Maryland State Retirement & Pension System Decreases Stock Holdings in Mueller Industries, Inc. (NYSE:MLI)

Maryland State Retirement & Pension System trimmed its holdings in Mueller Industries, Inc. (NYSE:MLI) by 3.2% during the second quarter, HoldingsChannel reports. The firm owned 39,607 shares of the industrial products company’s stock after selling 1,302 shares during the period. Maryland State Retirement & Pension System’s holdings in Mueller Industries were worth $2,255,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. International Assets Investment Management LLC purchased a new position in Mueller Industries in the 2nd quarter worth approximately $26,000. Opal Wealth Advisors LLC acquired a new stake in shares of Mueller Industries during the 2nd quarter worth approximately $30,000. Montag A & Associates Inc. acquired a new stake in shares of Mueller Industries during the 4th quarter worth approximately $34,000. LifeSteps Financial Inc. acquired a new stake in shares of Mueller Industries during the 1st quarter worth approximately $43,000. Finally, CWM LLC increased its holdings in shares of Mueller Industries by 36.9% during the 1st quarter. CWM LLC now owns 827 shares of the industrial products company’s stock worth $45,000 after buying an additional 223 shares during the last quarter. 94.50% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Mueller Industries

In other Mueller Industries news, CEO Gregory L. Christopher sold 50,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $69.92, for a total value of $3,496,000.00. Following the completion of the transaction, the chief executive officer now owns 1,214,311 shares of the company’s stock, valued at approximately $84,904,625.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, CEO Gregory L. Christopher sold 45,000 shares of Mueller Industries stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $67.73, for a total transaction of $3,047,850.00. Following the completion of the sale, the chief executive officer now directly owns 1,264,311 shares of the company’s stock, valued at approximately $85,631,784.03. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Gregory L. Christopher sold 50,000 shares of Mueller Industries stock in a transaction on Thursday, August 22nd. The stock was 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 of the company’s stock, valued at $84,904,625.12. The disclosure for this sale can be found here. In the last quarter, insiders sold 103,000 shares of company stock worth $7,081,770. Insiders own 2.80% of the company’s stock.

Mueller Industries Stock Performance

Shares of NYSE MLI traded up $1.35 during midday trading on Friday, reaching $72.71. 602,163 shares of the stock were exchanged, compared to its average volume of 685,217. Mueller Industries, Inc. has a twelve month low of $34.96 and a twelve month high of $72.82. The company has a 50 day simple moving average of $64.56 and a 200 day simple moving average of $57.87. The stock has a market capitalization of $8.26 billion, a P/E ratio of 14.57 and a beta of 1.06.

Mueller Industries (NYSE:MLI) last posted its earnings results on Tuesday, July 23rd. The industrial products company reported $1.41 earnings per share for the quarter, beating the consensus estimate of $1.29 by $0.12. Mueller Industries had a net margin of 16.19% and a return on equity of 22.86%. The firm had revenue of $997.75 million during the quarter.

Mueller Industries Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, September 20th. Investors of record on Friday, September 6th will be issued a $0.20 dividend. The ex-dividend date is Friday, September 6th. This represents a $0.80 annualized dividend and a yield of 1.10%. Mueller Industries’s dividend payout ratio (DPR) is presently 16.03%.

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.