Illinois Municipal Retirement Fund Has $3.07 Million Position in Mueller Industries, Inc. (NYSE:MLI)

Illinois Municipal Retirement Fund raised its stake in shares of Mueller Industries, Inc. (NYSE:MLI) by 92.1% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 65,098 shares of the industrial products company’s stock after buying an additional 31,215 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in Mueller Industries were worth $3,069,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the business. Meritage Portfolio Management lifted its holdings in shares of Mueller Industries by 5.4% during the 3rd quarter. Meritage Portfolio Management now owns 5,265 shares of the industrial products company’s stock valued at $396,000 after purchasing an additional 270 shares in the last quarter. Fifth Third Bancorp increased its holdings in shares of Mueller Industries by 124.3% during the 4th quarter. Fifth Third Bancorp now owns 527 shares of the industrial products company’s stock worth $25,000 after acquiring an additional 292 shares during the last quarter. Navellier & Associates Inc. increased its holdings in shares of Mueller Industries by 4.5% during the 3rd quarter. Navellier & Associates Inc. now owns 6,984 shares of the industrial products company’s stock worth $525,000 after acquiring an additional 301 shares during the last quarter. Vanguard Personalized Indexing Management LLC increased its holdings in shares of Mueller Industries by 5.7% during the 3rd quarter. Vanguard Personalized Indexing Management LLC now owns 6,239 shares of the industrial products company’s stock worth $469,000 after acquiring an additional 337 shares during the last quarter. Finally, Beaird Harris Wealth Management LLC acquired a new position in shares of Mueller Industries during the 3rd quarter worth approximately $30,000. Institutional investors own 94.50% of the company’s stock.

Insider Buying and Selling

In related news, Director John B. Hansen sold 5,000 shares of the company’s stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $49.33, for a total transaction of $246,650.00. Following the completion of the sale, the director now directly owns 18,000 shares in the company, valued at approximately $887,940. The sale was disclosed in a filing with the SEC, which is available through this link. In other Mueller Industries news, CFO Jeffrey Andrew Martin sold 47,280 shares of the stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $49.25, for a total value of $2,328,540.00. Following the completion of the transaction, the chief financial officer now directly owns 370,840 shares in the company, valued at $18,263,870. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director John B. Hansen sold 5,000 shares of Mueller Industries stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $49.33, for a total value of $246,650.00. Following the sale, the director now directly owns 18,000 shares in the company, valued at $887,940. The disclosure for this sale can be found here. 2.80% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

MLI has been the topic of a number of recent analyst reports. StockNews.com lowered Mueller Industries from a “buy” rating to a “hold” rating in a report on Monday, January 22nd. Northcoast Research reaffirmed a “neutral” rating on shares of Mueller Industries in a report on Friday, January 19th.

Mueller Industries Price Performance

Shares of NYSE MLI opened at $57.96 on Thursday. The stock’s fifty day moving average price is $51.95 and its two-hundred day moving average price is $46.70. Mueller Industries, Inc. has a one year low of $34.08 and a one year high of $59.59. The firm has a market cap of $6.58 billion, a price-to-earnings ratio of 11.62 and a beta of 1.08.

Mueller Industries (NYSE:MLI) last released its earnings results on Tuesday, February 6th. The industrial products company reported $1.05 earnings per share (EPS) for the quarter. The company had revenue of $732.38 million for the quarter. Mueller Industries had a return on equity of 24.69% and a net margin of 17.22%.

Mueller Industries Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 15th were given a dividend of $0.20 per share. This is an increase from Mueller Industries’s previous quarterly dividend of $0.15. This represents a $0.80 annualized dividend and a dividend yield of 1.38%. The ex-dividend date was Thursday, March 14th. Mueller Industries’s dividend payout ratio is currently 16.03%.

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.