Hsbc Holdings PLC Has $757,000 Holdings in Mueller Industries, Inc. (NYSE:MLI)

Hsbc Holdings PLC raised its position in Mueller Industries, Inc. (NYSE:MLI) by 1.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 13,188 shares of the industrial products company’s stock after purchasing an additional 233 shares during the quarter. Hsbc Holdings PLC’s holdings in Mueller Industries were worth $757,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of MLI. International Assets Investment Management LLC bought a new stake in Mueller Industries in the 2nd quarter valued at approximately $26,000. Federated Hermes Inc. bought a new stake in shares of Mueller Industries in the second quarter worth $28,000. Opal Wealth Advisors LLC acquired a new position in Mueller Industries during the second quarter worth $30,000. LifeSteps Financial Inc. bought a new position in Mueller Industries in the first quarter valued at $43,000. Finally, CWM LLC increased its stake in Mueller Industries by 36.9% in the 1st quarter. CWM LLC now owns 827 shares of the industrial products company’s stock valued at $45,000 after buying an additional 223 shares during the last quarter. 94.50% of the stock is currently owned by institutional investors.

Mueller Industries Price Performance

Mueller Industries stock opened at $72.10 on Monday. The company has a market cap of $8.19 billion, a price-to-earnings ratio of 14.45 and a beta of 1.03. The firm has a 50-day moving average of $69.09 and a 200-day moving average of $60.73. Mueller Industries, Inc. has a one year low of $34.96 and a one year high of $74.47.

Mueller Industries (NYSE:MLI) last posted its quarterly earnings results on Tuesday, July 23rd. The industrial products company reported $1.41 earnings per share for the quarter, beating analysts’ consensus estimates of $1.29 by $0.12. Mueller Industries had a return on equity of 22.86% and a net margin of 16.19%. The firm had revenue of $997.75 million during the quarter.

Mueller Industries Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, September 20th. Shareholders of record on Friday, September 6th were given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 1.11%. The ex-dividend date of this dividend was Friday, September 6th. Mueller Industries’s dividend payout ratio (DPR) is currently 16.03%.

Insider Buying and Selling at Mueller Industries

In other news, CEO Gregory L. Christopher sold 45,000 shares of the company’s stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $67.73, for a total value of $3,047,850.00. Following the sale, the chief executive officer now directly owns 1,264,311 shares of the company’s stock, valued at approximately $85,631,784.03. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, CEO Gregory L. Christopher sold 50,000 shares of the stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $69.92, for a total value of $3,496,000.00. Following the transaction, the chief executive officer now directly owns 1,214,311 shares of the company’s stock, valued at $84,904,625.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Gregory L. Christopher sold 45,000 shares of Mueller Industries stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $67.73, for a total transaction of $3,047,850.00. Following the sale, the chief executive officer now directly owns 1,264,311 shares of the company’s stock, valued at approximately $85,631,784.03. The disclosure for this sale can be found here. Insiders sold a total of 103,000 shares of company stock worth $7,081,770 over the last quarter. 2.80% of the stock is currently owned by insiders.

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.