Mueller Industries, Inc. $MLI Stake Cut by Strs Ohio

Strs Ohio cut its holdings in shares of Mueller Industries, Inc. (NYSE:MLI) by 87.6% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 2,593 shares of the industrial products company’s stock after selling 18,242 shares during the quarter. Strs Ohio’s holdings in Mueller Industries were worth $262,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Norges Bank purchased a new stake in shares of Mueller Industries in the second quarter worth approximately $127,287,000. Qube Research & Technologies Ltd acquired a new position in Mueller Industries in the 2nd quarter valued at approximately $75,901,000. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in Mueller Industries in the 2nd quarter valued at approximately $54,751,000. Vaughan Nelson Investment Management L.P. purchased a new stake in Mueller Industries in the 3rd quarter worth approximately $51,789,000. Finally, Cubist Systematic Strategies LLC acquired a new stake in shares of Mueller Industries during the 2nd quarter valued at $36,974,000. Hedge funds and other institutional investors own 94.50% of the company’s stock.

Mueller Industries Stock Down 1.0%

NYSE MLI opened at $136.06 on Monday. The stock has a market capitalization of $15.10 billion, a PE ratio of 20.31 and a beta of 1.03. Mueller Industries, Inc. has a 12-month low of $66.84 and a 12-month high of $137.64. The company has a 50 day moving average price of $119.91 and a two-hundred day moving average price of $105.46.

Mueller Industries Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, December 19th. Shareholders of record on Friday, December 5th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.7%. The ex-dividend date of this dividend was Friday, December 5th. Mueller Industries’s dividend payout ratio is presently 14.93%.

Insider Buying and Selling

In other Mueller Industries news, Director Scott Jay Goldman sold 4,234 shares of the firm’s stock in a transaction dated Tuesday, November 25th. The stock was sold at an average price of $108.64, for a total transaction of $459,981.76. Following the transaction, the director directly owned 41,745 shares in the company, valued at $4,535,176.80. This trade represents a 9.21% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 2.70% of the stock is owned by insiders.

Analysts Set New Price Targets

Separately, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Mueller Industries in a research note on Thursday, January 22nd. One analyst has rated the stock with a Buy rating, According to MarketBeat, Mueller Industries presently has a consensus rating of “Buy”.

Mueller Industries Company Profile

Mueller Industries, Inc is a diversified manufacturer and marketer of copper, brass, aluminum and plastic products. Headquartered in Memphis, Tennessee, the company serves a wide range of markets including HVAC (heating, ventilation and air conditioning), refrigeration, plumbing, industrial gas, automotive and agricultural sectors. Its product portfolio encompasses copper and plastic tubing, brass fittings, valves and related components designed for fluid handling and temperature control applications.

The company operates through multiple business segments, including the Plumbing & Refrigeration segment, which supplies copper and plastic tubing, fittings and valves for residential and commercial construction markets; the Industrial Metals & Mining segment, which provides aluminum shapes and specialty brass products for industrial applications; and the Climate segment, which focuses on copper tubing and components for air conditioning and refrigeration systems.