KBC Group NV Buys 318 Shares of Mueller Industries, Inc. (NYSE:MLI)

KBC Group NV lifted its stake in Mueller Industries, Inc. (NYSE:MLI) by 12.9% in the third quarter, Holdings Channel.com reports. The fund owned 2,784 shares of the industrial products company’s stock after purchasing an additional 318 shares during the period. KBC Group NV’s holdings in Mueller Industries were worth $206,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently made changes to their positions in the stock. GAMMA Investing LLC boosted its stake in Mueller Industries by 36.0% during the third quarter. GAMMA Investing LLC now owns 552 shares of the industrial products company’s stock valued at $41,000 after buying an additional 146 shares during the period. Miller Howard Investments Inc. NY boosted its stake in Mueller Industries by 2.1% during the second quarter. Miller Howard Investments Inc. NY now owns 7,188 shares of the industrial products company’s stock valued at $409,000 after buying an additional 151 shares during the period. Kapitalo Investimentos Ltda boosted its stake in Mueller Industries by 3.5% during the third quarter. Kapitalo Investimentos Ltda now owns 4,582 shares of the industrial products company’s stock valued at $340,000 after buying an additional 156 shares during the period. Summit Global Investments boosted its stake in Mueller Industries by 1.6% during the second quarter. Summit Global Investments now owns 12,844 shares of the industrial products company’s stock valued at $731,000 after buying an additional 204 shares during the period. Finally, Hsbc Holdings PLC boosted its stake in Mueller Industries by 1.8% during the second quarter. Hsbc Holdings PLC now owns 13,188 shares of the industrial products company’s stock valued at $757,000 after buying an additional 233 shares during the period. 94.50% of the stock is owned by institutional investors.

Mueller Industries Stock Up 0.4 %

Shares of MLI stock opened at $91.03 on Thursday. The business has a 50-day moving average price of $78.77 and a two-hundred day moving average price of $67.92. Mueller Industries, Inc. has a 12-month low of $40.43 and a 12-month high of $96.81. The firm has a market cap of $10.35 billion, a P/E ratio of 17.68 and a beta of 1.01.

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, topping the consensus estimate of $1.32 by $0.16. The firm had revenue of $997.80 million for the quarter, compared to the consensus estimate of $936.00 million. Mueller Industries had a return on equity of 23.25% and a net margin of 16.39%. The company’s quarterly revenue was up 21.7% on a year-over-year basis.

Mueller Industries Dividend Announcement

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 given a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 0.88%. The ex-dividend date is Friday, December 6th. Mueller Industries’s dividend payout ratio is currently 15.53%.

Insider Transactions at Mueller Industries

In other Mueller Industries news, Director John B. Hansen sold 1,000 shares of Mueller Industries stock in a transaction on Wednesday, October 30th. The stock was 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 of the company’s stock, valued at approximately $7,886,404.26. This trade represents a 1.04 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 2.80% of the company’s stock.

Mueller Industries Company 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.