Illinois Municipal Retirement Fund Boosts Position in Mueller Industries, Inc. (NYSE:MLI)

Illinois Municipal Retirement Fund raised its holdings in shares of Mueller Industries, Inc. (NYSE:MLI) by 92.1% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 65,098 shares of the industrial products company’s stock after purchasing an additional 31,215 shares during the period. Illinois Municipal Retirement Fund owned 0.06% of Mueller Industries worth $3,069,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in MLI. SG Americas Securities LLC purchased a new position in Mueller Industries during the 3rd quarter valued at about $1,093,000. Measured Wealth Private Client Group LLC increased its position in Mueller Industries by 11.1% during the 3rd quarter. Measured Wealth Private Client Group LLC now owns 5,226 shares of the industrial products company’s stock valued at $393,000 after purchasing an additional 522 shares during the period. Linden Thomas Advisory Services LLC purchased a new position in Mueller Industries during the 3rd quarter valued at about $705,000. Deltec Asset Management LLC purchased a new position in Mueller Industries during the 3rd quarter valued at about $286,000. Finally, Raymond James & Associates increased its position in Mueller Industries by 9.8% during the 3rd quarter. Raymond James & Associates now owns 31,023 shares of the industrial products company’s stock valued at $2,332,000 after purchasing an additional 2,763 shares during the period. Hedge funds and other institutional investors own 94.50% of the company’s stock.

Analyst Ratings Changes

MLI has been the topic of a number of analyst reports. Northcoast Research reaffirmed a “neutral” rating on shares of Mueller Industries in a research report on Friday, January 19th. StockNews.com cut shares of Mueller Industries from a “buy” rating to a “hold” rating in a research note on Monday, January 22nd.

Insider Activity

In related news, Director John B. Hansen sold 5,000 shares of the business’s stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $49.33, for a total value of $246,650.00. Following the completion of the sale, the director now owns 18,000 shares of the company’s stock, valued at approximately $887,940. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, Director John B. Hansen sold 5,000 shares of the company’s stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $49.33, for a total transaction of $246,650.00. Following the completion of the sale, the director now owns 18,000 shares of the company’s stock, valued at $887,940. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Jeffrey Andrew Martin sold 47,280 shares of the company’s stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $49.25, for a total transaction of $2,328,540.00. Following the sale, the chief financial officer now directly owns 370,840 shares of the company’s stock, valued at approximately $18,263,870. The disclosure for this sale can be found here. Insiders own 2.80% of the company’s stock.

Mueller Industries Trading Up 0.9 %

Shares of NYSE MLI opened at $57.96 on Thursday. Mueller Industries, Inc. has a 12 month low of $34.08 and a 12 month high of $59.59. The company has a 50 day simple moving average of $51.95 and a two-hundred day simple moving average of $46.70. The stock has a market cap of $6.58 billion, a price-to-earnings ratio of 11.62 and a beta of 1.08.

Mueller Industries (NYSE:MLI) last announced its quarterly earnings data on Tuesday, February 6th. The industrial products company reported $1.05 EPS for the quarter. The business had revenue of $732.38 million during the quarter. Mueller Industries had a net margin of 17.22% and a return on equity of 24.69%.

Mueller Industries Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 15th were issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 1.38%. This is a positive change from Mueller Industries’s previous quarterly dividend of $0.15. The ex-dividend date of this dividend was Thursday, March 14th. Mueller Industries’s payout ratio is 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.