State of New Jersey Common Pension Fund D Has $3.01 Million Stock Position in Mueller Industries, Inc. (NYSE:MLI)

State of New Jersey Common Pension Fund D raised its holdings in Mueller Industries, Inc. (NYSE:MLI) by 100.0% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm 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 approximately 0.06% of Mueller Industries worth $3,009,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Fifth Third Bancorp increased its position in Mueller Industries by 124.3% in the 4th quarter. Fifth Third Bancorp now owns 527 shares of the industrial products company’s stock valued at $25,000 after acquiring an additional 292 shares during the period. Larson Financial Group LLC boosted its stake in shares of Mueller Industries by 100.0% in the 4th quarter. Larson Financial Group LLC now owns 598 shares of the industrial products company’s stock valued at $28,000 after purchasing an additional 299 shares during the last quarter. Beaird Harris Wealth Management LLC bought a new stake in shares of Mueller Industries in the 3rd quarter valued at $30,000. Adirondack Trust Co. bought a new stake in shares of Mueller Industries in the 3rd quarter valued at $45,000. Finally, Versant Capital Management Inc boosted its stake in shares of Mueller Industries by 100.0% in the 4th quarter. Versant Capital Management Inc now owns 974 shares of the industrial products company’s stock valued at $46,000 after purchasing an additional 487 shares during the last quarter. 94.50% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the stock. StockNews.com lowered shares of Mueller Industries from a “buy” rating to a “hold” rating in a research note on Monday, January 22nd. Northcoast Research reissued a “neutral” rating on shares of Mueller Industries in a research note on Friday, January 19th.

Mueller Industries Stock Down 1.8 %

Shares of NYSE MLI opened at $57.33 on Friday. The firm has a market cap of $6.51 billion, a PE ratio of 11.49 and a beta of 1.08. Mueller Industries, Inc. has a 12-month low of $34.08 and a 12-month high of $59.59. The company’s fifty day simple moving average is $52.44 and its 200 day simple moving average is $47.07.

Mueller Industries (NYSE:MLI) last issued its 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 net margin of 17.22% and a return on equity of 24.69%.

Mueller Industries Increases Dividend

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

Insider Buying and Selling at Mueller Industries

In other Mueller Industries news, Director John B. Hansen sold 5,000 shares of the firm’s stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $49.33, for a total value of $246,650.00. Following the transaction, the director now directly owns 18,000 shares of the company’s stock, valued at $887,940. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other Mueller Industries news, CFO Jeffrey Andrew Martin sold 47,280 shares of the firm’s stock in a transaction on Thursday, February 8th. The shares were 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 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 5,000 shares of the stock in a transaction dated Thursday, February 8th. The shares were 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 of the company’s stock, valued at approximately $887,940. The disclosure for this sale can be found here. Over the last three months, insiders have sold 56,280 shares of company stock valued at $2,804,350. Corporate insiders own 2.80% of the company’s stock.

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.