Mueller Industries, Inc. $MLI Shares Sold by New York State Common Retirement Fund

New York State Common Retirement Fund lessened its position in shares of Mueller Industries, Inc. (NYSE:MLI) by 5.6% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 372,601 shares of the industrial products company’s stock after selling 22,251 shares during the quarter. New York State Common Retirement Fund owned approximately 0.34% of Mueller Industries worth $37,674,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Norges Bank purchased a new stake in shares of Mueller Industries during the 2nd quarter worth about $127,287,000. Qube Research & Technologies Ltd acquired a new position in Mueller Industries in the 2nd quarter worth about $75,901,000. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in Mueller Industries during the second quarter worth approximately $54,751,000. Vaughan Nelson Investment Management L.P. acquired a new stake in Mueller Industries in the third quarter valued at approximately $51,789,000. Finally, Cubist Systematic Strategies LLC purchased a new stake in shares of Mueller Industries in the second quarter valued at approximately $36,974,000. Hedge funds and other institutional investors own 94.50% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reiterated a “buy (b)” rating on shares of Mueller Industries in a research report on Thursday, January 22nd. One analyst has rated the stock with a Buy rating, According to MarketBeat, the stock presently has a consensus rating of “Buy”.

Mueller Industries Trading Down 1.0%

NYSE:MLI opened at $136.06 on Friday. The stock has a 50 day moving average of $119.91 and a two-hundred day moving average of $105.17. Mueller Industries, Inc. has a 12 month low of $66.84 and a 12 month high of $137.64. The firm has a market cap of $15.10 billion, a P/E ratio of 20.31 and a beta of 1.04.

Mueller Industries Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, December 19th. Shareholders of record on Friday, December 5th were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.7%. The ex-dividend date of this dividend was Friday, December 5th. Mueller Industries’s payout ratio is 14.93%.

Insider Activity

In other news, Director Scott Jay Goldman sold 4,234 shares of the stock in a transaction dated Tuesday, November 25th. The shares were sold at an average price of $108.64, for a total value of $459,981.76. Following the completion of the sale, the director directly owned 41,745 shares in the company, valued at $4,535,176.80. This represents a 9.21% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 2.70% of the stock is owned by insiders.

About Mueller Industries

Mueller Industries, Inc is a diversified manufacturer and marketer of copper, brass, aluminum and plastic products. Headquartered in Memphis, Tennessee, the company serves a wide range of markets including HVAC (heating, ventilation and air conditioning), refrigeration, plumbing, industrial gas, automotive and agricultural sectors. Its product portfolio encompasses copper and plastic tubing, brass fittings, valves and related components designed for fluid handling and temperature control applications.

The company operates through multiple business segments, including the Plumbing & Refrigeration segment, which supplies copper and plastic tubing, fittings and valves for residential and commercial construction markets; the Industrial Metals & Mining segment, which provides aluminum shapes and specialty brass products for industrial applications; and the Climate segment, which focuses on copper tubing and components for air conditioning and refrigeration systems.