New York State Common Retirement Fund Has $16.28 Million Stock Position in Mueller Industries, Inc. (NYSE:MLI)

New York State Common Retirement Fund boosted its position in Mueller Industries, Inc. (NYSE:MLI) by 67.7% in the 4th quarter, HoldingsChannel reports. The firm owned 345,314 shares of the industrial products company’s stock after acquiring an additional 139,357 shares during the period. New York State Common Retirement Fund’s holdings in Mueller Industries were worth $16,282,000 as of its most recent filing with the SEC.

Several other hedge funds have also bought and sold shares of MLI. Fifth Third Bancorp lifted its stake in Mueller Industries by 124.3% in the 4th quarter. Fifth Third Bancorp now owns 527 shares of the industrial products company’s stock valued at $25,000 after purchasing an additional 292 shares during the last quarter. Beaird Harris Wealth Management LLC acquired a new stake in Mueller Industries in the 3rd quarter valued at about $30,000. Adirondack Trust Co. acquired a new stake in Mueller Industries during the third quarter worth approximately $45,000. Versant Capital Management Inc lifted its position in Mueller Industries by 100.0% during the fourth quarter. Versant Capital Management Inc now owns 974 shares of the industrial products company’s stock worth $46,000 after acquiring an additional 487 shares during the last quarter. Finally, NBC Securities Inc. acquired a new stake in Mueller Industries during the third quarter worth approximately $52,000. 94.50% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

Mueller Industries Stock Down 1.8 %

Shares of MLI stock opened at $57.33 on Monday. Mueller Industries, Inc. has a 12-month low of $34.08 and a 12-month high of $59.59. The firm has a 50 day moving average price of $52.44 and a two-hundred day moving average price of $47.14. The company has a market capitalization of $6.51 billion, a PE ratio of 11.49 and a beta of 1.08.

Mueller Industries (NYSE:MLI) last announced its earnings results on Tuesday, February 6th. The industrial products company reported $1.05 EPS for the quarter. Mueller Industries had a net margin of 17.22% and a return on equity of 24.69%. The company 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. Stockholders of record on Friday, March 15th were issued a dividend of $0.20 per share. The ex-dividend date was Thursday, March 14th. This is a boost from Mueller Industries’s previous quarterly dividend of $0.15. This represents a $0.80 annualized dividend and a dividend yield of 1.40%. Mueller Industries’s dividend payout ratio (DPR) is currently 16.03%.

Insider Transactions at Mueller Industries

In other 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 transaction of $2,328,540.00. Following the transaction, the chief financial officer now directly owns 370,840 shares of the company’s stock, valued at $18,263,870. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CFO Jeffrey Andrew Martin sold 47,280 shares of Mueller Industries 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 transaction, the chief financial officer now directly owns 370,840 shares of the company’s stock, valued at $18,263,870. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director John B. Hansen sold 5,000 shares of Mueller Industries 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 transaction, the director now directly owns 18,000 shares in the company, valued at $887,940. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 56,280 shares of company stock valued at $2,804,350. 2.80% of the stock is currently owned by company insiders.

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.