Oregon Public Employees Retirement Fund Sells 3,557 Shares of Mueller Industries, Inc. (NYSE:MLI)

Oregon Public Employees Retirement Fund cut its stake in shares of Mueller Industries, Inc. (NYSE:MLI) by 13.3% in the 4th quarter, Holdings Channel.com reports. The fund owned 23,100 shares of the industrial products company’s stock after selling 3,557 shares during the period. Oregon Public Employees Retirement Fund’s holdings in Mueller Industries were worth $1,833,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. New York State Common Retirement Fund increased its holdings in shares of Mueller Industries by 20.4% during the third quarter. New York State Common Retirement Fund now owns 405,618 shares of the industrial products company’s stock valued at $30,056,000 after acquiring an additional 68,633 shares in the last quarter. State Street Corp boosted its position in shares of Mueller Industries by 3.2% during the third quarter. State Street Corp now owns 4,451,143 shares of the industrial products company’s stock valued at $329,830,000 after buying an additional 139,406 shares during the last quarter. Farther Finance Advisors LLC boosted its position in shares of Mueller Industries by 1,322.6% during the third quarter. Farther Finance Advisors LLC now owns 8,436 shares of the industrial products company’s stock valued at $625,000 after buying an additional 7,843 shares during the last quarter. Flagship Harbor Advisors LLC purchased a new stake in shares of Mueller Industries during the fourth quarter valued at $300,000. Finally, Merit Financial Group LLC purchased a new stake in shares of Mueller Industries during the fourth quarter valued at $287,000. 94.50% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Separately, Northcoast Research raised Mueller Industries from a “neutral” rating to a “buy” rating and set a $105.00 price objective on the stock in a research report on Wednesday, December 11th.

Mueller Industries Price Performance

Mueller Industries stock opened at $80.18 on Friday. Mueller Industries, Inc. has a one year low of $49.95 and a one year high of $96.81. The stock has a market capitalization of $9.12 billion, a PE ratio of 15.10 and a beta of 0.98. The business’s fifty day moving average is $80.18 and its 200 day moving average is $78.18.

Mueller Industries (NYSE:MLI) last released its quarterly earnings data on Tuesday, February 4th. The industrial products company reported $1.21 EPS for the quarter, beating the consensus estimate of $1.12 by $0.09. Mueller Industries had a return on equity of 22.97% and a net margin of 16.05%.

Mueller Industries Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, March 14th will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.25%. This is a boost from Mueller Industries’s previous quarterly dividend of $0.20. The ex-dividend date is Friday, March 14th. Mueller Industries’s dividend payout ratio (DPR) is presently 18.83%.

Insiders Place Their Bets

In other Mueller Industries news, Director Scott Jay Goldman sold 10,000 shares of the firm’s stock in a transaction dated Thursday, February 13th. The stock was sold at an average price of $79.81, for a total value of $798,100.00. Following the transaction, the director now directly owns 56,098 shares of the company’s stock, valued at approximately $4,477,181.38. This trade represents a 15.13 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 2.80% of the company’s stock.

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.