Louisiana State Employees Retirement System Has $2.47 Million Stock Position in Mueller Industries, Inc. $MLI

Louisiana State Employees Retirement System lowered its stake in Mueller Industries, Inc. (NYSE:MLI) by 2.5% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 31,100 shares of the industrial products company’s stock after selling 800 shares during the period. Louisiana State Employees Retirement System’s holdings in Mueller Industries were worth $2,472,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of the business. Contravisory Investment Management Inc. raised its stake in shares of Mueller Industries by 6.2% during the second quarter. Contravisory Investment Management Inc. now owns 2,611 shares of the industrial products company’s stock valued at $207,000 after acquiring an additional 152 shares during the last quarter. Golden State Wealth Management LLC raised its stake in shares of Mueller Industries by 103.1% during the first quarter. Golden State Wealth Management LLC now owns 331 shares of the industrial products company’s stock valued at $25,000 after acquiring an additional 168 shares during the last quarter. Rowlandmiller & PARTNERS.ADV raised its stake in shares of Mueller Industries by 3.4% during the second quarter. Rowlandmiller & PARTNERS.ADV now owns 5,560 shares of the industrial products company’s stock valued at $442,000 after acquiring an additional 185 shares during the last quarter. Hohimer Wealth Management LLC raised its stake in shares of Mueller Industries by 4.4% during the first quarter. Hohimer Wealth Management LLC now owns 4,463 shares of the industrial products company’s stock valued at $340,000 after acquiring an additional 187 shares during the last quarter. Finally, SageView Advisory Group LLC raised its stake in shares of Mueller Industries by 1.9% during the first quarter. SageView Advisory Group LLC now owns 10,043 shares of the industrial products company’s stock valued at $765,000 after acquiring an additional 189 shares during the last quarter. Institutional investors own 94.50% of the company’s stock.

Insiders Place Their Bets

In other Mueller Industries news, Director John B. Hansen sold 1,000 shares of Mueller Industries stock in a transaction on Tuesday, August 12th. The shares were sold at an average price of $91.97, for a total value of $91,970.00. Following the completion of the sale, the director directly owned 92,664 shares of the company’s stock, valued at approximately $8,522,308.08. The trade was a 1.07% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 2.70% of the company’s stock.

Mueller Industries Stock Down 1.1%

Shares of NYSE MLI opened at $96.88 on Friday. Mueller Industries, Inc. has a twelve month low of $66.84 and a twelve month high of $102.75. The firm has a fifty day simple moving average of $96.08 and a 200 day simple moving average of $84.15. The company has a market capitalization of $10.72 billion, a PE ratio of 15.38 and a beta of 1.02.

Mueller Industries (NYSE:MLI) last announced its earnings results on Tuesday, July 22nd. The industrial products company reported $1.96 earnings per share for the quarter, topping analysts’ consensus estimates of $1.62 by $0.34. Mueller Industries had a net margin of 17.48% and a return on equity of 24.47%. The business had revenue of $1.14 billion during the quarter, compared to the consensus estimate of $1.12 billion. The company’s quarterly revenue was up 14.1% compared to the same quarter last year.

Mueller Industries Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 19th. Shareholders of record on Friday, September 5th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.0%. The ex-dividend date of this dividend was Friday, September 5th. Mueller Industries’s payout ratio is 15.87%.

Analyst Ratings Changes

Separately, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Mueller Industries in a research note on Wednesday. Two research analysts have rated the stock with a Buy rating, According to MarketBeat, the company has an average rating of “Buy” and an average price target of $105.00.

Mueller Industries Company 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.