Mueller Industries, Inc. (NYSE:MLI) Stock Holdings Lowered by Louisiana State Employees Retirement System

Louisiana State Employees Retirement System reduced its holdings in Mueller Industries, Inc. (NYSE:MLI) by 4.2% during the third quarter, Holdings Channel reports. The firm owned 54,800 shares of the industrial products company’s stock after selling 2,400 shares during the period. Louisiana State Employees Retirement System’s holdings in Mueller Industries were worth $4,061,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. raised its holdings in shares of Mueller Industries by 0.5% in the 1st quarter. Vanguard Group Inc. now owns 12,359,057 shares of the industrial products company’s stock worth $666,524,000 after purchasing an additional 59,060 shares in the last quarter. Westfield Capital Management Co. LP raised its holdings in shares of Mueller Industries by 6.1% in the 1st quarter. Westfield Capital Management Co. LP now owns 168,849 shares of the industrial products company’s stock worth $9,106,000 after purchasing an additional 9,719 shares in the last quarter. SG Americas Securities LLC raised its holdings in shares of Mueller Industries by 314.6% in the 2nd quarter. SG Americas Securities LLC now owns 38,041 shares of the industrial products company’s stock worth $2,166,000 after purchasing an additional 28,865 shares in the last quarter. Janus Henderson Group PLC raised its holdings in shares of Mueller Industries by 24.0% in the 1st quarter. Janus Henderson Group PLC now owns 110,713 shares of the industrial products company’s stock worth $5,971,000 after purchasing an additional 21,404 shares in the last quarter. Finally, Advisors Asset Management Inc. raised its holdings in shares of Mueller Industries by 17.8% during the first quarter. Advisors Asset Management Inc. now owns 49,176 shares of the industrial products company’s stock valued at $2,652,000 after acquiring an additional 7,415 shares during the period. 94.50% of the stock is currently owned by institutional investors.

Insider Activity

In other news, Director John B. Hansen sold 8,000 shares of the business’s stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $67.24, for a total transaction of $537,920.00. Following the sale, the director now owns 95,914 shares in the company, valued at $6,449,257.36. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Mueller Industries news, Director John B. Hansen sold 8,000 shares of the stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $67.24, for a total value of $537,920.00. Following the completion of the sale, the director now owns 95,914 shares in the company, valued at $6,449,257.36. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Gregory L. Christopher sold 50,000 shares of the stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $69.92, for a total transaction of $3,496,000.00. Following the completion of the sale, the chief executive officer now owns 1,214,311 shares of the company’s stock, valued at approximately $84,904,625.12. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 103,000 shares of company stock worth $7,081,770 over the last 90 days. 2.80% of the stock is owned by company insiders.

Mueller Industries Price Performance

MLI stock opened at $81.85 on Friday. Mueller Industries, Inc. has a 52-week low of $36.88 and a 52-week high of $84.11. The company’s 50 day simple moving average is $71.78 and its 200-day simple moving average is $63.66. The firm has a market capitalization of $9.28 billion, a P/E ratio of 15.89 and a beta of 1.03.

Mueller Industries (NYSE:MLI) last released its quarterly earnings results on Tuesday, October 22nd. The industrial products company reported $1.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.32 by $0.16. Mueller Industries had a net margin of 16.39% and a return on equity of 23.25%. The business had revenue of $997.80 million for the quarter, compared to analyst estimates of $936.00 million. The business’s quarterly revenue was up 21.7% compared to the same quarter last year.

Mueller Industries Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, September 20th. Stockholders of record on Friday, September 6th were issued a dividend of $0.20 per share. The ex-dividend date was Friday, September 6th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.98%. Mueller Industries’s dividend payout ratio is currently 15.53%.

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.