California Public Employees Retirement System Raises Stake in Mueller Industries, Inc. (NYSE:MLI)

California Public Employees Retirement System boosted its holdings in Mueller Industries, Inc. (NYSE:MLI) by 109.4% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 230,839 shares of the industrial products company’s stock after purchasing an additional 120,610 shares during the quarter. California Public Employees Retirement System owned about 0.20% of Mueller Industries worth $10,884,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of MLI. SG Americas Securities LLC purchased a new stake in shares of Mueller Industries in the 3rd quarter worth approximately $1,093,000. Raymond James & Associates grew its stake in shares of Mueller Industries by 9.8% in the third quarter. Raymond James & Associates now owns 31,023 shares of the industrial products company’s stock worth $2,332,000 after acquiring an additional 2,763 shares during the last quarter. Stratos Wealth Advisors LLC increased its holdings in shares of Mueller Industries by 9.0% during the third quarter. Stratos Wealth Advisors LLC now owns 13,194 shares of the industrial products company’s stock valued at $992,000 after acquiring an additional 1,088 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Mueller Industries by 15.5% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,833 shares of the industrial products company’s stock worth $739,000 after purchasing an additional 1,322 shares during the last quarter. Finally, Strs Ohio boosted its stake in Mueller Industries by 34.8% in the 3rd quarter. Strs Ohio now owns 18,600 shares of the industrial products company’s stock worth $1,397,000 after purchasing an additional 4,800 shares in the last quarter. Hedge funds and other institutional investors own 94.50% of the company’s stock.

Mueller Industries Price Performance

Shares of NYSE:MLI opened at $56.09 on Thursday. Mueller Industries, Inc. has a 1 year low of $34.96 and a 1 year high of $59.59. The stock’s fifty day moving average price is $52.75 and its 200-day moving average price is $47.43. The company has a market cap of $6.37 billion, a P/E ratio of 11.24 and a beta of 1.08.

Mueller Industries (NYSE:MLI) last posted its earnings results on Tuesday, February 6th. The industrial products company reported $1.05 earnings per share (EPS) for the quarter. The business had revenue of $732.38 million for the quarter. Mueller Industries had a net margin of 17.22% and a return on equity of 24.69%.

Mueller Industries Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 15th were given a dividend of $0.20 per share. This is an increase from Mueller Industries’s previous quarterly dividend of $0.15. The ex-dividend date was Thursday, March 14th. This represents a $0.80 dividend on an annualized basis and a yield of 1.43%. Mueller Industries’s dividend payout ratio is 16.03%.

Analyst Ratings Changes

Several research analysts have issued reports on the stock. Northcoast Research reaffirmed a “neutral” rating on shares of Mueller Industries in a report on Friday, January 19th. StockNews.com cut Mueller Industries from a “buy” rating to a “hold” rating in a research report on Monday, January 22nd.

Insider Buying and Selling

In other news, Director John B. Hansen sold 5,000 shares of the stock in a transaction 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 transaction, the director now directly owns 18,000 shares of the company’s stock, valued at approximately $887,940. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, Director John B. Hansen sold 5,000 shares of Mueller Industries stock in a transaction on 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 owns 18,000 shares of the company’s stock, valued at $887,940. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Jeffrey Andrew Martin sold 47,280 shares of the company’s stock in a transaction 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 of the company’s stock, valued at approximately $18,263,870. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 108,716 shares of company stock worth $5,806,311. 2.80% of the stock is owned by insiders.

Mueller Industries Company 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.