Retirement Systems of Alabama Acquires Shares of 149,660 Mueller Industries, Inc. (NYSE:MLI)

Retirement Systems of Alabama bought a new position in Mueller Industries, Inc. (NYSE:MLI) during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 149,660 shares of the industrial products company’s stock, valued at approximately $11,877,000. Retirement Systems of Alabama owned about 0.13% of Mueller Industries at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the company. Sanctuary Advisors LLC purchased a new stake in shares of Mueller Industries during the 2nd quarter worth approximately $599,000. Park Avenue Securities LLC bought a new stake in Mueller Industries in the third quarter worth $253,000. GAMMA Investing LLC raised its stake in Mueller Industries by 36.0% during the third quarter. GAMMA Investing LLC now owns 552 shares of the industrial products company’s stock valued at $41,000 after purchasing an additional 146 shares in the last quarter. Atomi Financial Group Inc. bought a new position in Mueller Industries during the third quarter valued at $292,000. Finally, Private Advisory Group LLC purchased a new position in shares of Mueller Industries in the 3rd quarter worth $796,000. 94.50% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Mueller Industries news, Director Charles P. Herzog, Jr. sold 15,000 shares of the firm’s stock in a transaction dated 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 completion of the sale, the director now owns 17,733 shares of the company’s stock, valued at $1,632,145.32. This trade represents a 45.83 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 2.80% of the stock is owned by corporate insiders.

Mueller Industries Price Performance

NYSE:MLI opened at $80.30 on Friday. The firm has a market capitalization of $9.13 billion, a price-to-earnings ratio of 15.59 and a beta of 0.98. The business has a 50 day simple moving average of $80.25 and a 200-day simple moving average of $76.89. Mueller Industries, Inc. has a 1 year low of $47.46 and a 1 year high of $96.81.

Mueller Industries (NYSE:MLI) last posted its quarterly earnings data on Tuesday, February 4th. The industrial products company reported $1.21 EPS for the quarter, topping the consensus estimate of $1.12 by $0.09. Mueller Industries had a net margin of 16.39% and a return on equity of 23.25%.

Analysts Set New Price Targets

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

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.