KBC Group NV Raises Holdings in Mueller Industries, Inc. (NYSE:MLI)

KBC Group NV lifted its holdings in shares of Mueller Industries, Inc. (NYSE:MLI - Free Report) by 391.3% in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 20,575 shares of the industrial products company's stock after buying an additional 16,387 shares during the period. KBC Group NV's holdings in Mueller Industries were worth $1,567,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. Golden State Wealth Management LLC increased its position in shares of Mueller Industries by 103.1% during the first quarter. Golden State Wealth Management LLC now owns 331 shares of the industrial products company's stock worth $25,000 after buying an additional 168 shares during the period. New Age Alpha Advisors LLC acquired a new position in Mueller Industries during the 4th quarter valued at about $32,000. Opal Wealth Advisors LLC purchased a new position in Mueller Industries during the 1st quarter worth $40,000. Quarry LP purchased a new position in shares of Mueller Industries in the 4th quarter worth approximately $45,000. Finally, SBI Securities Co. Ltd. purchased a new stake in shares of Mueller Industries during the 4th quarter valued at approximately $47,000. 94.50% of the stock is currently owned by institutional investors and hedge funds.

Mueller Industries Price Performance

Shares of NYSE:MLI traded down $0.54 during trading on Monday, hitting $82.10. 778,964 shares of the company were exchanged, compared to its average volume of 1,038,071. Mueller Industries, Inc. has a 52-week low of $55.72 and a 52-week high of $96.81. The company has a market cap of $9.08 billion, a PE ratio of 14.95 and a beta of 1.01. The stock has a 50 day moving average of $77.19 and a 200 day moving average of $77.85.

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

Mueller Industries Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 20th. Stockholders of record on Friday, June 6th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, June 6th. This represents a $1.00 annualized dividend and a dividend yield of 1.22%. Mueller Industries's dividend payout ratio (DPR) is presently 18.21%.

Insider Activity

In other news, Director John B. Hansen sold 3,130 shares of the stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $78.07, for a total transaction of $244,359.10. Following the transaction, the director directly owned 93,914 shares in the company, valued at approximately $7,331,865.98. This represents a 3.23% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Terry Hermanson sold 10,000 shares of the stock in a transaction dated Tuesday, May 6th. The shares were sold at an average price of $74.34, for a total value of $743,400.00. Following the transaction, the director owned 100,082 shares in the company, valued at $7,440,095.88. This trade represents a 9.08% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 29,613 shares of company stock worth $2,198,600. 2.70% of the stock is currently owned by insiders.

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.