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

AIA Group Ltd increased its holdings in Mueller Industries, Inc. (NYSE:MLI) by 129.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 23,814 shares of the industrial products company’s stock after acquiring an additional 13,426 shares during the quarter. AIA Group Ltd’s holdings in Mueller Industries were worth $1,123,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the company. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Mueller Industries by 140.2% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 23,615 shares of the industrial products company’s stock valued at $1,113,000 after buying an additional 13,782 shares during the last quarter. Everence Capital Management Inc. lifted its position in shares of Mueller Industries by 100.0% during the fourth quarter. Everence Capital Management Inc. now owns 17,000 shares of the industrial products company’s stock valued at $802,000 after buying an additional 8,500 shares during the last quarter. Mackenzie Financial Corp lifted its position in shares of Mueller Industries by 100.0% during the fourth quarter. Mackenzie Financial Corp now owns 9,978 shares of the industrial products company’s stock valued at $470,000 after buying an additional 4,989 shares during the last quarter. Strs Ohio lifted its position in shares of Mueller Industries by 82.3% during the fourth quarter. Strs Ohio now owns 33,900 shares of the industrial products company’s stock valued at $1,598,000 after buying an additional 15,300 shares during the last quarter. Finally, Freedom Day Solutions LLC raised its position in shares of Mueller Industries by 99.1% in the 4th quarter. Freedom Day Solutions LLC now owns 43,310 shares of the industrial products company’s stock valued at $2,042,000 after purchasing an additional 21,555 shares during the last quarter. 94.50% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CFO Jeffrey Andrew Martin sold 47,280 shares of the stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $49.25, for a total value of $2,328,540.00. Following the transaction, the chief financial officer now owns 370,840 shares in the company, valued at approximately $18,263,870. The sale was disclosed in a filing with the SEC, which is available through this link. In other news, Director John B. Hansen sold 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $49.33, for a total transaction of $246,650.00. Following the sale, the director now owns 18,000 shares of the company’s stock, valued at approximately $887,940. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Jeffrey Andrew Martin sold 47,280 shares of the firm’s stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $49.25, for a total transaction of $2,328,540.00. Following the sale, the chief financial officer now directly owns 370,840 shares in the company, valued at approximately $18,263,870. The disclosure for this sale can be found here. 2.80% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on MLI. StockNews.com lowered shares of Mueller Industries from a “buy” rating to a “hold” rating in a research report on Monday, January 22nd. Northcoast Research reaffirmed a “neutral” rating on shares of Mueller Industries in a research report on Friday, January 19th.

Mueller Industries Trading Down 0.1 %

Shares of NYSE:MLI opened at $52.28 on Friday. Mueller Industries, Inc. has a twelve month low of $34.01 and a twelve month high of $54.64. The company’s 50 day moving average is $51.70 and its 200 day moving average is $46.30. The company has a market cap of $5.94 billion, a PE ratio of 9.84 and a beta of 1.08.

Mueller Industries (NYSE:MLI) last issued its quarterly earnings results on Tuesday, February 6th. The industrial products company reported $1.05 earnings per share for the quarter. Mueller Industries had a net margin of 17.63% and a return on equity of 27.59%. The company had revenue of $732.38 million for the quarter.

Mueller Industries Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 15th were issued a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 1.53%. The ex-dividend date was Thursday, March 14th. This is an increase from Mueller Industries’s previous quarterly dividend of $0.15. Mueller Industries’s dividend payout ratio is 15.05%.

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.