State Board of Administration of Florida Retirement System Sells 13,909 Shares of Mueller Industries, Inc. (NYSE:MLI)

State Board of Administration of Florida Retirement System cut its position in Mueller Industries, Inc. (NYSE:MLI) by 16.3% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 71,477 shares of the industrial products company’s stock after selling 13,909 shares during the period. State Board of Administration of Florida Retirement System’s holdings in Mueller Industries were worth $3,096,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Berman Capital Advisors LLC boosted its stake in Mueller Industries by 1,568.1% in the 1st quarter. Berman Capital Advisors LLC now owns 784 shares of the industrial products company’s stock valued at $32,000 after purchasing an additional 737 shares during the period. Point72 Hong Kong Ltd bought a new stake in shares of Mueller Industries during the 1st quarter valued at $82,000. Federated Hermes Inc. lifted its position in shares of Mueller Industries by 123.0% during the 1st quarter. Federated Hermes Inc. now owns 2,243 shares of the industrial products company’s stock valued at $93,000 after acquiring an additional 1,237 shares during the period. Captrust Financial Advisors lifted its position in shares of Mueller Industries by 3,083.5% during the 1st quarter. Captrust Financial Advisors now owns 3,661 shares of the industrial products company’s stock valued at $152,000 after acquiring an additional 3,546 shares during the period. Finally, CIBC Asset Management Inc bought a new stake in shares of Mueller Industries during the 1st quarter valued at $202,000. Institutional investors and hedge funds own 88.32% of the company’s stock.

NYSE:MLI opened at $40.62 on Thursday. The stock has a fifty day moving average price of $43.14 and a 200-day moving average price of $43.86. The company has a market cap of $2.32 billion, a price-to-earnings ratio of 9.17 and a beta of 1.16. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.92 and a current ratio of 2.99. Mueller Industries, Inc. has a fifty-two week low of $26.07 and a fifty-two week high of $48.06.

Mueller Industries (NYSE:MLI) last posted its quarterly earnings results on Tuesday, July 20th. The industrial products company reported $1.92 EPS for the quarter. Mueller Industries had a return on equity of 31.43% and a net margin of 8.03%. The company had revenue of $1.01 billion during the quarter. Research analysts predict that Mueller Industries, Inc. will post 6.25 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Friday, September 17th. Stockholders of record on Friday, September 3rd were issued a dividend of $0.13 per share. The ex-dividend date was Thursday, September 2nd. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.28%. Mueller Industries’s dividend payout ratio (DPR) is currently 21.14%.

Separately, Zacks Investment Research downgraded Mueller Industries from a “strong-buy” rating to a “hold” rating in a research report on Wednesday.

Mueller Industries Company Profile

Mueller Industries, Inc engages in the manufacture of copper, brass, aluminum, and plastic products. It operates through the following segments: Piping Systems, Industrial Metals, and Climate. The Piping Systems segment consists of domestic piping systems group, Canadian operations, European operations, trading group, Jiangsu Mueller-Xingrong Copper Industries Limited, and Jungwoo Metal Ind.

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Institutional Ownership by Quarter for Mueller Industries (NYSE:MLI)

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