New York State Teachers Retirement System Sells 11,400 Shares of Mueller Industries, Inc. (NYSE:MLI)

New York State Teachers Retirement System lessened its position in shares of Mueller Industries, Inc. (NYSE:MLI) by 7.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 152,159 shares of the industrial products company’s stock after selling 11,400 shares during the quarter. New York State Teachers Retirement System’s holdings in Mueller Industries were worth $11,585,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Monument Capital Management increased its position in shares of Mueller Industries by 4.4% during the first quarter. Monument Capital Management now owns 4,898 shares of the industrial products company’s stock worth $373,000 after purchasing an additional 206 shares in the last quarter. KBC Group NV grew its stake in Mueller Industries by 391.3% during the 1st quarter. KBC Group NV now owns 20,575 shares of the industrial products company’s stock worth $1,567,000 after buying an additional 16,387 shares during the last quarter. Highland Capital Management LLC acquired a new position in Mueller Industries during the 1st quarter valued at about $212,000. Total Wealth Planning & Management Inc. raised its stake in Mueller Industries by 16.2% in the first quarter. Total Wealth Planning & Management Inc. now owns 5,804 shares of the industrial products company’s stock valued at $442,000 after buying an additional 809 shares during the last quarter. Finally, Perpetual Ltd boosted its holdings in Mueller Industries by 15.1% in the first quarter. Perpetual Ltd now owns 163,804 shares of the industrial products company’s stock worth $12,472,000 after acquiring an additional 21,517 shares in the last quarter. Hedge funds and other institutional investors own 94.50% of the company’s stock.

Insider Activity

In other Mueller Industries news, Director Scott Jay Goldman sold 16,483 shares of the stock in a transaction dated Tuesday, April 29th. The stock was sold at an average price of $73.46, for a total transaction of $1,210,841.18. Following the sale, the director directly owned 39,615 shares of the company’s stock, valued at approximately $2,910,117.90. This trade represents a 29.38% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Terry Hermanson sold 10,000 shares of Mueller Industries stock in a transaction that occurred on Tuesday, May 6th. The shares were sold at an average price of $74.34, for a total value of $743,400.00. Following the transaction, the director owned 100,082 shares of the company’s stock, valued at approximately $7,440,095.88. This represents a 9.08% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 29,613 shares of company stock valued at $2,198,600 in the last ninety days. Insiders own 2.70% of the company’s stock.

Mueller Industries Trading Up 0.9%

NYSE:MLI opened at $83.87 on Friday. The company has a market cap of $9.28 billion, a PE ratio of 15.28 and a beta of 1.01. Mueller Industries, Inc. has a twelve month low of $55.72 and a twelve month high of $96.81. The company’s 50 day moving average is $76.79 and its two-hundred day moving average is $77.84.

Mueller Industries (NYSE:MLI) last issued its quarterly earnings results on Tuesday, April 22nd. The industrial products company reported $1.39 EPS for the quarter, topping analysts’ consensus estimates of $1.31 by $0.08. The company had revenue of $1 billion during the quarter, compared to analysts’ expectations of $1 billion. Mueller Industries had a return on equity of 23.17% and a net margin of 15.92%.

Mueller Industries Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 20th. Investors of record on Friday, June 6th were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.19%. The ex-dividend date was Friday, June 6th. Mueller Industries’s dividend payout ratio (DPR) is 18.21%.

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.