State of New Jersey Common Pension Fund D Decreases Stock Holdings in Mueller Industries, Inc. $MLI

Key Points

• The State of New Jersey Common Pension Fund D reduced its holdings in Mueller Industries, Inc. by 8.7%, selling 3,429 shares during the first quarter, now owning a total of 35,879 shares valued at approximately $2.73 million.
• Despite the decrease by NJ Common Pension Fund D, other investors such as Golden State Wealth Management LLC and Benjamin Edwards Inc. have increased their positions in Mueller Industries.
• Mueller Industries recently reported a strong quarterly earnings performance, with an EPS of $1.96, exceeding estimates, and a revenue of $1.14 billion, reflecting a 14.1% increase year-over-year.

State of New Jersey Common Pension Fund D decreased its holdings in shares of Mueller Industries, Inc. (NYSE:MLI - Free Report) by 8.7% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 35,879 shares of the industrial products company's stock after selling 3,429 shares during the quarter. State of New Jersey Common Pension Fund D's holdings in Mueller Industries were worth $2,732,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of the company. Golden State Wealth Management LLC increased its position 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 valued at $25,000 after acquiring an additional 168 shares during the last quarter. Benjamin Edwards Inc. grew its holdings in Mueller Industries by 5.0% during the 4th quarter. Benjamin Edwards Inc. now owns 3,934 shares of the industrial products company's stock worth $312,000 after acquiring an additional 187 shares in the last quarter. Hohimer Wealth Management LLC grew its holdings in Mueller Industries by 4.4% during the 1st quarter. Hohimer Wealth Management LLC now owns 4,463 shares of the industrial products company's stock worth $340,000 after acquiring an additional 187 shares in the last quarter. Monument Capital Management grew its holdings in Mueller Industries by 4.4% during the 1st quarter. Monument Capital Management now owns 4,898 shares of the industrial products company's stock worth $373,000 after acquiring an additional 206 shares in the last quarter. Finally, Nebula Research & Development LLC lifted its position in shares of Mueller Industries by 1.4% during the fourth quarter. Nebula Research & Development LLC now owns 15,085 shares of the industrial products company's stock valued at $1,197,000 after buying an additional 213 shares during the last quarter. Institutional investors own 94.50% of the company's stock.

Insider Transactions at Mueller Industries

In other news, Director John B. Hansen sold 1,000 shares of the business's stock in a transaction dated Tuesday, August 12th. The shares were sold at an average price of $91.97, for a total transaction of $91,970.00. Following the transaction, the director owned 92,664 shares of the company's stock, valued at approximately $8,522,308.08. The trade was a 1.07% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 2.70% of the stock is currently owned by company insiders.

Mueller Industries Stock Performance

MLI stock opened at $91.6650 on Thursday. The firm has a market cap of $10.15 billion, a price-to-earnings ratio of 14.55 and a beta of 1.02. The firm has a 50-day simple moving average of $84.12 and a two-hundred day simple moving average of $79.50. Mueller Industries, Inc. has a one year low of $65.24 and a one year high of $96.81.

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

Mueller Industries Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, September 19th. Investors of record on Friday, September 5th will be paid a $0.25 dividend. The ex-dividend date of this dividend is Friday, September 5th. This represents a $1.00 dividend on an annualized basis and a yield of 1.1%. Mueller Industries's dividend payout ratio (DPR) is currently 15.87%.

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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