Mueller Industries, Inc. $MLI Shares Bought by Retirement Systems of Alabama

Retirement Systems of Alabama raised its position in Mueller Industries, Inc. (NYSE:MLI) by 33.8% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 200,406 shares of the industrial products company’s stock after purchasing an additional 50,609 shares during the period. Retirement Systems of Alabama’s holdings in Mueller Industries were worth $15,926,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Brooklyn Investment Group grew its holdings in Mueller Industries by 267.3% in the first quarter. Brooklyn Investment Group now owns 382 shares of the industrial products company’s stock valued at $29,000 after purchasing an additional 278 shares during the last quarter. Rise Advisors LLC acquired a new stake in Mueller Industries in the first quarter valued at $30,000. Wayfinding Financial LLC acquired a new stake in Mueller Industries in the first quarter valued at $34,000. Maseco LLP acquired a new stake in Mueller Industries in the second quarter valued at $40,000. Finally, Migdal Insurance & Financial Holdings Ltd. acquired a new stake in Mueller Industries in the first quarter valued at $76,000. Institutional investors and hedge funds own 94.50% of the company’s stock.

Mueller Industries Stock Up 0.5%

MLI opened at $105.96 on Friday. The firm has a market cap of $11.76 billion, a P/E ratio of 15.81 and a beta of 1.02. Mueller Industries, Inc. has a 52 week low of $66.84 and a 52 week high of $107.74. The business’s fifty day simple moving average is $99.62 and its 200 day simple moving average is $87.23.

Mueller Industries (NYSE:MLI) last posted its quarterly earnings data on Tuesday, October 21st. The industrial products company reported $1.88 EPS for the quarter, missing analysts’ consensus estimates of $1.99 by ($0.11). The company had revenue of $1.08 billion for the quarter, compared to analyst estimates of $942.00 million. Mueller Industries had a net margin of 18.10% and a return on equity of 25.02%. The firm’s revenue was up 8.0% on a year-over-year basis. During the same period in the previous year, the business earned $1.48 EPS.

Insider Transactions at Mueller Industries

In other Mueller Industries news, Director John B. Hansen sold 1,000 shares of the firm’s stock in a transaction dated Thursday, October 23rd. The stock was sold at an average price of $105.71, for a total value of $105,710.00. Following the sale, the director directly owned 91,664 shares of the company’s stock, valued at approximately $9,689,801.44. This trade represents a 1.08% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Gregory L. Christopher sold 50,000 shares of the firm’s stock in a transaction dated Monday, October 27th. The stock was sold at an average price of $103.42, for a total value of $5,171,000.00. Following the completion of the sale, the chief executive officer directly owned 1,069,241 shares in the company, valued at approximately $110,580,904.22. The trade was a 4.47% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 352,000 shares of company stock worth $36,576,640. 2.70% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Mueller Industries in a research note on Wednesday, October 8th. Two analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, Mueller Industries presently has a consensus rating of “Buy” and an average price target of $105.00.

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.