BNP Paribas Financial Markets Reduces Position in Mueller Industries, Inc. (NYSE:MLI)

BNP Paribas Financial Markets trimmed its position in Mueller Industries, Inc. (NYSE:MLI - Free Report) by 33.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 49,621 shares of the industrial products company's stock after selling 25,213 shares during the period. BNP Paribas Financial Markets' holdings in Mueller Industries were worth $3,938,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Barclays PLC increased its position in Mueller Industries by 343.9% during the third quarter. Barclays PLC now owns 197,206 shares of the industrial products company's stock worth $14,613,000 after buying an additional 152,780 shares during the last quarter. Franklin Resources Inc. boosted its holdings in shares of Mueller Industries by 6.7% in the 3rd quarter. Franklin Resources Inc. now owns 69,102 shares of the industrial products company's stock valued at $5,073,000 after purchasing an additional 4,360 shares in the last quarter. Assenagon Asset Management S.A. acquired a new stake in shares of Mueller Industries in the 4th quarter valued at $2,268,000. Park Avenue Securities LLC lifted its stake in shares of Mueller Industries by 19.1% in the 4th quarter. Park Avenue Securities LLC now owns 4,071 shares of the industrial products company's stock valued at $323,000 after acquiring an additional 652 shares during the last quarter. Finally, Advisors Management Group Inc. ADV lifted its stake in shares of Mueller Industries by 26.1% in the 4th quarter. Advisors Management Group Inc. ADV now owns 30,322 shares of the industrial products company's stock valued at $2,406,000 after acquiring an additional 6,280 shares during the last quarter. 94.50% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Mueller Industries news, Director Scott Jay Goldman sold 16,483 shares of the business's stock in a transaction on Tuesday, April 29th. The shares were sold at an average price of $73.46, for a total value of $1,210,841.18. Following the completion of the sale, the director now directly owns 39,615 shares of the company's stock, valued at $2,910,117.90. The trade was a 29.38% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Terry Hermanson sold 10,000 shares of the stock in a transaction dated Tuesday, May 6th. The stock was sold at an average price of $74.34, for a total transaction of $743,400.00. Following the completion of the transaction, the director now directly owns 100,082 shares of the company's stock, valued at approximately $7,440,095.88. The trade was a 9.08% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 29,613 shares of company stock worth $2,198,600. Corporate insiders own 2.70% of the company's stock.

Mueller Industries Trading Up 0.1%

NYSE:MLI traded up $0.09 during trading hours on Tuesday, hitting $78.59. 85,702 shares of the company were exchanged, compared to its average volume of 928,078. The stock has a market capitalization of $8.70 billion, a price-to-earnings ratio of 14.80 and a beta of 1.03. Mueller Industries, Inc. has a one year low of $53.53 and a one year high of $96.81. The company has a fifty day simple moving average of $75.26 and a 200 day simple moving average of $79.65.

Mueller Industries (NYSE:MLI - Get Free Report) last released its quarterly earnings results 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 business had revenue of $1 billion during the quarter, compared to the consensus estimate of $1 billion. Mueller Industries had a return on equity of 22.97% and a net margin of 16.05%.

Mueller Industries Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, June 20th. Stockholders of record on Friday, June 6th will be given a dividend of $0.25 per share. The ex-dividend date is Friday, June 6th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.27%. Mueller Industries's dividend payout ratio (DPR) is currently 18.21%.

About Mueller Industries

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.