Maryland State Retirement & Pension System Has $1.95 Million Stock Position in Mueller Industries, Inc. (NYSE:MLI)

Maryland State Retirement & Pension System grew its stake in shares of Mueller Industries, Inc. (NYSE:MLI) by 97.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 41,261 shares of the industrial products company’s stock after buying an additional 20,347 shares during the period. Maryland State Retirement & Pension System’s holdings in Mueller Industries were worth $1,945,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the business. Allspring Global Investments Holdings LLC grew its holdings in shares of Mueller Industries by 90.9% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 5,039,933 shares of the industrial products company’s stock valued at $237,633,000 after acquiring an additional 2,399,862 shares in the last quarter. Pacer Advisors Inc. lifted its position in shares of Mueller Industries by 194.4% during the 4th quarter. Pacer Advisors Inc. now owns 2,883,088 shares of the industrial products company’s stock valued at $135,938,000 after acquiring an additional 1,903,745 shares during the period. Victory Capital Management Inc. increased its stake in Mueller Industries by 99.6% in the fourth quarter. Victory Capital Management Inc. now owns 1,666,651 shares of the industrial products company’s stock valued at $78,583,000 after acquiring an additional 831,686 shares during the last quarter. LSV Asset Management lifted its holdings in shares of Mueller Industries by 82.6% in the fourth quarter. LSV Asset Management now owns 1,435,300 shares of the industrial products company’s stock worth $67,674,000 after acquiring an additional 649,250 shares during the last quarter. Finally, Gates Capital Management Inc. raised its position in Mueller Industries by 53.4% in the third quarter. Gates Capital Management Inc. now owns 1,196,744 shares of the industrial products company’s stock valued at $89,947,000 after purchasing an additional 416,700 shares during the last quarter. Institutional investors and hedge funds own 94.50% of the company’s stock.

Mueller Industries Stock Down 0.4 %

Shares of NYSE:MLI traded down $0.22 on Wednesday, hitting $58.43. 37,442 shares of the company traded hands, compared to its average volume of 670,751. The company has a market cap of $6.64 billion, a PE ratio of 11.76 and a beta of 1.08. The stock has a 50 day simple moving average of $53.54 and a 200-day simple moving average of $47.68. Mueller Industries, Inc. has a 52 week low of $34.96 and a 52 week high of $59.59.

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

Mueller Industries Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 15th were issued a dividend of $0.20 per share. The ex-dividend date was Thursday, March 14th. This represents a $0.80 annualized dividend and a dividend yield of 1.37%. This is an increase from Mueller Industries’s previous quarterly dividend of $0.15. Mueller Industries’s dividend payout ratio is 16.03%.

Insider Buying and Selling

In related news, CFO Jeffrey Andrew Martin sold 47,280 shares of the stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $49.25, for a total transaction of $2,328,540.00. Following the sale, the chief financial officer now directly owns 370,840 shares of the company’s stock, valued at $18,263,870. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, Director John B. Hansen sold 4,000 shares of the firm’s stock in a transaction that occurred on Thursday, April 25th. The shares were sold at an average price of $57.29, for a total value of $229,160.00. Following the sale, the director now owns 104,214 shares of the company’s stock, valued at $5,970,420.06. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Jeffrey Andrew Martin sold 47,280 shares of the business’s stock in a transaction that occurred on 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 sale, the chief financial officer now owns 370,840 shares of the company’s stock, valued at approximately $18,263,870. The disclosure for this sale can be found here. Insiders sold 108,716 shares of company stock worth $5,806,311 in the last 90 days. Insiders own 2.80% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on MLI shares. StockNews.com lowered shares of Mueller Industries from a “buy” rating to a “hold” rating in a report on Monday, January 22nd. Northcoast Research restated a “neutral” rating on shares of Mueller Industries in a research report on Friday, January 19th.

Mueller Industries 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.