AIA Group Ltd Decreases Stock Position in Mueller Industries, Inc. (NYSE:MLI)

AIA Group Ltd decreased its stake in shares of Mueller Industries, Inc. (NYSE:MLI) by 26.4% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,383 shares of the industrial products company’s stock after selling 2,290 shares during the quarter. AIA Group Ltd’s holdings in Mueller Industries were worth $473,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of MLI. International Assets Investment Management LLC acquired a new position in shares of Mueller Industries during the second quarter worth $26,000. Federated Hermes Inc. purchased a new stake in Mueller Industries during the 2nd quarter worth about $28,000. Opal Wealth Advisors LLC acquired a new position in shares of Mueller Industries during the 2nd quarter worth about $30,000. GAMMA Investing LLC increased its holdings in shares of Mueller Industries by 36.0% in the 3rd quarter. GAMMA Investing LLC now owns 552 shares of the industrial products company’s stock valued at $41,000 after acquiring an additional 146 shares during the last quarter. Finally, Harbor Capital Advisors Inc. acquired a new stake in shares of Mueller Industries during the 3rd quarter worth about $64,000. Institutional investors and hedge funds own 94.50% of the company’s stock.

Mueller Industries Stock Up 1.0 %

Shares of MLI opened at $94.40 on Friday. Mueller Industries, Inc. has a 52-week low of $37.54 and a 52-week high of $95.84. The stock has a 50 day moving average price of $75.01 and a 200 day moving average price of $66.01. The company has a market capitalization of $10.74 billion, a price-to-earnings ratio of 18.33 and a beta of 1.01.

Mueller Industries (NYSE:MLI) last posted its earnings results on Tuesday, October 22nd. The industrial products company reported $1.48 EPS for the quarter, beating analysts’ consensus estimates of $1.32 by $0.16. Mueller Industries had a net margin of 16.39% and a return on equity of 23.25%. The firm had revenue of $997.80 million for the quarter, compared to the consensus estimate of $936.00 million. The firm’s revenue for the quarter was up 21.7% compared to the same quarter last year.

Mueller Industries Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Friday, December 6th will be issued a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 0.85%. Mueller Industries’s payout ratio is currently 15.53%.

Insider Activity at Mueller Industries

In other Mueller Industries news, CEO Gregory L. Christopher sold 45,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 14th. The stock was sold at an average price of $67.73, for a total value of $3,047,850.00. Following the completion of the sale, the chief executive officer now owns 1,264,311 shares in the company, valued at approximately $85,631,784.03. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director John B. Hansen sold 1,000 shares of the business’s stock in a transaction dated Wednesday, October 30th. The stock was sold at an average price of $83.09, for a total value of $83,090.00. Following the transaction, the director now owns 94,914 shares in the company, valued at $7,886,404.26. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Gregory L. Christopher sold 45,000 shares of the stock in a transaction that occurred on Wednesday, August 14th. The stock was sold at an average price of $67.73, for a total value of $3,047,850.00. Following the sale, the chief executive officer now directly owns 1,264,311 shares of the company’s stock, valued at $85,631,784.03. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 96,000 shares of company stock valued at $6,626,940 in the last three months. 2.80% of the stock is currently owned by company 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.