Oregon Public Employees Retirement Fund Sells 2,800 Shares of Mueller Industries, Inc. (NYSE:MLI)

Oregon Public Employees Retirement Fund trimmed its holdings in shares of Mueller Industries, Inc. (NYSE:MLI) by 9.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 27,557 shares of the industrial products company’s stock after selling 2,800 shares during the quarter. Oregon Public Employees Retirement Fund’s holdings in Mueller Industries were worth $1,569,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. International Assets Investment Management LLC bought a new stake in shares of Mueller Industries during the 2nd quarter valued at $26,000. Opal Wealth Advisors LLC bought a new stake in Mueller Industries during the second quarter valued at about $30,000. Montag A & Associates Inc. purchased a new stake in Mueller Industries in the fourth quarter worth about $34,000. LifeSteps Financial Inc. bought a new position in shares of Mueller Industries in the first quarter worth about $43,000. Finally, CWM LLC lifted its position in shares of Mueller Industries by 36.9% during the 1st quarter. CWM LLC now owns 827 shares of the industrial products company’s stock valued at $45,000 after buying an additional 223 shares in the last quarter. 94.50% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, CEO Gregory L. Christopher sold 45,000 shares of Mueller Industries stock in a transaction that occurred on Wednesday, August 14th. The stock was sold at an average price of $67.73, for a total transaction of $3,047,850.00. Following the sale, the chief executive officer now owns 1,264,311 shares of the company’s stock, valued at approximately $85,631,784.03. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director John B. Hansen sold 8,000 shares of the stock in a transaction that occurred on 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 transaction, the director now directly owns 95,914 shares of the company’s stock, valued at $6,449,257.36. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Gregory L. Christopher sold 45,000 shares of Mueller Industries stock in a transaction that occurred on Wednesday, August 14th. The stock was sold at an average price of $67.73, for a total value of $3,047,850.00. Following the completion of the sale, the chief executive officer now directly owns 1,264,311 shares in the company, valued at approximately $85,631,784.03. The disclosure for this sale can be found here. Insiders have sold 103,000 shares of company stock worth $7,081,770 over the last ninety days. Corporate insiders own 2.80% of the company’s stock.

Mueller Industries Trading Down 1.2 %

Shares of NYSE:MLI opened at $65.89 on Friday. The stock has a 50 day moving average of $65.74 and a 200 day moving average of $58.60. The company has a market cap of $7.48 billion, a PE ratio of 13.20 and a beta of 1.03. Mueller Industries, Inc. has a 12-month low of $34.96 and a 12-month high of $72.83.

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

Mueller Industries Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 20th. Shareholders of record on Friday, September 6th will be issued a dividend of $0.20 per share. The ex-dividend date is Friday, September 6th. This represents a $0.80 dividend on an annualized basis and a yield of 1.21%. Mueller Industries’s dividend payout ratio is presently 16.03%.

About Mueller Industries

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.