41%. Mueller Industries’s dividend payout ratio (DPR) is presently 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.