Hsbc Holdings PLC Grows Position in Mueller Industries, Inc. (NYSE:MLI)

Hsbc Holdings PLC increased its holdings in shares of Mueller Industries, Inc. (NYSE:MLI - Free Report) by 72.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 24,050 shares of the industrial products company's stock after buying an additional 10,138 shares during the period. Hsbc Holdings PLC's holdings in Mueller Industries were worth $1,920,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. First Trust Advisors LP lifted its position in shares of Mueller Industries by 5.6% during the 4th quarter. First Trust Advisors LP now owns 6,214,930 shares of the industrial products company's stock valued at $493,217,000 after buying an additional 327,479 shares in the last quarter. Invesco Ltd. lifted its position in shares of Mueller Industries by 50.3% during the 4th quarter. Invesco Ltd. now owns 2,788,607 shares of the industrial products company's stock valued at $221,304,000 after buying an additional 933,498 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Mueller Industries by 4.5% during the 4th quarter. Geode Capital Management LLC now owns 2,705,588 shares of the industrial products company's stock valued at $214,763,000 after buying an additional 117,327 shares in the last quarter. William Blair Investment Management LLC purchased a new position in shares of Mueller Industries during the 4th quarter valued at approximately $201,376,000. Finally, FMR LLC lifted its position in shares of Mueller Industries by 79.2% during the 4th quarter. FMR LLC now owns 1,911,689 shares of the industrial products company's stock valued at $151,712,000 after buying an additional 845,031 shares in the last quarter. Hedge funds and other institutional investors own 94.50% of the company's stock.

Insider Buying and Selling at Mueller Industries

In other Mueller Industries news, Director Scott Jay Goldman sold 16,483 shares of the firm's stock in a transaction on Tuesday, April 29th. The stock was sold at an average price of $73.46, for a total value of $1,210,841.18. Following the transaction, the director now owns 39,615 shares in the company, valued at approximately $2,910,117.90. This trade represents a 29.38 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 2.70% of the stock is currently owned by insiders.

Mueller Industries Price Performance

Shares of NYSE:MLI opened at $73.54 on Friday. The business's 50 day moving average price is $76.05 and its 200-day moving average price is $79.82. The firm has a market capitalization of $8.14 billion, a price-to-earnings ratio of 13.85 and a beta of 0.96. Mueller Industries, Inc. has a 1 year low of $53.53 and a 1 year high of $96.81.

Mueller Industries (NYSE:MLI - Get Free Report) last announced its quarterly earnings data on Tuesday, April 22nd. The industrial products company reported $1.39 earnings per share 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 22.97% and a net margin of 16.05%.

Mueller Industries Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Friday, March 14th were issued a $0.25 dividend. The ex-dividend date was Friday, March 14th. This represents a $1.00 dividend on an annualized basis and a yield of 1.36%. This is a positive change from Mueller Industries's previous quarterly dividend of $0.20. Mueller Industries's dividend payout ratio (DPR) 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.

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