Louisiana State Employees Retirement System Makes New Investment in Mueller Industries, Inc. (NYSE:MLI)

Louisiana State Employees Retirement System bought a new position in shares of Mueller Industries, Inc. (NYSE:MLI - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 56,800 shares of the industrial products company's stock, valued at approximately $2,678,000. Louisiana State Employees Retirement System owned about 0.05% of Mueller Industries at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. BlackRock Inc. lifted its position in shares of Mueller Industries by 0.7% during the 1st quarter. BlackRock Inc. now owns 8,779,865 shares of the industrial products company's stock worth $475,606,000 after purchasing an additional 64,501 shares during the last quarter. Vanguard Group Inc. increased its position in Mueller Industries by 1.9% in the 1st quarter. Vanguard Group Inc. now owns 6,341,321 shares of the industrial products company's stock worth $343,510,000 after buying an additional 116,393 shares during the period. Allspring Global Investments Holdings LLC boosted its position in shares of Mueller Industries by 90.9% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 5,039,933 shares of the industrial products company's stock valued at $237,633,000 after acquiring an additional 2,399,862 shares during the period. Pacer Advisors Inc. boosted its position in shares of Mueller Industries by 194.4% in the fourth quarter. Pacer Advisors Inc. now owns 2,883,088 shares of the industrial products company's stock valued at $135,938,000 after acquiring an additional 1,903,745 shares during the period. Finally, First Trust Advisors LP grew its stake in shares of Mueller Industries by 284.1% in the first quarter. First Trust Advisors LP now owns 2,701,964 shares of the industrial products company's stock worth $198,540,000 after acquiring an additional 1,998,534 shares during the last quarter. 94.50% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on MLI. StockNews.com downgraded shares of Mueller Industries from a "buy" rating to a "hold" rating in a report on Monday, January 22nd. Northcoast Research reissued a "neutral" rating on shares of Mueller Industries in a report on Friday, January 19th.

Insider Buying and Selling at Mueller Industries

In other Mueller Industries news, CFO Jeffrey Andrew Martin sold 47,280 shares of the stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $49.25, for a total value of $2,328,540.00. Following the transaction, the chief financial officer now directly owns 370,840 shares in the company, valued at approximately $18,263,870. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, CFO Jeffrey Andrew Martin sold 47,280 shares of the company's stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $49.25, for a total value of $2,328,540.00. Following the completion of the sale, the chief financial officer now owns 370,840 shares in the company, valued at $18,263,870. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director John B. Hansen sold 5,000 shares of the stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $49.33, for a total transaction of $246,650.00. Following the completion of the sale, the director now owns 18,000 shares in the company, valued at $887,940. The disclosure for this sale can be found here. Corporate insiders own 2.80% of the company's stock.

Mueller Industries Stock Up 0.7 %

Mueller Industries stock traded up $0.34 on Tuesday, hitting $52.09. The company's stock had a trading volume of 492,386 shares, compared to its average volume of 651,822. The company has a fifty day moving average price of $51.45 and a 200-day moving average price of $46.01. The firm has a market cap of $5.92 billion, a P/E ratio of 9.74 and a beta of 1.08. Mueller Industries, Inc. has a one year low of $33.59 and a one year high of $54.64.

Mueller Industries (NYSE:MLI - Get Free Report) last posted its quarterly earnings results on Tuesday, February 6th. The industrial products company reported $1.05 earnings per share (EPS) for the quarter. The firm had revenue of $732.38 million during the quarter. Mueller Industries had a net margin of 17.63% and a return on equity of 27.59%.

Mueller Industries Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 15th were given a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 1.54%. The ex-dividend date of this dividend was Thursday, March 14th. This is a boost from Mueller Industries's previous quarterly dividend of $0.15. Mueller Industries's dividend payout ratio (DPR) is presently 15.05%.

About Mueller Industries

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.