Public Sector Pension Investment Board Reduces Position in Mueller Industries, Inc. (NYSE:MLI)

Public Sector Pension Investment Board decreased its position in shares of Mueller Industries, Inc. (NYSE:MLI) by 3.8% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 240,432 shares of the industrial products company’s stock after selling 9,500 shares during the quarter. Public Sector Pension Investment Board’s holdings in Mueller Industries were worth $17,816,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. GAMMA Investing LLC lifted its position in Mueller Industries by 36.0% in the third quarter. GAMMA Investing LLC now owns 552 shares of the industrial products company’s stock valued at $41,000 after buying an additional 146 shares during the last quarter. Miller Howard Investments Inc. NY increased its stake in Mueller Industries by 2.1% during the second quarter. Miller Howard Investments Inc. NY now owns 7,188 shares of the industrial products company’s stock worth $409,000 after purchasing an additional 151 shares during the period. Kapitalo Investimentos Ltda increased its stake in Mueller Industries by 3.5% during the third quarter. Kapitalo Investimentos Ltda now owns 4,582 shares of the industrial products company’s stock worth $340,000 after purchasing an additional 156 shares during the period. GM Advisory Group LLC increased its stake in shares of Mueller Industries by 5.3% during the third quarter. GM Advisory Group LLC now owns 3,792 shares of the industrial products company’s stock worth $281,000 after buying an additional 192 shares during the period. Finally, Summit Global Investments increased its stake in shares of Mueller Industries by 1.6% during the second quarter. Summit Global Investments now owns 12,844 shares of the industrial products company’s stock worth $731,000 after buying an additional 204 shares during the period. Institutional investors and hedge funds own 94.50% of the company’s stock.

Insider Buying and Selling at Mueller Industries

In other Mueller Industries news, Director Charles P. Herzog, Jr. sold 15,000 shares of the stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $92.04, for a total value of $1,380,600.00. Following the transaction, the director now directly owns 17,733 shares in the company, valued at $1,632,145.32. This represents a 45.83 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director John B. Hansen sold 1,000 shares of the stock in a transaction that occurred 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 transaction, the director now owns 94,914 shares in the company, valued at $7,886,404.26. This represents a 1.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.80% of the stock is currently owned by insiders.

Mueller Industries Stock Performance

MLI stock opened at $80.83 on Friday. The company’s 50 day moving average price is $80.22 and its 200 day moving average price is $68.83. Mueller Industries, Inc. has a fifty-two week low of $40.52 and a fifty-two week high of $96.81. The firm has a market capitalization of $9.19 billion, a price-to-earnings ratio of 15.70 and a beta of 1.01.

Mueller Industries (NYSE:MLI) last released its earnings results on Tuesday, October 22nd. The industrial products company reported $1.48 earnings per share for the quarter, topping analysts’ consensus estimates of $1.32 by $0.16. Mueller Industries had a net margin of 16.39% and a return on equity of 23.25%. The firm had revenue of $997.80 million for the quarter, compared to analyst estimates of $936.00 million. The firm’s revenue was up 21.7% compared to the same quarter last year.

Mueller Industries Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Friday, December 6th will be paid a $0.20 dividend. The ex-dividend date is Friday, December 6th. This represents a $0.80 annualized dividend and a yield of 0.99%. Mueller Industries’s dividend payout ratio is currently 15.53%.

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.