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

Public Sector Pension Investment Board decreased its holdings in shares of Mueller Industries, Inc. (NYSE:MLI) by 3.8% during the third quarter, according to its most recent filing with the SEC. The firm owned 240,432 shares of the industrial products company’s stock after selling 9,500 shares during the period. Public Sector Pension Investment Board owned 0.21% of Mueller Industries worth $17,816,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. International Assets Investment Management LLC bought a new stake in shares of Mueller Industries in the 2nd quarter valued at about $26,000. Federated Hermes Inc. acquired a new stake in Mueller Industries in the 2nd quarter worth approximately $28,000. Opal Wealth Advisors LLC acquired a new stake in Mueller Industries in the 2nd quarter worth approximately $30,000. GAMMA Investing LLC boosted its stake in Mueller Industries by 36.0% in the 3rd quarter. GAMMA Investing LLC now owns 552 shares of the industrial products company’s stock worth $41,000 after purchasing an additional 146 shares in the last quarter. Finally, Harbor Capital Advisors Inc. acquired a new stake in Mueller Industries in the 3rd quarter worth approximately $64,000. Hedge funds and other institutional investors own 94.50% of the company’s stock.

Insider Activity

In other news, Director John B. Hansen sold 1,000 shares of the company’s stock in a transaction on Wednesday, October 30th. The shares were sold at an average price of $83.09, for a total transaction of $83,090.00. Following the completion of the sale, the director now owns 94,914 shares of the company’s stock, valued at $7,886,404.26. This represents a 1.04 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Charles P. Herzog, Jr. sold 15,000 shares of the company’s stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $92.04, for a total transaction of $1,380,600.00. Following the sale, the director now directly owns 17,733 shares of the company’s stock, valued at $1,632,145.32. The trade was a 45.83 % decrease in their position. The disclosure for this sale can be found here. Insiders own 2.80% of the company’s stock.

Mueller Industries Trading Down 0.6 %

Shares of NYSE MLI opened at $80.83 on Friday. Mueller Industries, Inc. has a 12 month low of $40.52 and a 12 month high of $96.81. The company has a 50 day simple moving average of $80.22 and a two-hundred day simple moving average of $68.83. The stock has a market cap of $9.19 billion, a price-to-earnings ratio of 15.70 and a beta of 1.01.

Mueller Industries (NYSE:MLI) last announced its quarterly earnings data on Tuesday, October 22nd. The industrial products company reported $1.48 EPS for the quarter, beating the consensus estimate of $1.32 by $0.16. Mueller Industries had a net margin of 16.39% and a return on equity of 23.25%. The business had revenue of $997.80 million during the quarter, compared to analysts’ expectations of $936.00 million. The firm’s revenue was up 21.7% on a year-over-year basis.

Mueller Industries Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Friday, December 6th will be issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 0.99%. The ex-dividend date is Friday, December 6th. Mueller Industries’s dividend payout ratio (DPR) is 15.53%.

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.