Mueller Industries, Inc. (NYSE:MLI) Position Lowered by Public Employees Retirement System of Ohio

Public Employees Retirement System of Ohio reduced its position in Mueller Industries, Inc. (NYSE:MLI) by 39.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,025 shares of the industrial products company’s stock after selling 1,995 shares during the quarter. Public Employees Retirement System of Ohio’s holdings in Mueller Industries were worth $224,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. International Assets Investment Management LLC bought a new stake in shares of Mueller Industries in the 2nd quarter valued at approximately $26,000. Federated Hermes Inc. acquired a new position in Mueller Industries in the second quarter worth $28,000. GAMMA Investing LLC increased its stake in Mueller Industries by 36.0% during the third quarter. GAMMA Investing LLC now owns 552 shares of the industrial products company’s stock valued at $41,000 after purchasing an additional 146 shares during the last quarter. Harbor Capital Advisors Inc. acquired a new stake in shares of Mueller Industries during the third quarter worth $64,000. Finally, Larson Financial Group LLC lifted its holdings in Mueller Industries by 61.7% in the second quarter. Larson Financial Group LLC now owns 967 shares of the industrial products company’s stock worth $55,000 after acquiring an additional 369 shares during the last quarter. Institutional investors and hedge funds own 94.50% of the company’s stock.

Insider Activity

In other news, Director Charles P. Herzog, Jr. sold 15,000 shares of the company’s stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $92.04, for a total transaction of $1,380,600.00. Following the completion of the sale, the director now directly owns 17,733 shares of the company’s stock, valued at $1,632,145.32. This represents a 45.83 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director John B. Hansen sold 1,000 shares of Mueller Industries stock in a transaction dated Wednesday, October 30th. The stock was sold at an average price of $83.09, for a total value of $83,090.00. Following the completion of the transaction, the director now directly owns 94,914 shares in the company, valued at $7,886,404.26. This represents a 1.04 % decrease in their position. The disclosure for this sale can be found here. Insiders own 2.80% of the company’s stock.

Mueller Industries Price Performance

NYSE MLI opened at $80.18 on Friday. Mueller Industries, Inc. has a 12 month low of $44.39 and a 12 month high of $96.81. The firm has a market capitalization of $9.12 billion, a PE ratio of 15.57 and a beta of 0.99. The company’s 50 day simple moving average is $83.08 and its 200 day simple moving average is $71.39.

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

Mueller Industries Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, December 20th. Shareholders of record on Friday, December 6th were issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 1.00%. The ex-dividend date was Friday, December 6th. Mueller Industries’s payout ratio is 15.53%.

Analyst Ratings Changes

Separately, Northcoast Research upgraded shares of Mueller Industries from a “neutral” rating to a “buy” rating and set a $105.00 price objective on the stock in a research report on Wednesday, December 11th.

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.