Mueller Industries, Inc. (NYSE:MLI) Shares Sold by New York State Teachers Retirement System

New York State Teachers Retirement System lowered its holdings in Mueller Industries, Inc. (NYSE:MLI - Free Report) by 7.0% in the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 152,159 shares of the industrial products company's stock after selling 11,400 shares during the period. New York State Teachers Retirement System owned about 0.14% of Mueller Industries worth $11,585,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Monument Capital Management boosted its holdings in Mueller Industries by 4.4% in the first quarter. Monument Capital Management now owns 4,898 shares of the industrial products company's stock valued at $373,000 after purchasing an additional 206 shares during the last quarter. KBC Group NV boosted its holdings in Mueller Industries by 391.3% in the first quarter. KBC Group NV now owns 20,575 shares of the industrial products company's stock valued at $1,567,000 after purchasing an additional 16,387 shares during the last quarter. Highland Capital Management LLC purchased a new position in Mueller Industries in the first quarter valued at about $212,000. Total Wealth Planning & Management Inc. boosted its holdings 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 purchasing 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 valued at $12,472,000 after purchasing an additional 21,517 shares during the last quarter. Hedge funds and other institutional investors own 94.50% of the company's stock.

Insider Buying and Selling at Mueller Industries

In other Mueller Industries news, Director John B. Hansen sold 3,130 shares of the company's stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $78.07, for a total transaction of $244,359.10. Following the sale, the director owned 93,914 shares in the company, valued at $7,331,865.98. This represents a 3.23% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Scott Jay Goldman sold 16,483 shares of the company's stock in a transaction that occurred on Tuesday, April 29th. The shares were sold at an average price of $73.46, for a total value of $1,210,841.18. Following the sale, the director owned 39,615 shares in the company, valued at $2,910,117.90. The trade was a 29.38% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 29,613 shares of company stock worth $2,198,600 over the last quarter. 2.70% of the stock is owned by corporate insiders.

Mueller Industries Price Performance

MLI traded down $0.54 on Monday, reaching $82.10. The company's stock had a trading volume of 778,964 shares, compared to its average volume of 1,038,071. The stock has a market cap of $9.08 billion, a price-to-earnings ratio of 14.95 and a beta of 1.01. Mueller Industries, Inc. has a 1 year low of $55.72 and a 1 year high of $96.81. The business's 50 day moving average is $77.19 and its 200 day moving average is $77.85.

Mueller Industries (NYSE:MLI - Get Free Report) last announced its quarterly earnings data on Tuesday, April 22nd. The industrial products company reported $1.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.31 by $0.08. Mueller Industries had a return on equity of 23.17% and a net margin of 15.92%. The firm had revenue of $1 billion for the quarter, compared to analysts' expectations of $1 billion.

Mueller Industries Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 20th. Shareholders of record on Friday, June 6th were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 1.22%. The ex-dividend date of this dividend was Friday, June 6th. Mueller Industries's payout ratio is currently 18.21%.

Mueller Industries 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.