Maryland State Retirement & Pension System Sells 352 Shares of Mueller Industries, Inc. (NYSE:MLI)

Maryland State Retirement & Pension System cut its holdings in shares of Mueller Industries, Inc. (NYSE:MLI) by 0.9% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 40,909 shares of the industrial products company’s stock after selling 352 shares during the period. Maryland State Retirement & Pension System’s holdings in Mueller Industries were worth $2,128,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the business. First Trust Direct Indexing L.P. acquired a new stake in Mueller Industries during the 1st quarter worth approximately $210,000. United Capital Management of KS Inc. lifted its position in shares of Mueller Industries by 3.0% in the 1st quarter. United Capital Management of KS Inc. now owns 101,327 shares of the industrial products company’s stock worth $5,465,000 after purchasing an additional 2,934 shares during the period. Measured Wealth Private Client Group LLC lifted its position in shares of Mueller Industries by 5.1% in the 1st quarter. Measured Wealth Private Client Group LLC now owns 10,991 shares of the industrial products company’s stock worth $593,000 after purchasing an additional 538 shares during the period. F&V Capital Management LLC increased its stake in shares of Mueller Industries by 1.4% in the 1st quarter. F&V Capital Management LLC now owns 167,170 shares of the industrial products company’s stock valued at $9,015,000 after acquiring an additional 2,280 shares in the last quarter. Finally, Global Assets Advisory LLC bought a new stake in Mueller Industries during the 1st quarter valued at $800,000. 94.50% of the stock is currently owned by institutional investors and hedge funds.

Mueller Industries Stock Down 1.3 %

MLI stock traded down $0.74 during midday trading on Friday, reaching $56.09. 36,716 shares of the company’s stock traded hands, compared to its average volume of 673,755. Mueller Industries, Inc. has a 52 week low of $34.96 and a 52 week high of $60.31. The company has a market cap of $6.37 billion, a price-to-earnings ratio of 11.39 and a beta of 1.06. The firm’s fifty day moving average price is $57.07 and its 200-day moving average price is $52.44.

Mueller Industries (NYSE:MLI) last released its quarterly earnings data on Tuesday, April 23rd. The industrial products company reported $1.21 EPS for the quarter. Mueller Industries had a net margin of 17.22% and a return on equity of 24.69%. The business had revenue of $849.65 million for the quarter.

Mueller Industries Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 21st. Shareholders of record on Friday, June 7th were paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 1.43%. The ex-dividend date of this dividend was Friday, June 7th. Mueller Industries’s dividend payout ratio (DPR) is presently 16.03%.

Insiders Place Their Bets

In related news, Director Elizabeth M. Donovan sold 2,000 shares of Mueller Industries stock in a transaction on Thursday, May 30th. The shares were sold at an average price of $57.73, for a total value of $115,460.00. Following the sale, the director now owns 24,733 shares in the company, valued at $1,427,836.09. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Mueller Industries news, Director John B. Hansen sold 4,000 shares of the business’s stock in a transaction dated Thursday, April 25th. The stock was sold at an average price of $57.29, for a total value of $229,160.00. Following the completion of the transaction, the director now owns 104,214 shares of the company’s stock, valued at approximately $5,970,420.06. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Elizabeth M. Donovan sold 2,000 shares of the business’s stock in a transaction dated Thursday, May 30th. The stock was sold at an average price of $57.73, for a total value of $115,460.00. Following the completion of the transaction, the director now directly owns 24,733 shares of the company’s stock, valued at approximately $1,427,836.09. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 61,169 shares of company stock valued at $3,506,762. 2.80% of the stock is currently owned by corporate 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.