3,792 Shares in Mueller Industries, Inc. $MLI Purchased by North Dakota State Investment Board

North Dakota State Investment Board bought a new position in Mueller Industries, Inc. (NYSE:MLI) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 3,792 shares of the industrial products company’s stock, valued at approximately $435,000.

Other large investors also recently modified their holdings of the company. Savant Capital LLC grew its stake in shares of Mueller Industries by 239.2% in the third quarter. Savant Capital LLC now owns 14,145 shares of the industrial products company’s stock worth $1,430,000 after purchasing an additional 9,975 shares during the last quarter. Ballast Asset Management LP bought a new stake in shares of Mueller Industries in the third quarter worth about $3,057,000. Riggs Asset Managment Co. Inc. bought a new stake in shares of Mueller Industries in the third quarter worth about $7,158,000. Pallas Capital Advisors LLC grew its stake in shares of Mueller Industries by 88.4% in the fourth quarter. Pallas Capital Advisors LLC now owns 10,344 shares of the industrial products company’s stock worth $1,187,000 after purchasing an additional 4,853 shares during the last quarter. Finally, Crossmark Global Holdings Inc. grew its stake in shares of Mueller Industries by 337.1% in the fourth quarter. Crossmark Global Holdings Inc. now owns 28,977 shares of the industrial products company’s stock worth $3,327,000 after purchasing an additional 22,347 shares during the last quarter. 94.50% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Mueller Industries news, CEO Gregory L. Christopher sold 103,266 shares of Mueller Industries stock in a transaction that occurred on Monday, April 27th. The stock was sold at an average price of $137.29, for a total transaction of $14,177,389.14. Following the sale, the chief executive officer directly owned 804,911 shares of the company’s stock, valued at approximately $110,506,231.19. The trade was a 11.37% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 2.30% of the company’s stock.

Analyst Ratings Changes

Several analysts recently issued reports on the company. Weiss Ratings reissued a “buy (b)” rating on shares of Mueller Industries in a research note on Tuesday, April 21st. Wall Street Zen raised Mueller Industries from a “buy” rating to a “strong-buy” rating in a research report on Sunday, May 17th. One investment analyst has rated the stock with a Buy rating, According to data from MarketBeat, Mueller Industries currently has an average rating of “Buy”.

Mueller Industries Stock Performance

Mueller Industries stock opened at $133.29 on Friday. The stock’s 50 day simple moving average is $123.76 and its two-hundred day simple moving average is $119.67. The stock has a market cap of $14.74 billion, a price-to-earnings ratio of 17.45 and a beta of 1.13. Mueller Industries, Inc. has a fifty-two week low of $72.16 and a fifty-two week high of $141.51.

Mueller Industries (NYSE:MLI) last posted its quarterly earnings data on Tuesday, April 21st. The industrial products company reported $2.16 earnings per share for the quarter, beating the consensus estimate of $1.49 by $0.67. The business had revenue of $1.19 billion for the quarter, compared to analysts’ expectations of $1.10 billion. Mueller Industries had a return on equity of 25.97% and a net margin of 19.37%.The business’s revenue was up 19.3% on a year-over-year basis. During the same period in the previous year, the firm posted $1.39 EPS.

Mueller Industries Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 19th. Shareholders of record on Friday, June 5th will be given a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 1.1%. The ex-dividend date of this dividend is Friday, June 5th. Mueller Industries’s payout ratio is presently 18.32%.

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.