Teacher Retirement System of Texas Sells 9,061 Shares of Mueller Industries, Inc. (NYSE:MLI)

Teacher Retirement System of Texas lessened its stake in Mueller Industries, Inc. (NYSE:MLI - Free Report) by 14.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 52,073 shares of the industrial products company's stock after selling 9,061 shares during the quarter. Teacher Retirement System of Texas' holdings in Mueller Industries were worth $3,965,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the stock. First Trust Advisors LP boosted its holdings in shares of Mueller Industries by 5.6% in the 4th quarter. First Trust Advisors LP now owns 6,214,930 shares of the industrial products company's stock valued at $493,217,000 after buying an additional 327,479 shares during the last quarter. Invesco Ltd. boosted its holdings in shares of Mueller Industries by 50.3% in the 4th quarter. Invesco Ltd. now owns 2,788,607 shares of the industrial products company's stock valued at $221,304,000 after buying an additional 933,498 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Mueller Industries by 4.5% in the 4th quarter. Geode Capital Management LLC now owns 2,705,588 shares of the industrial products company's stock valued at $214,763,000 after buying an additional 117,327 shares during the last quarter. William Blair Investment Management LLC acquired a new stake in shares of Mueller Industries in the 4th quarter valued at approximately $201,376,000. Finally, FMR LLC boosted its holdings in shares of Mueller Industries by 79.2% in the 4th quarter. FMR LLC now owns 1,911,689 shares of the industrial products company's stock valued at $151,712,000 after buying an additional 845,031 shares during the last quarter. Institutional investors and hedge funds own 94.50% of the company's stock.

Mueller Industries Stock Up 1.4%

Shares of NYSE MLI traded up $1.14 during trading hours on Tuesday, hitting $83.33. The company had a trading volume of 1,102,783 shares, compared to its average volume of 1,032,779. The stock has a market capitalization of $9.22 billion, a P/E ratio of 15.18 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 firm'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 results 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 business had revenue of $1 billion during the quarter, compared to the consensus estimate of $1 billion.

Mueller Industries Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 20th. Shareholders of record on Friday, June 6th were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 1.20%. The ex-dividend date of this dividend was Friday, June 6th. Mueller Industries's dividend payout ratio is 18.21%.

Insider Buying and Selling at Mueller Industries

In other Mueller Industries news, Director John B. Hansen sold 3,130 shares of the stock in a transaction 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 transaction, the director owned 93,914 shares in the company, valued at $7,331,865.98. This trade represents a 3.23% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Scott Jay Goldman sold 16,483 shares of the stock in a transaction on Tuesday, April 29th. The stock was sold at an average price of $73.46, for a total value of $1,210,841.18. Following the transaction, 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 sold 29,613 shares of company stock valued at $2,198,600 in the last quarter. 2.70% of the stock is currently owned by insiders.

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.