Mueller Industries, Inc. (NYSE:MLI) Shares Sold by BNP Paribas Financial Markets

BNP Paribas Financial Markets lessened its stake in shares of Mueller Industries, Inc. (NYSE:MLI) by 33.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 49,621 shares of the industrial products company’s stock after selling 25,213 shares during the quarter. BNP Paribas Financial Markets’ holdings in Mueller Industries were worth $3,938,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in MLI. New Age Alpha Advisors LLC acquired a new position in Mueller Industries in the fourth quarter worth approximately $32,000. Quarry LP acquired a new position in Mueller Industries in the fourth quarter worth approximately $45,000. SBI Securities Co. Ltd. acquired a new position in Mueller Industries in the fourth quarter worth approximately $47,000. Mirae Asset Global Investments Co. Ltd. acquired a new position in Mueller Industries in the fourth quarter worth approximately $53,000. Finally, R Squared Ltd acquired a new position in Mueller Industries in the fourth quarter worth approximately $69,000. Institutional investors and hedge funds own 94.50% of the company’s stock.

Insiders Place Their Bets

In other Mueller Industries news, Director John B. Hansen sold 3,130 shares of Mueller Industries stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $78.07, for a total transaction of $244,359.10. Following the transaction, the director now directly owns 93,914 shares in the company, valued at approximately $7,331,865.98. The trade was a 3.23% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Terry Hermanson sold 10,000 shares of Mueller Industries stock in a transaction that occurred on Tuesday, May 6th. The stock was sold at an average price of $74.34, for a total transaction of $743,400.00. Following the transaction, the director now owns 100,082 shares in the company, valued at approximately $7,440,095.88. The trade was a 9.08% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 29,613 shares of company stock worth $2,198,600. Corporate insiders own 2.70% of the company’s stock.

Mueller Industries Stock Performance

Mueller Industries stock opened at $79.16 on Thursday. The firm has a market cap of $8.76 billion, a price-to-earnings ratio of 14.91 and a beta of 1.03. Mueller Industries, Inc. has a 1 year low of $53.53 and a 1 year high of $96.81. The firm’s 50 day moving average price is $75.37 and its two-hundred day moving average price is $79.76.

Mueller Industries (NYSE:MLI) last posted its quarterly earnings results on Tuesday, April 22nd. The industrial products company reported $1.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.31 by $0.08. The firm had revenue of $1 billion for 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 Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 20th. Shareholders of record on Friday, June 6th will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 1.26%. The ex-dividend date of this dividend is Friday, June 6th. Mueller Industries’s payout ratio is 18.21%.

About Mueller Industries

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.