Bessemer Group Inc. Purchases 194,463 Shares of Mueller Industries, Inc. (NYSE:MLI)

Bessemer Group Inc. increased its holdings in shares of Mueller Industries, Inc. (NYSE:MLI) by 78.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 443,281 shares of the industrial products company’s stock after buying an additional 194,463 shares during the quarter. Bessemer Group Inc. owned 0.40% of Mueller Industries worth $33,751,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. First Trust Advisors LP boosted its holdings in shares of Mueller Industries by 5.6% in the fourth 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 during the period. Invesco Ltd. boosted its stake in Mueller Industries by 50.3% in the 4th quarter. Invesco Ltd. now owns 2,788,607 shares of the industrial products company’s stock worth $221,304,000 after purchasing an additional 933,498 shares during the period. Geode Capital Management LLC boosted its stake in Mueller Industries by 4.5% in the 4th quarter. Geode Capital Management LLC now owns 2,705,588 shares of the industrial products company’s stock worth $214,763,000 after purchasing an additional 117,327 shares during the period. William Blair Investment Management LLC bought a new position in Mueller Industries during the 4th quarter worth about $201,376,000. Finally, FMR LLC raised its stake in shares of Mueller Industries by 79.2% in the 4th quarter. FMR LLC now owns 1,911,689 shares of the industrial products company’s stock valued at $151,712,000 after purchasing an additional 845,031 shares during the period. 94.50% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Mueller Industries news, Director Terry Hermanson sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 6th. The stock was sold at an average price of $74.34, for a total transaction of $743,400.00. Following the transaction, the director now owns 100,082 shares of the company’s stock, valued at $7,440,095.88. The trade was a 9.08% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Scott Jay Goldman sold 16,483 shares of the company’s stock in a transaction that occurred 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 sale, the director now owns 39,615 shares in the company, valued at approximately $2,910,117.90. This represents a 29.38% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 29,613 shares of company stock worth $2,198,600. 2.70% of the stock is owned by insiders.

Mueller Industries Price Performance

MLI stock opened at $77.20 on Thursday. The stock has a market capitalization of $8.54 billion, a P/E ratio of 14.06 and a beta of 1.03. Mueller Industries, Inc. has a fifty-two week low of $55.20 and a fifty-two week high of $96.81. The business has a 50-day moving average of $75.57 and a 200-day moving average of $77.87.

Mueller Industries (NYSE:MLI) last released its earnings results on Tuesday, April 22nd. The industrial products company reported $1.39 EPS for the quarter, beating the consensus estimate of $1.31 by $0.08. Mueller Industries had a return on equity of 23.17% and a net margin of 15.92%. The firm had revenue of $1 billion for the quarter, compared to analysts’ expectations of $1 billion.

Mueller Industries Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 20th. Stockholders of record on Friday, June 6th were given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.30%. The ex-dividend date was Friday, June 6th. Mueller Industries’s dividend payout ratio is presently 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.