Public Sector Pension Investment Board Boosts Holdings in Mueller Industries, Inc. (NYSE:MLI)

Public Sector Pension Investment Board grew its holdings in Mueller Industries, Inc. (NYSE:MLI) by 7.4% during the 2nd quarter, Holdings Channel reports. The firm owned 249,932 shares of the industrial products company’s stock after buying an additional 17,227 shares during the period. Public Sector Pension Investment Board’s holdings in Mueller Industries were worth $14,231,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the business. Miller Howard Investments Inc. NY grew its holdings in Mueller Industries by 2.1% during the 2nd quarter. Miller Howard Investments Inc. NY now owns 7,188 shares of the industrial products company’s stock valued at $409,000 after buying an additional 151 shares during the last quarter. Summit Global Investments boosted its stake in shares of Mueller Industries by 1.6% during the second quarter. Summit Global Investments now owns 12,844 shares of the industrial products company’s stock valued at $731,000 after acquiring an additional 204 shares during the last quarter. CWM LLC increased its position in Mueller Industries by 36.9% during the 1st quarter. CWM LLC now owns 827 shares of the industrial products company’s stock worth $45,000 after purchasing an additional 223 shares in the last quarter. Hsbc Holdings PLC raised its stake in Mueller Industries by 1.8% in the 2nd quarter. Hsbc Holdings PLC now owns 13,188 shares of the industrial products company’s stock valued at $757,000 after purchasing an additional 233 shares during the last quarter. Finally, Burney Co. lifted its holdings in Mueller Industries by 0.8% in the 2nd quarter. Burney Co. now owns 29,652 shares of the industrial products company’s stock valued at $1,688,000 after purchasing an additional 236 shares in the last quarter. 94.50% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director John B. Hansen sold 8,000 shares of the firm’s stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $67.24, for a total value of $537,920.00. Following the sale, the director now directly owns 95,914 shares of the company’s stock, valued at $6,449,257.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Mueller Industries news, Director John B. Hansen sold 8,000 shares of the business’s stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $67.24, for a total transaction of $537,920.00. Following the completion of the sale, the director now owns 95,914 shares of the company’s stock, valued at $6,449,257.36. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Gregory L. Christopher sold 50,000 shares of the firm’s stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $69.92, for a total value of $3,496,000.00. Following the completion of the transaction, the chief executive officer now owns 1,214,311 shares in the company, valued at $84,904,625.12. The disclosure for this sale can be found here. Insiders sold a total of 103,000 shares of company stock valued at $7,081,770 in the last 90 days. 2.80% of the stock is currently owned by insiders.

Mueller Industries Price Performance

Shares of NYSE MLI opened at $71.81 on Tuesday. The company has a 50-day simple moving average of $68.48 and a 200-day simple moving average of $60.18. The company has a market cap of $8.16 billion, a PE ratio of 14.39 and a beta of 1.03. Mueller Industries, Inc. has a 12 month low of $34.96 and a 12 month high of $74.47.

Mueller Industries (NYSE:MLI) last issued its quarterly earnings results on Tuesday, July 23rd. The industrial products company reported $1.41 earnings per share for the quarter, beating the consensus estimate of $1.29 by $0.12. Mueller Industries had a return on equity of 22.86% and a net margin of 16.19%. The company had revenue of $997.75 million during the quarter.

Mueller Industries Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 20th. Shareholders of record on Friday, September 6th were issued a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 1.11%. The ex-dividend date of this dividend was Friday, September 6th. Mueller Industries’s dividend payout ratio (DPR) is 16.03%.

Mueller Industries 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.