Mueller Industries, Inc. (NYSE:MLI) Shares Sold by Louisiana State Employees Retirement System

Louisiana State Employees Retirement System cut its holdings in Mueller Industries, Inc. (NYSE:MLI) by 4.2% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 54,800 shares of the industrial products company’s stock after selling 2,400 shares during the period. Louisiana State Employees Retirement System’s holdings in Mueller Industries were worth $4,061,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. International Assets Investment Management LLC acquired a new position in shares of Mueller Industries in the 2nd quarter valued at about $26,000. Federated Hermes Inc. acquired a new position in shares of Mueller Industries in the 2nd quarter valued at about $28,000. Opal Wealth Advisors LLC acquired a new position in shares of Mueller Industries in the 2nd quarter valued at about $30,000. GAMMA Investing LLC boosted its holdings in shares of Mueller Industries by 36.0% in the 3rd quarter. GAMMA Investing LLC now owns 552 shares of the industrial products company’s stock valued at $41,000 after buying an additional 146 shares during the period. Finally, Larson Financial Group LLC boosted its holdings in shares of Mueller Industries by 61.7% in the 2nd quarter. Larson Financial Group LLC now owns 967 shares of the industrial products company’s stock valued at $55,000 after buying an additional 369 shares during the period. 94.50% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Mueller Industries

In other Mueller Industries news, CEO Gregory L. Christopher sold 50,000 shares of the business’s stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $69.92, for a total transaction of $3,496,000.00. Following the completion of the transaction, the chief executive officer now directly owns 1,214,311 shares of the company’s stock, valued at $84,904,625.12. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Mueller Industries news, CEO Gregory L. Christopher sold 50,000 shares of the business’s stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $69.92, for a total transaction of $3,496,000.00. Following the sale, the chief executive officer now directly owns 1,214,311 shares in the company, valued at approximately $84,904,625.12. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Gregory L. Christopher sold 45,000 shares of the business’s stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $67.73, for a total transaction of $3,047,850.00. Following the sale, the chief executive officer now owns 1,264,311 shares in the company, valued at $85,631,784.03. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 103,000 shares of company stock valued at $7,081,770 in the last ninety days. Company insiders own 2.80% of the company’s stock.

Mueller Industries Stock Performance

NYSE MLI opened at $81.85 on Friday. The company has a 50-day simple moving average of $71.78 and a 200-day simple moving average of $63.66. The firm has a market capitalization of $9.28 billion, a PE ratio of 15.89 and a beta of 1.03. Mueller Industries, Inc. has a one year low of $36.88 and a one year high of $84.11.

Mueller Industries (NYSE:MLI) last posted its earnings results on Tuesday, October 22nd. The industrial products company reported $1.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.32 by $0.16. The firm had revenue of $997.80 million during the quarter, compared to analyst estimates of $936.00 million. Mueller Industries had a net margin of 16.39% and a return on equity of 23.25%. The firm’s revenue was up 21.7% compared to the same quarter last year.

Mueller Industries Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 20th. Shareholders of record on Friday, September 6th were paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 0.98%. The ex-dividend date of this dividend was Friday, September 6th. Mueller Industries’s payout ratio is 15.53%.

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.