Louisiana State Employees Retirement System Reduces Holdings in Mueller Industries, Inc. (NYSE:MLI)

Louisiana State Employees Retirement System decreased its holdings in shares of Mueller Industries, Inc. (NYSE:MLI) by 42.3% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 31,600 shares of the industrial products company’s stock after selling 23,200 shares during the period. Louisiana State Employees Retirement System’s holdings in Mueller Industries were worth $2,508,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of MLI. New York State Common Retirement Fund lifted its holdings in shares of Mueller Industries by 20.4% during the third quarter. New York State Common Retirement Fund now owns 405,618 shares of the industrial products company’s stock worth $30,056,000 after purchasing an additional 68,633 shares during the period. State Street Corp lifted its holdings in shares of Mueller Industries by 3.2% during the third quarter. State Street Corp now owns 4,451,143 shares of the industrial products company’s stock worth $329,830,000 after purchasing an additional 139,406 shares during the period. Farther Finance Advisors LLC lifted its holdings in shares of Mueller Industries by 1,322.6% during the third quarter. Farther Finance Advisors LLC now owns 8,436 shares of the industrial products company’s stock worth $625,000 after purchasing an additional 7,843 shares during the period. Flagship Harbor Advisors LLC acquired a new stake in shares of Mueller Industries during the fourth quarter worth about $300,000. Finally, Merit Financial Group LLC acquired a new stake in shares of Mueller Industries during the fourth quarter worth about $287,000. Hedge funds and other institutional investors own 94.50% of the company’s stock.

Mueller Industries Trading Up 1.6 %

Shares of NYSE:MLI opened at $80.73 on Friday. Mueller Industries, Inc. has a 12-month low of $47.46 and a 12-month high of $96.81. The company has a market capitalization of $9.18 billion, a PE ratio of 15.20 and a beta of 0.98. The business has a 50 day moving average of $80.33 and a two-hundred day moving average of $77.24.

Mueller Industries (NYSE:MLI) last announced its quarterly earnings results on Tuesday, February 4th. The industrial products company reported $1.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.12 by $0.09. Mueller Industries had a return on equity of 22.97% and a net margin of 16.05%.

Wall Street Analyst Weigh In

Separately, Northcoast Research raised Mueller Industries from a “neutral” rating to a “buy” rating and set a $105.00 target price for the company in a report on Wednesday, December 11th.

Insider Buying and Selling at Mueller Industries

In other news, Director Scott Jay Goldman sold 10,000 shares of the company’s stock in a transaction that occurred on Thursday, February 13th. The stock was sold at an average price of $79.81, for a total transaction of $798,100.00. Following the completion of the transaction, the director now directly owns 56,098 shares of the company’s stock, valued at $4,477,181.38. This represents a 15.13 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Charles P. Herzog, Jr. sold 15,000 shares of the company’s stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $92.04, for a total value of $1,380,600.00. Following the transaction, the director now directly owns 17,733 shares of the company’s stock, valued at approximately $1,632,145.32. The trade was a 45.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.80% of the stock is currently owned by corporate insiders.

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.