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

New York State Teachers Retirement System cut its holdings in Mueller Industries, Inc. (NYSE:MLI - Free Report) by 7.0% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor 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 approximately 0.14% of Mueller Industries worth $11,585,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of the business. Golden State Wealth Management LLC grew its stake in Mueller Industries by 103.1% during the first quarter. Golden State Wealth Management LLC now owns 331 shares of the industrial products company's stock worth $25,000 after buying an additional 168 shares in the last quarter. New Age Alpha Advisors LLC acquired a new stake in Mueller Industries during the fourth quarter worth about $32,000. Opal Wealth Advisors LLC acquired a new stake in Mueller Industries during the first quarter worth about $40,000. Quarry LP acquired a new stake in Mueller Industries during the fourth quarter worth about $45,000. Finally, SBI Securities Co. Ltd. acquired a new stake in Mueller Industries during the fourth quarter worth about $47,000. 94.50% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Scott Jay Goldman sold 16,483 shares of the firm'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 directly owned 39,615 shares in the company, valued at approximately $2,910,117.90. This trade represents a 29.38% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director John B. Hansen sold 3,130 shares of the firm's stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $78.07, for a total transaction of $244,359.10. Following the completion of the sale, the director owned 93,914 shares in the company, valued at approximately $7,331,865.98. The trade was a 3.23% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 29,613 shares of company stock worth $2,198,600. Corporate insiders own 2.70% of the company's stock.

Mueller Industries Trading Up 0.9%

Mueller Industries stock traded up $0.72 during trading hours on Friday, reaching $83.87. 533,525 shares of the stock were exchanged, compared to its average volume of 1,039,111. The company has a market cap of $9.28 billion, a P/E 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 stock has a 50 day moving average of $77.01 and a two-hundred day moving average of $77.85.

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

Mueller Industries Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 20th. Stockholders of record on Friday, June 6th were paid a $0.25 dividend. The ex-dividend date of this dividend was Friday, June 6th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.19%. Mueller Industries's payout ratio is currently 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.