Bessemer Group Inc. Has $33.75 Million Stock Position in Mueller Industries, Inc. (NYSE:MLI)

Bessemer Group Inc. increased its holdings in Mueller Industries, Inc. (NYSE:MLI - Free Report) by 78.2% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 443,281 shares of the industrial products company's stock after buying an additional 194,463 shares during the quarter. Bessemer Group Inc. owned about 0.40% of Mueller Industries worth $33,751,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. New Age Alpha Advisors LLC acquired a new position in Mueller Industries during the 4th quarter worth $32,000. Opal Wealth Advisors LLC acquired a new stake in Mueller Industries in the first quarter worth about $40,000. Quarry LP acquired a new stake in Mueller Industries in the fourth quarter worth about $45,000. SBI Securities Co. Ltd. bought a new position in Mueller Industries in the 4th quarter valued at about $47,000. Finally, Point72 Hong Kong Ltd acquired a new position in Mueller Industries during the 4th quarter valued at about $53,000. 94.50% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, Director Terry Hermanson sold 10,000 shares of the business's stock in a transaction that occurred on Tuesday, May 6th. The shares were sold at an average price of $74.34, for a total transaction of $743,400.00. Following the sale, the director now owns 100,082 shares in the company, valued at $7,440,095.88. The trade was a 9.08% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director John B. Hansen sold 3,130 shares of the company's 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 completion of the sale, the director now owns 93,914 shares of the company's stock, valued at approximately $7,331,865.98. This trade represents a 3.23% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 29,613 shares of company stock valued at $2,198,600 over the last three months. Company insiders own 2.70% of the company's stock.

Mueller Industries Stock Performance

Shares of MLI stock traded up $1.36 during midday trading on Friday, reaching $80.64. 192,064 shares of the company were exchanged, compared to its average volume of 968,987. The company's 50 day moving average price is $75.74 and its two-hundred day moving average price is $77.88. The company has a market cap of $8.92 billion, a P/E ratio of 14.67 and a beta of 1.03. Mueller Industries, Inc. has a 12 month low of $55.20 and a 12 month high of $96.81.

Mueller Industries (NYSE:MLI - Get Free Report) last posted its quarterly earnings data on Tuesday, April 22nd. The industrial products company reported $1.39 EPS for the quarter, beating analysts' consensus estimates of $1.31 by $0.08. The business had revenue of $1 billion for the quarter, compared to analyst estimates of $1 billion. Mueller Industries had a net margin of 15.92% and a return on equity of 23.17%.

Mueller Industries Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 20th. Stockholders of record on Friday, June 6th were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.24%. The ex-dividend date of this dividend was Friday, June 6th. Mueller Industries's dividend payout ratio is presently 18.21%.

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.