New York State Teachers Retirement System Acquires 93,708 Shares of Mueller Industries, Inc. (NYSE:MLI)

New York State Teachers Retirement System raised its holdings in shares of Mueller Industries, Inc. (NYSE:MLI) by 98.9% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 188,453 shares of the industrial products company’s stock after acquiring an additional 93,708 shares during the period. New York State Teachers Retirement System owned approximately 0.17% of Mueller Industries worth $8,886,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in MLI. Fifth Third Bancorp raised its position in shares of Mueller Industries by 124.3% during the 4th quarter. Fifth Third Bancorp now owns 527 shares of the industrial products company’s stock valued at $25,000 after acquiring an additional 292 shares during the last quarter. Beaird Harris Wealth Management LLC acquired a new position in shares of Mueller Industries in the 3rd quarter valued at $30,000. Point72 Hong Kong Ltd acquired a new position in shares of Mueller Industries in the 2nd quarter valued at $40,000. Adirondack Trust Co. acquired a new position in shares of Mueller Industries in the 3rd quarter valued at $45,000. Finally, Versant Capital Management Inc grew its holdings in shares of Mueller Industries by 100.0% in the 4th quarter. Versant Capital Management Inc now owns 974 shares of the industrial products company’s stock valued at $46,000 after buying an additional 487 shares during the period. Institutional investors own 94.50% of the company’s stock.

Mueller Industries Trading Up 1.0 %

Shares of NYSE MLI opened at $52.25 on Friday. The firm has a market cap of $5.94 billion, a PE ratio of 9.83 and a beta of 1.08. Mueller Industries, Inc. has a 1-year low of $33.59 and a 1-year high of $54.64. The company has a fifty day moving average price of $51.33 and a 200 day moving average price of $45.69.

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

Mueller Industries Increases Dividend

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

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on MLI. Northcoast Research reissued a “neutral” rating on shares of Mueller Industries in a report on Friday, January 19th. StockNews.com lowered shares of Mueller Industries from a “buy” rating to a “hold” rating in a report on Monday, January 22nd.

Insider Buying and Selling

In other Mueller Industries news, CFO Jeffrey Andrew Martin sold 47,280 shares of the business’s stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $49.25, for a total transaction of $2,328,540.00. Following the sale, the chief financial officer now directly owns 370,840 shares of the company’s stock, valued at approximately $18,263,870. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Mueller Industries news, Director John B. Hansen sold 5,000 shares of the business’s stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $49.33, for a total transaction of $246,650.00. Following the sale, the director now directly owns 18,000 shares of the company’s stock, valued at approximately $887,940. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Jeffrey Andrew Martin sold 47,280 shares of the business’s stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $49.25, for a total transaction 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 disclosure for this sale can be found here. Company insiders own 2.80% of the company’s stock.

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.