AIA Group Ltd Raises Stock Holdings in Mueller Industries, Inc. (NYSE:MLI)

AIA Group Ltd raised its position in Mueller Industries, Inc. (NYSE:MLI) by 129.2% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 23,814 shares of the industrial products company’s stock after purchasing an additional 13,426 shares during the period. AIA Group Ltd’s holdings in Mueller Industries were worth $1,123,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also modified their holdings of the stock. Beaird Harris Wealth Management LLC acquired a new position in Mueller Industries during the third quarter worth $30,000. Fifth Third Bancorp grew its holdings in Mueller Industries by 124.3% during the fourth quarter. Fifth Third Bancorp now owns 527 shares of the industrial products company’s stock worth $25,000 after acquiring an additional 292 shares during the period. Adirondack Trust Co. acquired a new position in Mueller Industries during the third quarter worth $45,000. NBC Securities Inc. acquired a new position in Mueller Industries during the third quarter worth $52,000. Finally, Point72 Hong Kong Ltd acquired a new position in Mueller Industries during the second quarter worth $40,000. Institutional investors and hedge funds own 94.50% of the company’s stock.

Mueller Industries Stock Performance

Mueller Industries stock opened at $52.28 on Friday. The firm has a market capitalization of $5.94 billion, a price-to-earnings ratio of 9.84 and a beta of 1.08. Mueller Industries, Inc. has a fifty-two week low of $34.01 and a fifty-two week high of $54.64. The stock’s fifty day moving average is $51.70 and its two-hundred day moving average is $46.30.

Mueller Industries (NYSE:MLI) last posted its earnings results on Tuesday, February 6th. The industrial products company reported $1.05 earnings per share for the quarter. The company had revenue of $732.38 million for the quarter. Mueller Industries had a return on equity of 27.59% and a net margin of 17.63%.

Mueller Industries Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 15th were issued a $0.20 dividend. This is a positive change from Mueller Industries’s previous quarterly dividend of $0.15. The ex-dividend date was Thursday, March 14th. This represents a $0.80 annualized dividend and a yield of 1.53%. Mueller Industries’s dividend payout ratio is 15.05%.

Insider Buying and Selling at Mueller Industries

In other news, CFO Jeffrey Andrew Martin sold 47,280 shares of the company’s stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $49.25, for a total value of $2,328,540.00. Following the sale, the chief financial officer now directly owns 370,840 shares in the company, valued at $18,263,870. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director John B. Hansen sold 5,000 shares of the company’s stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $49.33, for a total value of $246,650.00. Following the sale, the director now directly owns 18,000 shares in the company, valued at $887,940. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Jeffrey Andrew Martin sold 47,280 shares of the company’s stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $49.25, for a total value of $2,328,540.00. Following the completion of the sale, the chief financial officer now owns 370,840 shares in the company, valued at $18,263,870. The disclosure for this sale can be found here. 2.80% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the company. Northcoast Research reaffirmed a “neutral” rating on shares of Mueller Industries in a report on Friday, January 19th. StockNews.com lowered Mueller Industries from a “buy” rating to a “hold” rating in a report on Monday, January 22nd.

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.