BI Asset Management Fondsmaeglerselskab A S Sells 62,814 Shares of Mueller Industries, Inc. $MLI

Key Points

• BI Asset Management Fondsmaeglerselskab A S has significantly reduced its stake in Mueller Industries, Inc., selling 62,814 shares to lower its holdings by 80.8% during the first quarter.
• Mueller Industries reported a quarterly earnings per share of $1.96, exceeding analysts' expectations and showcasing a 14.1% year-over-year revenue growth.
• The company declared a quarterly dividend of $0.25 per share, reflecting a 1.1% annual yield and a payout ratio of 15.87%.

BI Asset Management Fondsmaeglerselskab A S lowered its holdings in shares of Mueller Industries, Inc. (NYSE:MLI - Free Report) by 80.8% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 14,948 shares of the industrial products company's stock after selling 62,814 shares during the period. BI Asset Management Fondsmaeglerselskab A S's holdings in Mueller Industries were worth $1,138,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Golden State Wealth Management LLC grew its holdings in shares of Mueller Industries by 103.1% during the 1st quarter. Golden State Wealth Management LLC now owns 331 shares of the industrial products company's stock valued at $25,000 after purchasing an additional 168 shares during the last quarter. Brooklyn Investment Group grew its holdings in Mueller Industries by 267.3% in the 1st quarter. Brooklyn Investment Group now owns 382 shares of the industrial products company's stock worth $29,000 after acquiring an additional 278 shares during the last quarter. Wayfinding Financial LLC bought a new stake in Mueller Industries in the 1st quarter worth $34,000. Opal Wealth Advisors LLC bought a new stake in Mueller Industries in the 1st quarter worth $40,000. Finally, Quarry LP bought a new stake in Mueller Industries in the 4th quarter worth $45,000. Institutional investors own 94.50% of the company's stock.

Insider Transactions at Mueller Industries

In other Mueller Industries news, Director John B. Hansen sold 1,000 shares of the firm's stock in a transaction on Tuesday, August 12th. The shares were sold at an average price of $91.97, for a total value of $91,970.00. Following the sale, the director owned 92,664 shares of the company's stock, valued at $8,522,308.08. This trade represents a 1.07% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 2.70% of the stock is currently owned by company insiders.

Mueller Industries Stock Up 3.9%

Shares of Mueller Industries stock opened at $94.2090 on Friday. The firm has a market cap of $10.43 billion, a PE ratio of 14.95 and a beta of 1.02. Mueller Industries, Inc. has a 12-month low of $65.24 and a 12-month high of $96.81. The company's fifty day simple moving average is $84.81 and its two-hundred day simple moving average is $79.71.

Mueller Industries (NYSE:MLI - Get Free Report) last announced its quarterly earnings results on Tuesday, July 22nd. The industrial products company reported $1.96 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.62 by $0.34. The business had revenue of $1.14 billion for the quarter, compared to analyst estimates of $1.12 billion. Mueller Industries had a net margin of 17.48% and a return on equity of 24.47%. The company's revenue for the quarter was up 14.1% on a year-over-year basis.

Mueller Industries Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, September 19th. Shareholders of record on Friday, September 5th will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date of this dividend is Friday, September 5th. Mueller Industries's dividend payout ratio (DPR) is 15.87%.

Mueller Industries 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.

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