Mueller Industries, Inc. (NYSE:MLI) Shares Purchased by BI Asset Management Fondsmaeglerselskab A S

BI Asset Management Fondsmaeglerselskab A S boosted its holdings in shares of Mueller Industries, Inc. (NYSE:MLI - Free Report) by 158.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 77,762 shares of the industrial products company's stock after acquiring an additional 47,706 shares during the period. BI Asset Management Fondsmaeglerselskab A S owned about 0.07% of Mueller Industries worth $6,171,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also added to or reduced their stakes in the company. Flagship Harbor Advisors LLC purchased a new position in Mueller Industries during the fourth quarter valued at approximately $300,000. Merit Financial Group LLC purchased a new position in shares of Mueller Industries in the 4th quarter valued at $287,000. Rhumbline Advisers increased its holdings in shares of Mueller Industries by 13.7% in the 4th quarter. Rhumbline Advisers now owns 364,095 shares of the industrial products company's stock valued at $28,895,000 after acquiring an additional 43,893 shares during the period. US Bancorp DE lifted its stake in shares of Mueller Industries by 3.0% during the 4th quarter. US Bancorp DE now owns 18,278 shares of the industrial products company's stock worth $1,451,000 after purchasing an additional 537 shares during the last quarter. Finally, Congress Asset Management Co. lifted its stake in shares of Mueller Industries by 6.5% during the 4th quarter. Congress Asset Management Co. now owns 202,636 shares of the industrial products company's stock worth $16,081,000 after purchasing an additional 12,450 shares during the last quarter. Hedge funds and other institutional investors own 94.50% of the company's stock.

Mueller Industries Stock Performance

MLI traded up $2.06 on Wednesday, hitting $72.34. The company had a trading volume of 1,150,578 shares, compared to its average volume of 931,619. The stock has a market capitalization of $8.01 billion, a price-to-earnings ratio of 13.62 and a beta of 0.96. The stock has a fifty day moving average price of $76.93 and a 200-day moving average price of $79.77. Mueller Industries, Inc. has a 12-month low of $53.53 and a 12-month high of $96.81.

Mueller Industries (NYSE:MLI - Get Free Report) last posted its quarterly earnings data on Tuesday, April 22nd. The industrial products company reported $1.39 EPS for the quarter, topping the consensus estimate of $1.31 by $0.08. The firm had revenue of $1 billion during the quarter, compared to analyst estimates of $1 billion. Mueller Industries had a net margin of 16.05% and a return on equity of 22.97%.

Mueller Industries Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Friday, March 14th were paid a $0.25 dividend. The ex-dividend date was Friday, March 14th. This is a boost from Mueller Industries's previous quarterly dividend of $0.20. This represents a $1.00 dividend on an annualized basis and a yield of 1.38%. Mueller Industries's dividend payout ratio (DPR) is 18.83%.

Insider Activity

In other Mueller Industries news, Director Scott Jay Goldman sold 10,000 shares of Mueller Industries stock in a transaction that occurred on 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 directly owns 56,098 shares in the company, valued at approximately $4,477,181.38. The trade was a 15.13 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Corporate insiders own 2.70% of the company's stock.

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.