Commonwealth of Pennsylvania Public School Empls Retrmt SYS Boosts Stock Holdings in Mueller Industries, Inc. (NYSE:MLI)

Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its position in Mueller Industries, Inc. (NYSE:MLI) by 3.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 25,119 shares of the industrial products company’s stock after purchasing an additional 896 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in Mueller Industries were worth $1,993,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. State Street Corp increased its stake in Mueller Industries by 3.2% in the 3rd quarter. State Street Corp now owns 4,451,143 shares of the industrial products company’s stock valued at $329,830,000 after buying an additional 139,406 shares during the last quarter. Flagship Harbor Advisors LLC purchased a new stake in shares of Mueller Industries during the fourth quarter valued at approximately $300,000. Merit Financial Group LLC bought a new stake in Mueller Industries during the fourth quarter worth $287,000. Rhumbline Advisers boosted its position in Mueller Industries by 13.7% in the fourth quarter. Rhumbline Advisers now owns 364,095 shares of the industrial products company’s stock worth $28,895,000 after purchasing an additional 43,893 shares during the last quarter. Finally, US Bancorp DE grew its stake in Mueller Industries by 3.0% in the 4th quarter. US Bancorp DE now owns 18,278 shares of the industrial products company’s stock valued at $1,451,000 after purchasing an additional 537 shares during the period. 94.50% of the stock is owned by institutional investors.

Insider Activity at Mueller Industries

In other Mueller Industries news, Director Scott Jay Goldman sold 10,000 shares of the business’s stock in a transaction on Thursday, February 13th. The shares were sold at an average price of $79.81, for a total transaction of $798,100.00. Following the sale, the director now owns 56,098 shares of the company’s stock, valued at $4,477,181.38. The trade was a 15.13 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 2.80% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

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

Mueller Industries Stock Up 2.9 %

Mueller Industries stock opened at $79.46 on Tuesday. The firm has a 50 day moving average price of $80.19 and a 200-day moving average price of $79.48. Mueller Industries, Inc. has a twelve month low of $50.85 and a twelve month high of $96.81. The company has a market capitalization of $9.00 billion, a P/E ratio of 14.96 and a beta of 0.99.

Mueller Industries (NYSE:MLI) last announced its quarterly earnings data on Tuesday, February 4th. The industrial products company reported $1.21 earnings per share for the quarter, beating the consensus estimate 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. Investors of record on Friday, March 14th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $1.00 annualized dividend and a yield of 1.26%. This is a positive change from Mueller Industries’s previous quarterly dividend of $0.20. Mueller Industries’s dividend payout ratio (DPR) is 18.83%.

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.