BNP Paribas Financial Markets Boosts Holdings in Mueller Industries, Inc. (NYSE:MLI)

BNP Paribas Financial Markets raised its stake in Mueller Industries, Inc. (NYSE:MLI) by 9.1% during the third quarter, Holdings Channel reports. The fund owned 74,834 shares of the industrial products company’s stock after buying an additional 6,243 shares during the period. BNP Paribas Financial Markets’ holdings in Mueller Industries were worth $5,545,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of MLI. FMR LLC lifted its position in shares of Mueller Industries by 2.6% during the 3rd quarter. FMR LLC now owns 1,066,658 shares of the industrial products company’s stock valued at $79,039,000 after buying an additional 27,399 shares during the last quarter. Truvestments Capital LLC purchased a new stake in Mueller Industries during the third quarter valued at about $146,000. Harvest Fund Management Co. Ltd bought a new position in Mueller Industries during the third quarter worth about $591,000. Westfield Capital Management Co. LP increased its stake in shares of Mueller Industries by 1.8% in the third quarter. Westfield Capital Management Co. LP now owns 182,648 shares of the industrial products company’s stock worth $13,534,000 after purchasing an additional 3,148 shares in the last quarter. Finally, Algert Global LLC raised its position in shares of Mueller Industries by 89.2% in the third quarter. Algert Global LLC now owns 171,562 shares of the industrial products company’s stock valued at $12,713,000 after purchasing an additional 80,894 shares during the period. 94.50% of the stock is owned by institutional investors.

Insider Activity

In related news, Director Charles P. Herzog, Jr. sold 15,000 shares of the business’s stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $92.04, for a total transaction of $1,380,600.00. Following the completion of 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director John B. Hansen sold 1,000 shares of the firm’s 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 directly owns 94,914 shares in the company, valued at approximately $7,886,404.26. The trade was a 1.04 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 2.80% of the company’s stock.

Mueller Industries Trading Down 2.3 %

Mueller Industries stock opened at $78.87 on Wednesday. The firm has a market capitalization of $8.97 billion, a price-to-earnings ratio of 15.31 and a beta of 0.99. The firm has a 50 day simple moving average of $80.71 and a 200 day simple moving average of $69.37. Mueller Industries, Inc. has a 1-year low of $41.94 and a 1-year high of $96.81.

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

Mueller Industries Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Friday, December 6th will be given a dividend of $0.20 per share. The ex-dividend date is Friday, December 6th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.01%. Mueller Industries’s dividend payout ratio (DPR) 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.