BNP Paribas Financial Markets Buys 6,243 Shares of Mueller Industries, Inc. (NYSE:MLI)

BNP Paribas Financial Markets increased its stake in Mueller Industries, Inc. (NYSE:MLI) by 9.1% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 74,834 shares of the industrial products company’s stock after acquiring an additional 6,243 shares during the quarter. BNP Paribas Financial Markets owned about 0.07% of Mueller Industries worth $5,545,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in MLI. LSV Asset Management boosted its position in shares of Mueller Industries by 44.1% during the 2nd quarter. LSV Asset Management now owns 2,094,682 shares of the industrial products company’s stock valued at $119,271,000 after purchasing an additional 641,114 shares in the last quarter. Fiera Capital Corp bought a new position in Mueller Industries during the third quarter worth $35,552,000. Charles Schwab Investment Management Inc. grew its holdings in Mueller Industries by 27.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,469,736 shares of the industrial products company’s stock worth $108,907,000 after purchasing an additional 315,490 shares during the period. F M Investments LLC bought a new stake in Mueller Industries in the second quarter valued at $14,441,000. Finally, Massachusetts Financial Services Co. MA raised its holdings in shares of Mueller Industries by 1,124.4% during the second quarter. Massachusetts Financial Services Co. MA now owns 98,920 shares of the industrial products company’s stock valued at $5,633,000 after purchasing an additional 90,841 shares during the period. Institutional investors and hedge funds own 94.50% of the company’s stock.

Insider Transactions at Mueller Industries

In other news, Director John B. Hansen sold 1,000 shares of the stock in a transaction dated Wednesday, October 30th. The shares were sold at an average price of $83.09, for a total value of $83,090.00. Following the completion of the sale, the director now owns 94,914 shares in the company, valued at $7,886,404.26. This represents a 1.04 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Charles P. Herzog, Jr. sold 15,000 shares of the firm’s stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $92.04, for a total transaction of $1,380,600.00. Following the transaction, the director now directly owns 17,733 shares in the company, valued at $1,632,145.32. The trade was a 45.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.80% of the stock is currently owned by insiders.

Mueller Industries Price Performance

Shares of MLI opened at $78.87 on Wednesday. The stock has a 50-day moving average of $80.71 and a 200-day moving average of $69.37. Mueller Industries, Inc. has a one year low of $41.94 and a one year high of $96.81. The company has a market cap of $8.97 billion, a PE ratio of 15.31 and a beta of 0.99.

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

Mueller Industries Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Friday, December 6th will be issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.01%. The ex-dividend date of this dividend is Friday, December 6th. Mueller Industries’s dividend payout ratio is currently 15.53%.

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.