AIA Group Ltd Lowers Position in Mueller Industries, Inc. (NYSE:MLI)

AIA Group Ltd reduced its position in shares of Mueller Industries, Inc. (NYSE:MLI) by 26.4% in the 3rd quarter, HoldingsChannel reports. The firm owned 6,383 shares of the industrial products company’s stock after selling 2,290 shares during the period. AIA Group Ltd’s holdings in Mueller Industries were worth $473,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in the company. International Assets Investment Management LLC acquired a new position in Mueller Industries during the 2nd quarter worth approximately $26,000. Federated Hermes Inc. acquired a new position in Mueller Industries during the second quarter worth $28,000. Opal Wealth Advisors LLC acquired a new position in Mueller Industries during the second quarter worth $30,000. GAMMA Investing LLC raised its position in Mueller Industries by 36.0% in the third quarter. GAMMA Investing LLC now owns 552 shares of the industrial products company’s stock worth $41,000 after acquiring an additional 146 shares in the last quarter. Finally, Harbor Capital Advisors Inc. acquired a new stake in Mueller Industries in the third quarter valued at $64,000. Institutional investors and hedge funds own 94.50% of the company’s stock.

Mueller Industries Stock Up 1.0 %

Shares of MLI opened at $94.40 on Friday. Mueller Industries, Inc. has a 52-week low of $37.54 and a 52-week high of $95.84. The company has a 50-day simple moving average of $75.01 and a 200-day simple moving average of $66.01. The company has a market capitalization of $10.74 billion, a PE ratio of 18.33 and a beta of 1.01.

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

Mueller Industries Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Friday, December 6th will be issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 0.85%. Mueller Industries’s dividend payout ratio is presently 15.53%.

Insiders Place Their Bets

In other news, Director John B. Hansen sold 1,000 shares of the firm’s stock in a transaction on Wednesday, October 30th. The stock was sold at an average price of $83.09, for a total value of $83,090.00. Following the completion of the transaction, the director now owns 94,914 shares in the company, valued at $7,886,404.26. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Mueller Industries news, Director John B. Hansen sold 1,000 shares of the company’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 sale, the director now owns 94,914 shares of the company’s stock, valued at $7,886,404.26. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Gregory L. Christopher sold 50,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $69.92, for a total transaction of $3,496,000.00. Following the transaction, the chief executive officer now directly owns 1,214,311 shares of the company’s stock, valued at approximately $84,904,625.12. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 96,000 shares of company stock worth $6,626,940. 2.80% of the stock is owned by corporate insiders.

Mueller Industries Company 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.