Bessemer Group Inc. Has $33.75 Million Stock Holdings in Mueller Industries, Inc. (NYSE:MLI)

Bessemer Group Inc. boosted its position in Mueller Industries, Inc. (NYSE:MLI) by 78.2% in the 1st quarter, HoldingsChannel reports. The firm owned 443,281 shares of the industrial products company’s stock after acquiring an additional 194,463 shares during the period. Bessemer Group Inc.’s holdings in Mueller Industries were worth $33,751,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. First Trust Advisors LP raised its stake in 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 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 worth $221,304,000 after acquiring an additional 933,498 shares during the period. Geode Capital Management LLC increased its holdings 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 worth $214,763,000 after acquiring an additional 117,327 shares during the last quarter. William Blair Investment Management LLC acquired a new position in shares of Mueller Industries during the 4th quarter worth approximately $201,376,000. Finally, FMR LLC raised its stake in 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 acquiring an additional 845,031 shares during the period. 94.50% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Mueller Industries news, Director John B. Hansen sold 3,130 shares of the stock in a transaction on 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 now owns 93,914 shares in the company, valued at $7,331,865.98. This trade represents a 3.23% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Scott Jay Goldman sold 16,483 shares of Mueller Industries 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 sale, the director now directly owns 39,615 shares of the company’s stock, valued at $2,910,117.90. This represents a 29.38% decrease in their position. The disclosure for this sale can be found here. Insiders sold 29,613 shares of company stock worth $2,198,600 over the last three months. Insiders own 2.70% of the company’s stock.

Mueller Industries Price Performance

Shares of Mueller Industries stock opened at $77.20 on Thursday. The business has a fifty day simple moving average of $75.57 and a two-hundred day simple moving average of $77.87. Mueller Industries, Inc. has a 1 year low of $55.20 and a 1 year high of $96.81. The company has a market capitalization of $8.54 billion, a price-to-earnings ratio of 14.06 and a beta of 1.03.

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

Mueller Industries Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 20th. Shareholders of record on Friday, June 6th were given a dividend of $0.25 per share. The ex-dividend date was Friday, June 6th. This represents a $1.00 annualized dividend and a yield of 1.30%. Mueller Industries’s dividend payout ratio (DPR) is presently 18.21%.

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.