KBC Group NV Sells 9,459 Shares of Mueller Industries, Inc. $MLI

Key Points

• KBC Group NV cut its stake in Mueller Industries by 51.1% in Q4, selling 9,459 shares and leaving it with 9,063 shares worth about $1.04 million per its SEC filing.
• Company insiders also sold shares: Director Scott Jay Goldman sold 4,430 shares at an average of $118.97 (~$527k) and Director John B. Hansen sold 1,000 shares at $116.71 (~$116.7k), modestly reducing their holdings.
• Mueller raised its quarterly dividend to $0.35 (annualized $1.40), reflecting a 1.2% yield and a dividend payout ratio of about 20.4%.

KBC Group NV lowered its holdings in shares of Mueller Industries, Inc. (NYSE:MLI - Free Report) by 51.1% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 9,063 shares of the industrial products company's stock after selling 9,459 shares during the period. KBC Group NV's holdings in Mueller Industries were worth $1,040,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of MLI. Savant Capital LLC raised its stake in Mueller Industries by 239.2% during the third quarter. Savant Capital LLC now owns 14,145 shares of the industrial products company's stock worth $1,430,000 after buying an additional 9,975 shares during the last quarter. Ballast Asset Management LP bought a new position in Mueller Industries during the third quarter worth $3,057,000. Ariose Capital Management Ltd bought a new position in Mueller Industries during the third quarter worth $3,904,000. Riggs Asset Managment Co. Inc. bought a new position in Mueller Industries during the third quarter worth $7,158,000. Finally, Lecap Asset Management Ltd. bought a new position in Mueller Industries during the third quarter worth $1,503,000. Institutional investors own 94.50% of the company's stock.

Analyst Upgrades and Downgrades

MLI has been the subject of a number of analyst reports. Weiss Ratings reissued a "buy (b)" rating on shares of Mueller Industries in a research note on Thursday, January 22nd. Wall Street Zen lowered shares of Mueller Industries from a "buy" rating to a "hold" rating in a research note on Saturday, February 7th. One research analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock has an average rating of "Buy".

Insiders Place Their Bets

In related news, Director Scott Jay Goldman sold 4,430 shares of the stock in a transaction on Friday, February 13th. The stock was sold at an average price of $118.97, for a total value of $527,037.10. Following the transaction, the director directly owned 41,645 shares in the company, valued at $4,954,505.65. This trade represents a 9.61% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director John B. Hansen sold 1,000 shares of the stock in a transaction on Monday, February 9th. The stock was sold at an average price of $116.71, for a total value of $116,710.00. Following the completion of the transaction, the director owned 90,664 shares in the company, valued at approximately $10,581,395.44. This represents a 1.09% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 2.30% of the stock is owned by company insiders.

Mueller Industries Stock Down 1.2%

NYSE:MLI opened at $120.72 on Tuesday. The company has a fifty day moving average of $115.73 and a 200-day moving average of $114.39. The firm has a market capitalization of $13.35 billion, a P/E ratio of 17.57 and a beta of 1.07. Mueller Industries, Inc. has a twelve month low of $67.91 and a twelve month high of $139.29.

Mueller Industries Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 27th. Investors of record on Friday, March 13th were issued a $0.35 dividend. The ex-dividend date was Friday, March 13th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.2%. This is an increase from Mueller Industries's previous quarterly dividend of $0.25. Mueller Industries's dividend payout ratio (DPR) is 20.38%.

Mueller Industries Profile

Mueller Industries, Inc is a diversified manufacturer and marketer of copper, brass, aluminum and plastic products. Headquartered in Memphis, Tennessee, the company serves a wide range of markets including HVAC (heating, ventilation and air conditioning), refrigeration, plumbing, industrial gas, automotive and agricultural sectors. Its product portfolio encompasses copper and plastic tubing, brass fittings, valves and related components designed for fluid handling and temperature control applications.

The company operates through multiple business segments, including the Plumbing & Refrigeration segment, which supplies copper and plastic tubing, fittings and valves for residential and commercial construction markets; the Industrial Metals & Mining segment, which provides aluminum shapes and specialty brass products for industrial applications; and the Climate segment, which focuses on copper tubing and components for air conditioning and refrigeration systems.

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