Harvest Fund Management Co. Ltd Has $385,000 Stock Holdings in Mueller Industries, Inc. (NYSE:MLI)

Harvest Fund Management Co. Ltd trimmed its holdings in Mueller Industries, Inc. (NYSE:MLI) by 57.2% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,058 shares of the industrial products company’s stock after selling 6,767 shares during the period. Harvest Fund Management Co. Ltd’s holdings in Mueller Industries were worth $385,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. D.A. Davidson & CO. bought a new stake in Mueller Industries in the first quarter worth approximately $317,000. Fifth Third Bancorp boosted its holdings in shares of Mueller Industries by 6.1% during the 1st quarter. Fifth Third Bancorp now owns 3,701 shares of the industrial products company’s stock worth $282,000 after buying an additional 213 shares during the period. SG Americas Securities LLC bought a new stake in shares of Mueller Industries during the 1st quarter worth $303,000. Chevy Chase Trust Holdings LLC bought a new stake in shares of Mueller Industries during the 1st quarter worth $4,140,000. Finally, KBC Group NV boosted its holdings in shares of Mueller Industries by 391.3% during the 1st quarter. KBC Group NV now owns 20,575 shares of the industrial products company’s stock worth $1,567,000 after buying an additional 16,387 shares during the period. 94.50% of the stock is owned by institutional investors.

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 shares were sold at an average price of $78.07, for a total value of $244,359.10. Following the completion of the sale, the director directly owned 93,914 shares of the company’s stock, valued at $7,331,865.98. This represents a 3.23% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Terry Hermanson sold 10,000 shares of the stock in a transaction on Tuesday, May 6th. The shares were sold at an average price of $74.34, for a total transaction of $743,400.00. Following the completion of the sale, the director directly owned 100,082 shares of the company’s stock, valued at approximately $7,440,095.88. This trade represents a 9.08% decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.70% of the stock is owned by corporate insiders.

Mueller Industries Trading Down 0.5%

NYSE MLI opened at $87.51 on Thursday. The company has a fifty day simple moving average of $80.52 and a 200 day simple moving average of $78.60. The company has a market cap of $9.69 billion, a P/E ratio of 13.89 and a beta of 1.01. Mueller Industries, Inc. has a 1 year low of $62.74 and a 1 year high of $96.81.

Mueller Industries (NYSE:MLI) last posted its quarterly earnings data on Tuesday, July 22nd. The industrial products company reported $1.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.62 by $0.34. Mueller Industries had a net margin of 17.48% and a return on equity of 24.47%. The business had revenue of $1.14 billion during the quarter, compared to the consensus estimate of $1.12 billion. Mueller Industries’s quarterly revenue was up 14.1% on a year-over-year basis.

Mueller Industries Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 20th. Shareholders of record on Friday, June 6th were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 1.14%. The ex-dividend date of this dividend was Friday, June 6th. Mueller Industries’s dividend payout ratio (DPR) is presently 15.87%.

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.