Mueller Industries, Inc. (NYSE:MLI) Shares Acquired by Illinois Municipal Retirement Fund

Illinois Municipal Retirement Fund raised its holdings in shares of Mueller Industries, Inc. (NYSE:MLI - Free Report) by 92.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 65,098 shares of the industrial products company's stock after buying an additional 31,215 shares during the period. Illinois Municipal Retirement Fund owned about 0.06% of Mueller Industries worth $3,069,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the business. Meritage Portfolio Management boosted its holdings in shares of Mueller Industries by 5.4% in the third quarter. Meritage Portfolio Management now owns 5,265 shares of the industrial products company's stock valued at $396,000 after purchasing an additional 270 shares during the period. Fifth Third Bancorp boosted its holdings in shares of Mueller Industries by 124.3% in the fourth quarter. Fifth Third Bancorp now owns 527 shares of the industrial products company's stock valued at $25,000 after purchasing an additional 292 shares during the period. Navellier & Associates Inc. boosted its holdings in shares of Mueller Industries by 4.5% in the third quarter. Navellier & Associates Inc. now owns 6,984 shares of the industrial products company's stock valued at $525,000 after purchasing an additional 301 shares during the period. Vanguard Personalized Indexing Management LLC boosted its holdings in shares of Mueller Industries by 5.7% in the third quarter. Vanguard Personalized Indexing Management LLC now owns 6,239 shares of the industrial products company's stock valued at $469,000 after purchasing an additional 337 shares during the period. Finally, Beaird Harris Wealth Management LLC purchased a new stake in shares of Mueller Industries in the third quarter valued at approximately $30,000. Hedge funds and other institutional investors own 94.50% of the company's stock.

Mueller Industries Trading Up 0.8 %

Shares of MLI stock traded up $0.44 during trading hours on Thursday, reaching $58.40. 1,152,311 shares of the company's stock were exchanged, compared to its average volume of 685,619. The stock's 50 day moving average is $52.13 and its 200-day moving average is $46.78. The company has a market cap of $6.63 billion, a price-to-earnings ratio of 11.70 and a beta of 1.08. Mueller Industries, Inc. has a fifty-two week low of $34.08 and a fifty-two week high of $59.59.

Mueller Industries (NYSE:MLI - Get Free Report) last issued its quarterly earnings results on Tuesday, February 6th. The industrial products company reported $1.05 earnings per share (EPS) for the quarter. The business had revenue of $732.38 million for the quarter. Mueller Industries had a return on equity of 24.69% and a net margin of 17.22%.

Mueller Industries Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 15th were issued a dividend of $0.20 per share. The ex-dividend date of this dividend was Thursday, March 14th. This is a positive change from Mueller Industries's previous quarterly dividend of $0.15. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.37%. Mueller Industries's payout ratio is 16.03%.

Insider Activity

In other news, Director John B. Hansen sold 4,000 shares of the business's stock in a transaction on Thursday, April 25th. The shares were sold at an average price of $57.29, for a total transaction of $229,160.00. Following the sale, the director now directly owns 104,214 shares of the company's stock, valued at $5,970,420.06. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Mueller Industries news, Director John B. Hansen sold 4,000 shares of the company's stock in a transaction on Thursday, April 25th. The shares were sold at an average price of $57.29, for a total value of $229,160.00. Following the sale, the director now directly owns 104,214 shares of the company's stock, valued at $5,970,420.06. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Jeffrey Andrew Martin sold 47,280 shares of the company's stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $49.25, for a total transaction of $2,328,540.00. Following the completion of the sale, the chief financial officer now directly owns 370,840 shares in the company, valued at $18,263,870. The disclosure for this sale can be found here. Insiders have sold 56,280 shares of company stock valued at $2,804,350 over the last ninety days. 2.80% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

MLI has been the subject of a number of recent research reports. StockNews.com downgraded shares of Mueller Industries from a "buy" rating to a "hold" rating in a research note on Monday, January 22nd. Northcoast Research reaffirmed a "neutral" rating on shares of Mueller Industries in a research report on Friday, January 19th.

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.