Strs Ohio Has $1.60 Million Stake in Mueller Industries, Inc. (NYSE:MLI)

Strs Ohio boosted its position in Mueller Industries, Inc. (NYSE:MLI) by 82.3% in the fourth quarter, Holdings Channel.com reports. The firm owned 33,900 shares of the industrial products company’s stock after purchasing an additional 15,300 shares during the quarter. Strs Ohio’s holdings in Mueller Industries were worth $1,598,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of MLI. Raymond James & Associates acquired a new position in shares of Mueller Industries in the first quarter valued at approximately $379,000. HighTower Advisors LLC raised its stake in shares of Mueller Industries by 18.7% during the first quarter. HighTower Advisors LLC now owns 4,400 shares of the industrial products company’s stock valued at $239,000 after acquiring an additional 693 shares during the last quarter. Citigroup Inc. lifted its holdings in shares of Mueller Industries by 9.4% during the first quarter. Citigroup Inc. now owns 49,850 shares of the industrial products company’s stock worth $2,700,000 after purchasing an additional 4,289 shares during the period. Natixis Advisors L.P. grew its stake in shares of Mueller Industries by 18.1% in the first quarter. Natixis Advisors L.P. now owns 11,931 shares of the industrial products company’s stock worth $646,000 after purchasing an additional 1,826 shares during the last quarter. Finally, Acadian Asset Management LLC increased its holdings in Mueller Industries by 607.0% in the first quarter. Acadian Asset Management LLC now owns 11,949 shares of the industrial products company’s stock valued at $644,000 after purchasing an additional 10,259 shares during the period. 94.50% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

MLI has been the topic of a number of analyst reports. Northcoast Research reiterated a “neutral” rating on shares of Mueller Industries in a research report on Friday, January 19th. StockNews.com cut Mueller Industries from a “buy” rating to a “hold” rating in a report on Monday, January 22nd.

Mueller Industries Stock Performance

NYSE:MLI opened at $52.28 on Monday. Mueller Industries, Inc. has a 52 week low of $34.01 and a 52 week high of $54.64. The firm’s fifty day moving average is $51.70 and its 200-day moving average is $46.44. The firm has a market cap of $5.94 billion, a P/E ratio of 9.84 and a beta of 1.08.

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

Mueller Industries Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 15th were paid a dividend of $0.20 per share. The ex-dividend date was Thursday, March 14th. This represents a $0.80 annualized dividend and a yield of 1.53%. 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%.

Insiders Place Their Bets

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

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.