Mueller Industries, Inc. $MLI Shares Sold by New York State Common Retirement Fund

New York State Common Retirement Fund cut its stake in Mueller Industries, Inc. (NYSE:MLI) by 5.6% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 372,601 shares of the industrial products company’s stock after selling 22,251 shares during the period. New York State Common Retirement Fund’s holdings in Mueller Industries were worth $37,674,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently added to or reduced their stakes in the company. Valeo Financial Advisors LLC purchased a new stake in Mueller Industries in the 3rd quarter valued at $228,000. Barlow Wealth Partners Inc. boosted its position in shares of Mueller Industries by 1.7% during the 3rd quarter. Barlow Wealth Partners Inc. now owns 299,174 shares of the industrial products company’s stock valued at $31,177,000 after acquiring an additional 4,931 shares during the last quarter. Envestnet Portfolio Solutions Inc. grew its holdings in shares of Mueller Industries by 9.2% in the third quarter. Envestnet Portfolio Solutions Inc. now owns 8,625 shares of the industrial products company’s stock valued at $872,000 after purchasing an additional 730 shares during the period. Covestor Ltd increased its position in Mueller Industries by 5.1% during the third quarter. Covestor Ltd now owns 2,162 shares of the industrial products company’s stock worth $218,000 after purchasing an additional 105 shares during the last quarter. Finally, Millington Financial Advisors LLC raised its stake in Mueller Industries by 0.7% during the third quarter. Millington Financial Advisors LLC now owns 33,276 shares of the industrial products company’s stock worth $3,268,000 after purchasing an additional 223 shares during the period. Hedge funds and other institutional investors own 94.50% of the company’s stock.

Insider Transactions at Mueller Industries

In other Mueller Industries news, Director Scott Jay Goldman sold 4,234 shares of the company’s stock in a transaction on Tuesday, November 25th. The stock was sold at an average price of $108.64, for a total transaction of $459,981.76. Following the transaction, the director directly owned 41,745 shares in the company, valued at $4,535,176.80. This represents a 9.21% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 2.70% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reissued a “buy (b)” rating on shares of Mueller Industries in a research note on Thursday, January 22nd. One research analyst has rated the stock with a Buy rating, According to MarketBeat.com, the stock presently has a consensus rating of “Buy”.

Mueller Industries Price Performance

Shares of MLI stock opened at $136.06 on Friday. Mueller Industries, Inc. has a 1-year low of $66.84 and a 1-year high of $137.64. The firm has a market cap of $15.10 billion, a PE ratio of 20.31 and a beta of 1.04. The company has a 50-day moving average of $119.91 and a two-hundred day moving average of $105.17.

Mueller Industries Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, December 19th. Shareholders of record on Friday, December 5th were given a $0.25 dividend. The ex-dividend date of this dividend was Friday, December 5th. This represents a $1.00 dividend on an annualized basis and a yield of 0.7%. Mueller Industries’s payout ratio is presently 14.93%.

About Mueller Industries

Mueller Industries, Inc is a diversified manufacturer and marketer of copper, brass, aluminum and plastic products. Headquartered in Memphis, Tennessee, the company serves a wide range of markets including HVAC (heating, ventilation and air conditioning), refrigeration, plumbing, industrial gas, automotive and agricultural sectors. Its product portfolio encompasses copper and plastic tubing, brass fittings, valves and related components designed for fluid handling and temperature control applications.

The company operates through multiple business segments, including the Plumbing & Refrigeration segment, which supplies copper and plastic tubing, fittings and valves for residential and commercial construction markets; the Industrial Metals & Mining segment, which provides aluminum shapes and specialty brass products for industrial applications; and the Climate segment, which focuses on copper tubing and components for air conditioning and refrigeration systems.