Teachers Retirement System of The State of Kentucky Has $3.04 Million Stock Position in Mueller Industries, Inc. (NYSE:MLI)

Teachers Retirement System of The State of Kentucky grew its holdings in Mueller Industries, Inc. (NYSE:MLI) by 4.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 38,288 shares of the industrial products company’s stock after purchasing an additional 1,480 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in Mueller Industries were worth $3,038,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of the business. New Age Alpha Advisors LLC acquired a new position in shares of Mueller Industries in the 4th quarter valued at $32,000. Westside Investment Management Inc. acquired a new position in Mueller Industries in the third quarter valued at about $41,000. SBI Securities Co. Ltd. acquired a new position in Mueller Industries in the fourth quarter valued at about $47,000. Mirae Asset Global Investments Co. Ltd. bought a new position in Mueller Industries during the fourth quarter worth about $53,000. Finally, City State Bank acquired a new position in shares of Mueller Industries during the 4th quarter worth about $58,000. 94.50% of the stock is owned by institutional investors.

Insider Buying and Selling

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 shares were sold at an average price of $79.81, for a total value of $798,100.00. Following the completion of the transaction, the director now owns 56,098 shares in the company, valued at $4,477,181.38. This represents a 15.13 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 2.70% of the stock is owned by company insiders.

Mueller Industries Stock Performance

Shares of NYSE:MLI opened at $72.34 on Thursday. The company has a 50 day moving average price of $76.93 and a two-hundred day moving average price of $79.77. The company has a market capitalization of $8.01 billion, a PE ratio of 13.62 and a beta of 0.96. Mueller Industries, Inc. has a 52 week low of $53.53 and a 52 week high of $96.81.

Mueller Industries (NYSE:MLI) last issued its quarterly earnings data on Tuesday, April 22nd. The industrial products company reported $1.39 EPS for the quarter, topping the consensus estimate of $1.31 by $0.08. Mueller Industries had a return on equity of 22.97% and a net margin of 16.05%. The business had revenue of $1 billion for the quarter, compared to the consensus estimate of $1 billion.

Mueller Industries Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Friday, March 14th were given a $0.25 dividend. The ex-dividend date was Friday, March 14th. This is a positive change from Mueller Industries’s previous quarterly dividend of $0.20. This represents a $1.00 annualized dividend and a dividend yield of 1.38%. Mueller Industries’s payout ratio is currently 18.83%.

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.