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

Teacher Retirement System of Texas lowered its position in shares of Mueller Industries, Inc. (NYSE:MLI - Free Report) by 14.8% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor 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 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of MLI. Golden State Wealth Management LLC increased its position in shares of Mueller Industries by 103.1% during the 1st quarter. Golden State Wealth Management LLC now owns 331 shares of the industrial products company's stock worth $25,000 after purchasing an additional 168 shares during the last quarter. Arizona State Retirement System increased its position in shares of Mueller Industries by 0.5% during the 4th quarter. Arizona State Retirement System now owns 31,245 shares of the industrial products company's stock worth $2,480,000 after purchasing an additional 170 shares during the last quarter. Benjamin Edwards Inc. increased its position in shares of 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 purchasing an additional 187 shares during the last quarter. Texas Yale Capital Corp. increased its position in shares of Mueller Industries by 6.0% during the 4th quarter. Texas Yale Capital Corp. now owns 3,560 shares of the industrial products company's stock worth $283,000 after purchasing an additional 200 shares during the last quarter. Finally, Monument Capital Management increased its position in shares of 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 purchasing an additional 206 shares during the last quarter. Institutional investors own 94.50% of the company's stock.

Mueller Industries Trading Up 0.7%

Shares of NYSE:MLI traded up $0.63 during trading on Friday, hitting $86.25. 965,822 shares of the company were exchanged, compared to its average volume of 1,043,365. Mueller Industries, Inc. has a fifty-two week low of $58.31 and a fifty-two week high of $96.81. The firm has a fifty day moving average price of $77.87 and a two-hundred day moving average price of $77.98. The stock has a market cap of $9.54 billion, a price-to-earnings ratio of 15.71 and a beta of 1.01.

Mueller Industries (NYSE:MLI - Get Free Report) last released 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. The business had revenue of $1 billion during the quarter, compared to the consensus estimate of $1 billion. Mueller Industries had a return on equity of 23.17% and a net margin of 15.92%.

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. The ex-dividend date of this dividend was Friday, June 6th. This represents a $1.00 dividend on an annualized basis and a yield of 1.16%. Mueller Industries's payout ratio is 18.21%.

Insiders Place Their Bets

In other Mueller Industries news, Director Terry Hermanson sold 10,000 shares of the stock in a transaction dated Tuesday, May 6th. The shares were sold at an average price of $74.34, for a total transaction of $743,400.00. Following the sale, the director directly owned 100,082 shares in the company, valued at $7,440,095.88. This represents a 9.08% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director John B. Hansen sold 3,130 shares of the stock in a transaction dated 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. The trade was a 3.23% decrease in their ownership of the stock. 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 ninety days. Corporate insiders own 2.70% of the company's stock.

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.