AIA Group Ltd Has $646,000 Stake in Mueller Industries, Inc. (NYSE:MLI)

AIA Group Ltd trimmed its position in shares of Mueller Industries, Inc. (NYSE:MLI) by 49.7% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 11,978 shares of the industrial products company’s stock after selling 11,836 shares during the period. AIA Group Ltd’s holdings in Mueller Industries were worth $646,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in MLI. TD Asset Management Inc increased its holdings in shares of Mueller Industries by 91.2% in the fourth quarter. TD Asset Management Inc now owns 89,300 shares of the industrial products company’s stock valued at $4,210,000 after purchasing an additional 42,600 shares during the last quarter. Cary Street Partners Investment Advisory LLC increased its holdings in shares of Mueller Industries by 100.1% in the fourth quarter. Cary Street Partners Investment Advisory LLC now owns 194,186 shares of the industrial products company’s stock valued at $9,156,000 after purchasing an additional 97,140 shares during the last quarter. BNP Paribas Financial Markets increased its holdings in shares of Mueller Industries by 117.8% in the fourth quarter. BNP Paribas Financial Markets now owns 116,167 shares of the industrial products company’s stock valued at $5,477,000 after purchasing an additional 62,834 shares during the last quarter. Congress Asset Management Co. MA increased its holdings in shares of Mueller Industries by 100.5% in the fourth quarter. Congress Asset Management Co. MA now owns 200,898 shares of the industrial products company’s stock valued at $9,472,000 after purchasing an additional 100,696 shares during the last quarter. Finally, F&V Capital Management LLC increased its holdings in shares of Mueller Industries by 100.0% in the fourth quarter. F&V Capital Management LLC now owns 164,890 shares of the industrial products company’s stock valued at $7,775,000 after purchasing an additional 82,445 shares during the last quarter. 94.50% of the stock is currently owned by institutional investors and hedge funds.

Mueller Industries Trading Up 1.0 %

Shares of NYSE:MLI traded up $0.60 on Friday, hitting $59.90. The company had a trading volume of 548,765 shares, compared to its average volume of 670,888. Mueller Industries, Inc. has a 1-year low of $34.96 and a 1-year high of $60.87. The stock has a market cap of $6.80 billion, a price-to-earnings ratio of 12.00 and a beta of 1.06. The stock has a 50 day moving average price of $57.16 and a 200 day moving average price of $52.90.

Mueller Industries (NYSE:MLI) last released its quarterly earnings results on Tuesday, April 23rd. The industrial products company reported $1.21 EPS for the quarter. Mueller Industries had a net margin of 17.22% and a return on equity of 24.69%. The business had revenue of $849.65 million for the quarter.

Mueller Industries Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 21st. Investors of record on Friday, June 7th were paid a $0.20 dividend. The ex-dividend date of this dividend was Friday, June 7th. This represents a $0.80 annualized dividend and a dividend yield of 1.34%. Mueller Industries’s dividend payout ratio (DPR) is presently 16.03%.

Insider Activity at Mueller Industries

In related news, Director Elizabeth M. Donovan sold 2,000 shares of the company’s stock in a transaction dated Thursday, May 30th. The shares were sold at an average price of $57.73, for a total value of $115,460.00. Following the transaction, the director now directly owns 24,733 shares in the company, valued at $1,427,836.09. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Director Elizabeth M. Donovan sold 2,000 shares of the company’s stock in a transaction dated Thursday, May 30th. The shares were sold at an average price of $57.73, for a total transaction of $115,460.00. Following the completion of the sale, the director now owns 24,733 shares of the company’s stock, valued at $1,427,836.09. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director John B. Hansen sold 4,000 shares of the company’s stock in a transaction dated Thursday, April 25th. The stock was sold at an average price of $57.29, for a total transaction of $229,160.00. Following the sale, the director now directly owns 104,214 shares of the company’s stock, valued at approximately $5,970,420.06. The disclosure for this sale can be found here. Over the last three months, insiders have sold 61,169 shares of company stock worth $3,506,762. Corporate insiders own 2.80% of the company’s stock.

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.