Arizona State Retirement System Buys 14,730 Shares of Mueller Industries, Inc. (NYSE:MLI)

Arizona State Retirement System increased its stake in Mueller Industries, Inc. (NYSE:MLI) by 95.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 30,148 shares of the industrial products company’s stock after buying an additional 14,730 shares during the period. Arizona State Retirement System’s holdings in Mueller Industries were worth $1,421,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of MLI. Metropolitan Life Insurance Co NY increased its stake in shares of Mueller Industries by 4.4% during the fourth quarter. Metropolitan Life Insurance Co NY now owns 3,439 shares of the industrial products company’s stock valued at $203,000 after purchasing an additional 144 shares in the last quarter. Captrust Financial Advisors increased its stake in shares of Mueller Industries by 3.6% during the second quarter. Captrust Financial Advisors now owns 5,101 shares of the industrial products company’s stock valued at $272,000 after purchasing an additional 175 shares in the last quarter. MML Investors Services LLC increased its stake in shares of Mueller Industries by 6.3% during the second quarter. MML Investors Services LLC now owns 3,898 shares of the industrial products company’s stock valued at $340,000 after purchasing an additional 230 shares in the last quarter. Lido Advisors LLC increased its stake in shares of Mueller Industries by 4.0% during the first quarter. Lido Advisors LLC now owns 6,427 shares of the industrial products company’s stock valued at $472,000 after purchasing an additional 249 shares in the last quarter. Finally, Mercer Global Advisors Inc. ADV increased its stake in shares of Mueller Industries by 0.7% during the first quarter. Mercer Global Advisors Inc. ADV now owns 36,977 shares of the industrial products company’s stock valued at $2,717,000 after purchasing an additional 265 shares in the last quarter. 94.50% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on MLI shares. Northcoast Research reaffirmed a “neutral” rating on shares of Mueller Industries in a research note on Friday, January 19th. StockNews.com downgraded shares of Mueller Industries from a “buy” rating to a “hold” rating in a research report on Monday, January 22nd.

Insider Buying and Selling

In related news, Director John B. Hansen sold 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $49.33, for a total value of $246,650.00. Following the sale, the director now owns 18,000 shares in the company, valued at $887,940. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CFO Jeffrey Andrew Martin sold 47,280 shares of the firm’s stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $49.25, for a total value of $2,328,540.00. Following the sale, the chief financial officer now owns 370,840 shares in the company, valued at $18,263,870. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director John B. Hansen sold 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $49.33, for a total transaction of $246,650.00. Following the completion of the sale, the director now owns 18,000 shares in the company, valued at approximately $887,940. The disclosure for this sale can be found here. 2.80% of the stock is currently owned by corporate insiders.

Mueller Industries Stock Down 1.0 %

Shares of MLI opened at $51.72 on Friday. The company has a market capitalization of $5.88 billion, a P/E ratio of 9.73 and a beta of 1.08. The firm has a 50 day moving average of $51.38 and a 200 day moving average of $45.85. Mueller Industries, Inc. has a twelve month low of $33.59 and a twelve month high of $54.64.

Mueller Industries (NYSE:MLI) last announced its quarterly earnings results on Tuesday, February 6th. The industrial products company reported $1.05 earnings per share for the quarter. The company 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 issued a $0.20 dividend. The ex-dividend date was Thursday, March 14th. This represents a $0.80 annualized dividend and a yield of 1.55%. This is a boost from Mueller Industries’s previous quarterly dividend of $0.15. Mueller Industries’s dividend payout ratio (DPR) is currently 15.05%.

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.