Commonwealth of Pennsylvania Public School Empls Retrmt SYS Has $1.99 Million Stake in Mueller Industries, Inc. (NYSE:MLI)

Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its holdings in shares of Mueller Industries, Inc. (NYSE:MLI) by 3.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 25,119 shares of the industrial products company’s stock after acquiring 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 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. State Street Corp grew its stake in Mueller Industries by 3.2% during the third quarter. State Street Corp now owns 4,451,143 shares of the industrial products company’s stock worth $329,830,000 after purchasing an additional 139,406 shares during the period. William Blair Investment Management LLC acquired a new stake in shares of Mueller Industries during the 4th quarter worth approximately $201,376,000. Charles Schwab Investment Management Inc. increased its stake in shares of Mueller Industries by 27.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,469,736 shares of the industrial products company’s stock valued at $108,907,000 after acquiring an additional 315,490 shares in the last quarter. FMR LLC lifted its position in shares of Mueller Industries by 2.6% during the 3rd quarter. FMR LLC now owns 1,066,658 shares of the industrial products company’s stock valued at $79,039,000 after acquiring an additional 27,399 shares during the period. Finally, Systematic Financial Management LP boosted its stake in Mueller Industries by 1.6% during the third quarter. Systematic Financial Management LP now owns 939,342 shares of the industrial products company’s stock worth $69,605,000 after acquiring an additional 14,729 shares in the last quarter. 94.50% of the stock is owned by institutional investors.

Insider Activity

In related news, Director Scott Jay Goldman sold 10,000 shares of the firm’s stock in a transaction dated Thursday, February 13th. The shares were sold at an average price of $79.81, for a total value of $798,100.00. Following the transaction, the director now owns 56,098 shares of the company’s stock, valued at approximately $4,477,181.38. This trade represents a 15.13 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 2.80% of the company’s stock.

Mueller Industries Stock Performance

MLI stock opened at $79.46 on Tuesday. The stock’s 50 day simple moving average is $80.19 and its 200 day simple moving average is $79.48. The company has a market cap of $9.00 billion, a P/E ratio of 14.96 and a beta of 0.99. Mueller Industries, Inc. has a fifty-two week low of $50.85 and a fifty-two week high of $96.81.

Mueller Industries (NYSE:MLI) last issued its earnings results on Tuesday, February 4th. The industrial products company reported $1.21 earnings per share 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 firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, March 14th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.26%. This is a positive change from Mueller Industries’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend is Friday, March 14th. Mueller Industries’s dividend payout ratio (DPR) is 18.83%.

Analyst Upgrades and Downgrades

Separately, Northcoast Research raised shares of 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.