Strs Ohio Has $262,000 Position in Mueller Industries, Inc. $MLI

Strs Ohio lowered its stake in shares of Mueller Industries, Inc. (NYSE:MLI) by 87.6% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,593 shares of the industrial products company’s stock after selling 18,242 shares during the quarter. Strs Ohio’s holdings in Mueller Industries were worth $262,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the company. Employees Retirement System of Texas acquired a new stake in shares of Mueller Industries in the second quarter worth $34,000. Root Financial Partners LLC bought a new position in Mueller Industries in the 3rd quarter worth $38,000. Northwestern Mutual Wealth Management Co. lifted its position in Mueller Industries by 108.8% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 501 shares of the industrial products company’s stock worth $40,000 after acquiring an additional 261 shares during the last quarter. True Wealth Design LLC lifted its position in Mueller Industries by 5,691.7% during the 3rd quarter. True Wealth Design LLC now owns 695 shares of the industrial products company’s stock worth $70,000 after acquiring an additional 683 shares during the last quarter. Finally, Steward Partners Investment Advisory LLC bought a new stake in Mueller Industries during the second quarter valued at about $79,000. Institutional investors own 94.50% of the company’s stock.

Mueller Industries Price Performance

NYSE MLI opened at $136.06 on Monday. The firm has a market capitalization of $15.10 billion, a price-to-earnings ratio of 20.31 and a beta of 1.03. The company’s fifty day moving average is $119.91 and its two-hundred day moving average is $105.46. Mueller Industries, Inc. has a 52-week low of $66.84 and a 52-week high of $137.64.

Mueller Industries Announces Dividend

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

Analyst Ratings Changes

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

Insider Transactions at Mueller Industries

In other Mueller Industries news, Director Scott Jay Goldman sold 4,234 shares of the company’s stock in a transaction that occurred on Tuesday, November 25th. The stock was sold at an average price of $108.64, for a total value of $459,981.76. Following the completion of the transaction, the director owned 41,745 shares of the company’s stock, valued at $4,535,176.80. This represents a 9.21% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 2.70% of the stock is owned by corporate 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.