Bessemer Group Inc. lessened its holdings in shares of Mueller Industries, Inc. (NYSE:MLI - Free Report) by 15.4% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 248,818 shares of the industrial products company's stock after selling 45,216 shares during the quarter. Bessemer Group Inc. owned 0.22% of Mueller Industries worth $19,745,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently bought and sold shares of MLI. Invesco Ltd. grew its position in shares of Mueller Industries by 50.3% during the fourth quarter. Invesco Ltd. now owns 2,788,607 shares of the industrial products company's stock worth $221,304,000 after buying an additional 933,498 shares in the last quarter. Geode Capital Management LLC boosted its stake in Mueller Industries by 4.5% during the 4th quarter. Geode Capital Management LLC now owns 2,705,588 shares of the industrial products company's stock valued at $214,763,000 after acquiring an additional 117,327 shares during the last quarter. William Blair Investment Management LLC acquired a new position in Mueller Industries during the 4th quarter worth $201,376,000. FMR LLC increased its position in shares of Mueller Industries by 79.2% in the 4th quarter. FMR LLC now owns 1,911,689 shares of the industrial products company's stock worth $151,712,000 after purchasing an additional 845,031 shares during the last quarter. Finally, Norges Bank acquired a new stake in shares of Mueller Industries in the 4th quarter valued at about $117,351,000. 94.50% of the stock is currently owned by hedge funds and other institutional investors.
Mueller Industries Price Performance
NYSE:MLI traded down $0.10 during mid-day trading on Tuesday, reaching $73.64. The stock had a trading volume of 710,433 shares, compared to its average volume of 858,872. The company has a market capitalization of $8.16 billion, a price-to-earnings ratio of 13.87 and a beta of 0.96. Mueller Industries, Inc. has a 1-year low of $50.85 and a 1-year high of $96.81. The stock's 50 day simple moving average is $78.27 and its two-hundred day simple moving average is $79.95.
Mueller Industries (NYSE:MLI - Get Free Report) last issued its earnings results on Tuesday, February 4th. The industrial products company reported $1.21 EPS for the quarter, topping the consensus estimate of $1.12 by $0.09. Mueller Industries had a return on equity of 22.97% and a net margin of 16.05%.
Mueller Industries Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Friday, March 14th were paid a dividend of $0.25 per share. This is a positive change from Mueller Industries's previous quarterly dividend of $0.20. The ex-dividend date of this dividend was Friday, March 14th. This represents a $1.00 annualized dividend and a yield of 1.36%. Mueller Industries's payout ratio is presently 18.83%.
Insiders Place Their Bets
In related news, Director Scott Jay Goldman sold 10,000 shares of the business's stock in a transaction dated Thursday, February 13th. The shares were sold at an average price of $79.81, for a total transaction of $798,100.00. Following the completion of the sale, the director now owns 56,098 shares of the company's stock, valued at $4,477,181.38. This represents a 15.13 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 2.80% of the stock is owned by corporate insiders.
Mueller Industries Profile
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Free Report)
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.
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