State of New Jersey Common Pension Fund D Purchases 31,911 Shares of Mueller Industries, Inc. (NYSE:MLI)

State of New Jersey Common Pension Fund D grew its stake in Mueller Industries, Inc. (NYSE:MLI - Free Report) by 100.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 63,822 shares of the industrial products company's stock after acquiring an additional 31,911 shares during the quarter. State of New Jersey Common Pension Fund D owned about 0.06% of Mueller Industries worth $3,009,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Allspring Global Investments Holdings LLC lifted its position in Mueller Industries by 90.9% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 5,039,933 shares of the industrial products company's stock worth $237,633,000 after buying an additional 2,399,862 shares during the period. Pacer Advisors Inc. lifted its position in Mueller Industries by 194.4% during the fourth quarter. Pacer Advisors Inc. now owns 2,883,088 shares of the industrial products company's stock worth $135,938,000 after buying an additional 1,903,745 shares during the period. Gates Capital Management Inc. lifted its position in Mueller Industries by 53.4% during the third quarter. Gates Capital Management Inc. now owns 1,196,744 shares of the industrial products company's stock worth $89,947,000 after buying an additional 416,700 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its stake in Mueller Industries by 98.9% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 643,872 shares of the industrial products company's stock worth $30,359,000 after acquiring an additional 320,187 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in Mueller Industries by 6.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 597,156 shares of the industrial products company's stock worth $44,882,000 after acquiring an additional 36,646 shares during the last quarter. 94.50% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have commented on MLI. Northcoast Research restated a "neutral" rating on shares of Mueller Industries in a research note on Friday, January 19th. StockNews.com lowered Mueller Industries from a "buy" rating to a "hold" rating in a research note on Monday, January 22nd.

Insider Buying and Selling

In related news, CFO Jeffrey Andrew Martin sold 47,280 shares of the firm's stock in a transaction that occurred 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 sale, the chief financial officer now owns 370,840 shares of the company's stock, valued at approximately $18,263,870. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, CFO Jeffrey Andrew Martin sold 47,280 shares of the company's stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $49.25, for a total transaction of $2,328,540.00. Following the transaction, the chief financial officer now directly owns 370,840 shares of the company's stock, valued at $18,263,870. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, 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 transaction, the director now directly owns 104,214 shares in the company, valued at $5,970,420.06. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 56,280 shares of company stock valued at $2,804,350. Insiders own 2.80% of the company's stock.

Mueller Industries Stock Down 1.8 %

NYSE:MLI traded down $1.08 during trading hours on Friday, reaching $57.33. 687,379 shares of the stock were exchanged, compared to its average volume of 641,791. The firm has a 50 day simple moving average of $52.44 and a 200-day simple moving average of $47.14. Mueller Industries, Inc. has a 52 week low of $34.08 and a 52 week high of $59.59. The stock has a market capitalization of $6.51 billion, a P/E ratio of 11.49 and a beta of 1.08.

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

Mueller Industries Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 15th were issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 1.40%. The ex-dividend date of this dividend was Thursday, March 14th. This is an increase from Mueller Industries's previous quarterly dividend of $0.15. Mueller Industries's dividend payout ratio (DPR) is currently 16.03%.

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.