Public Employees Retirement System of Ohio Buys 33,655 Shares of Mueller Industries, Inc. $MLI

Key Points

• The Public Employees Retirement System of Ohio significantly increased its holdings in Mueller Industries by 1,345.1% during the 2nd quarter, now owning 36,157 shares valued at approximately $2.87 million.
• Mueller Industries reported a quarterly earnings per share (EPS) of $1.96, surpassing analysts' expectations of $1.62, along with a revenue increase of 14.1% from the previous year.
• The company recently declared a quarterly dividend of $0.25 per share, equivalent to an annual yield of 1.0%, with a dividend payout ratio of 15.87%.

Public Employees Retirement System of Ohio raised its stake in shares of Mueller Industries, Inc. (NYSE:MLI - Free Report) by 1,345.1% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 36,157 shares of the industrial products company's stock after buying an additional 33,655 shares during the period. Public Employees Retirement System of Ohio's holdings in Mueller Industries were worth $2,873,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Invesco Ltd. increased its stake in shares of Mueller Industries by 0.4% in the first quarter. Invesco Ltd. now owns 2,799,575 shares of the industrial products company's stock worth $213,160,000 after purchasing an additional 10,968 shares during the period. Caisse DE Depot ET Placement DU Quebec increased its stake in shares of Mueller Industries by 15.7% in the first quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,224,842 shares of the industrial products company's stock worth $93,259,000 after purchasing an additional 166,012 shares during the period. Systematic Financial Management LP increased its stake in shares of Mueller Industries by 1.0% in the first quarter. Systematic Financial Management LP now owns 957,113 shares of the industrial products company's stock worth $72,875,000 after purchasing an additional 9,463 shares during the period. Nuveen LLC bought a new position in shares of Mueller Industries in the first quarter worth about $54,072,000. Finally, Epoch Investment Partners Inc. increased its stake in shares of Mueller Industries by 222.8% in the first quarter. Epoch Investment Partners Inc. now owns 597,704 shares of the industrial products company's stock worth $45,509,000 after purchasing an additional 412,564 shares during the period. 94.50% of the stock is currently owned by institutional investors.

Mueller Industries Stock Performance

Mueller Industries stock opened at $99.98 on Thursday. The business's 50-day simple moving average is $94.37 and its 200-day simple moving average is $83.20. The firm has a market capitalization of $11.07 billion, a PE ratio of 15.87 and a beta of 1.02. Mueller Industries, Inc. has a 52 week low of $66.84 and a 52 week high of $102.75.

Mueller Industries (NYSE:MLI - Get Free Report) last posted its quarterly earnings data on Tuesday, July 22nd. The industrial products company reported $1.96 EPS for the quarter, topping analysts' consensus estimates of $1.62 by $0.34. The business had revenue of $1.14 billion for the quarter, compared to analyst estimates of $1.12 billion. Mueller Industries had a return on equity of 24.47% and a net margin of 17.48%.The firm's revenue was up 14.1% compared to the same quarter last year.

Mueller Industries Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, September 19th. Investors of record on Friday, September 5th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, September 5th. This represents a $1.00 dividend on an annualized basis and a yield of 1.0%. Mueller Industries's dividend payout ratio (DPR) is 15.87%.

Insiders Place Their Bets

In related news, Director John B. Hansen sold 1,000 shares of Mueller Industries stock in a transaction dated Tuesday, August 12th. The stock was sold at an average price of $91.97, for a total transaction of $91,970.00. Following the sale, the director directly owned 92,664 shares of the company's stock, valued at $8,522,308.08. This trade represents a 1.07% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.70% of the stock is currently owned by company insiders.

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.

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