Texas Permanent School Fund Corp Boosts Position in Mueller Industries, Inc. (NYSE:MLI)

Texas Permanent School Fund Corp grew its position in shares of Mueller Industries, Inc. (NYSE:MLI) by 33.7% during the second quarter, HoldingsChannel reports. The firm owned 132,814 shares of the industrial products company’s stock after buying an additional 33,455 shares during the period. Texas Permanent School Fund Corp’s holdings in Mueller Industries were worth $7,562,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. International Assets Investment Management LLC purchased a new stake in shares of Mueller Industries during the second quarter valued at approximately $26,000. Opal Wealth Advisors LLC purchased a new stake in shares of Mueller Industries during the second quarter valued at approximately $30,000. LifeSteps Financial Inc. purchased a new stake in shares of Mueller Industries during the first quarter valued at approximately $43,000. CWM LLC raised its stake in shares of Mueller Industries by 36.9% during the first quarter. CWM LLC now owns 827 shares of the industrial products company’s stock valued at $45,000 after purchasing an additional 223 shares during the period. Finally, Nomura Asset Management Co. Ltd. raised its stake in shares of Mueller Industries by 100.0% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 1,000 shares of the industrial products company’s stock valued at $47,000 after purchasing an additional 500 shares during the period. Hedge funds and other institutional investors own 94.50% of the company’s stock.

Mueller Industries Stock Up 0.4 %

MLI opened at $67.14 on Wednesday. The firm has a market capitalization of $7.61 billion, a P/E ratio of 13.45 and a beta of 1.03. The firm’s 50 day moving average is $66.16 and its 200-day moving average is $58.94. Mueller Industries, Inc. has a 52-week low of $34.96 and a 52-week high of $72.83.

Mueller Industries (NYSE:MLI) last released its quarterly earnings results on Tuesday, July 23rd. The industrial products company reported $1.41 earnings per share 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 business had revenue of $997.75 million during the quarter.

Mueller Industries Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, September 20th. Stockholders of record on Friday, September 6th will be given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.19%. The ex-dividend date is Friday, September 6th. Mueller Industries’s payout ratio is currently 16.03%.

Insider Transactions at Mueller Industries

In other 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 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 filing with the Securities & Exchange Commission, which can be accessed through this link. In other Mueller Industries news, CEO Gregory L. Christopher sold 50,000 shares of Mueller Industries stock in a transaction on Thursday, August 22nd. The shares were 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 of the company’s stock, valued at $84,904,625.12. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director John B. Hansen sold 8,000 shares of Mueller Industries stock in a transaction 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 approximately $6,449,257.36. The disclosure for this sale can be found here. Over the last quarter, insiders sold 103,000 shares of company stock valued at $7,081,770. 2.80% of the stock is currently owned by corporate insiders.

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.