Oregon Public Employees Retirement Fund Reduces Stock Holdings in Mueller Industries, Inc. (NYSE:MLI)

Oregon Public Employees Retirement Fund decreased its holdings in Mueller Industries, Inc. (NYSE:MLI) by 13.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 23,100 shares of the industrial products company’s stock after selling 3,557 shares during the quarter. Oregon Public Employees Retirement Fund’s holdings in Mueller Industries were worth $1,833,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. New York State Common Retirement Fund lifted its stake in Mueller Industries by 20.4% in the third quarter. New York State Common Retirement Fund now owns 405,618 shares of the industrial products company’s stock worth $30,056,000 after acquiring an additional 68,633 shares during the period. State Street Corp lifted its stake in Mueller Industries by 3.2% in the third quarter. State Street Corp now owns 4,451,143 shares of the industrial products company’s stock worth $329,830,000 after acquiring an additional 139,406 shares during the period. Farther Finance Advisors LLC lifted its stake in Mueller Industries by 1,322.6% in the third quarter. Farther Finance Advisors LLC now owns 8,436 shares of the industrial products company’s stock worth $625,000 after acquiring an additional 7,843 shares during the period. Flagship Harbor Advisors LLC purchased a new stake in Mueller Industries in the fourth quarter worth $300,000. Finally, Merit Financial Group LLC purchased a new stake in Mueller Industries in the fourth quarter worth $287,000. Hedge funds and other institutional investors own 94.50% of the company’s stock.

Insiders Place Their Bets

In other Mueller Industries news, Director Scott Jay Goldman sold 10,000 shares of the stock in a transaction on Thursday, February 13th. The stock was sold at an average price of $79.81, for a total value of $798,100.00. Following the completion of the transaction, the director now owns 56,098 shares in the company, valued at approximately $4,477,181.38. This represents a 15.13 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 2.80% of the stock is owned by corporate insiders.

Mueller Industries Trading Up 1.8 %

MLI opened at $80.18 on Friday. The stock has a fifty day simple moving average of $80.18 and a two-hundred day simple moving average of $78.18. The company has a market cap of $9.12 billion, a price-to-earnings ratio of 15.10 and a beta of 0.98. Mueller Industries, Inc. has a 12-month low of $49.95 and a 12-month high of $96.81.

Mueller Industries (NYSE:MLI) last posted its quarterly earnings data on Tuesday, February 4th. The industrial products company reported $1.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.12 by $0.09. Mueller Industries had a return on equity of 22.97% and a net margin of 16.05%.

Mueller Industries Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, March 14th will be issued a $0.25 dividend. This is an increase from Mueller Industries’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend is Friday, March 14th. This represents a $1.00 dividend on an annualized basis and a yield of 1.25%. Mueller Industries’s dividend payout ratio is 18.83%.

Wall Street Analysts Forecast Growth

Separately, Northcoast Research raised Mueller Industries from a “neutral” rating to a “buy” rating and set a $105.00 price target for the company in a research note on Wednesday, December 11th.

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.