California Public Employees Retirement System Increases Stock Position in Mueller Industries, Inc. (NYSE:MLI)

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California Public Employees Retirement System raised its holdings in Mueller Industries, Inc. (NYSE:MLI) by 18.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 170,493 shares of the industrial products company’s stock after purchasing an additional 26,633 shares during the quarter. California Public Employees Retirement System owned 0.30% of Mueller Industries worth $5,413,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in MLI. First Trust Advisors LP boosted its holdings in Mueller Industries by 96.6% in the 3rd quarter. First Trust Advisors LP now owns 483,009 shares of the industrial products company’s stock valued at $13,853,000 after purchasing an additional 237,292 shares in the last quarter. Assenagon Asset Management S.A. purchased a new stake in Mueller Industries in the 4th quarter valued at approximately $5,577,000. Morgan Stanley boosted its holdings in Mueller Industries by 59.4% in the 2nd quarter. Morgan Stanley now owns 268,572 shares of the industrial products company’s stock valued at $7,861,000 after purchasing an additional 100,044 shares in the last quarter. Stifel Financial Corp purchased a new stake in Mueller Industries in the 3rd quarter valued at approximately $2,568,000. Finally, Squarepoint Ops LLC boosted its holdings in Mueller Industries by 150.5% in the 3rd quarter. Squarepoint Ops LLC now owns 123,100 shares of the industrial products company’s stock valued at $3,531,000 after purchasing an additional 73,956 shares in the last quarter. 88.85% of the stock is currently owned by institutional investors.

A number of brokerages have weighed in on MLI. TheStreet raised Mueller Industries from a “c+” rating to a “b-” rating in a report on Thursday, November 7th. Boenning Scattergood raised Mueller Industries from a “neutral” rating to an “outperform” rating in a report on Tuesday, February 4th. Zacks Investment Research raised Mueller Industries from a “hold” rating to a “buy” rating and set a $37.00 price objective on the stock in a report on Thursday, February 6th. Finally, ValuEngine raised Mueller Industries from a “sell” rating to a “hold” rating in a report on Friday, February 7th.

Shares of NYSE:MLI opened at $32.68 on Friday. The business’s 50 day simple moving average is $31.48 and its 200-day simple moving average is $29.88. The firm has a market capitalization of $1.85 billion, a price-to-earnings ratio of 18.16 and a beta of 1.37. The company has a debt-to-equity ratio of 0.61, a current ratio of 2.96 and a quick ratio of 1.71. Mueller Industries, Inc. has a 12 month low of $25.19 and a 12 month high of $34.24.

Mueller Industries (NYSE:MLI) last announced its quarterly earnings results on Tuesday, February 4th. The industrial products company reported $0.50 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.30 by $0.20. The business had revenue of $543.84 million for the quarter. Mueller Industries had a return on equity of 19.63% and a net margin of 4.15%. During the same period last year, the firm earned $0.42 EPS. On average, equities analysts anticipate that Mueller Industries, Inc. will post 1.92 earnings per share for the current year.

In other news, CEO Gregory L. Christopher sold 8,497 shares of the business’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $32.00, for a total transaction of $271,904.00. Following the sale, the chief executive officer now owns 520,456 shares of the company’s stock, valued at approximately $16,654,592. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Gregory L. Christopher sold 22,798 shares of the business’s stock in a transaction that occurred on Friday, December 6th. The stock was sold at an average price of $32.01, for a total value of $729,763.98. Following the sale, the chief executive officer now directly owns 497,658 shares in the company, valued at approximately $15,930,032.58. The disclosure for this sale can be found here. 3.30% of the stock is owned by insiders.

Mueller Industries Company Profile

Mueller Industries, Inc engages in the manufacture of copper, brass, aluminum, and plastic products. It operates through the following segments: Piping Systems, Industrial Metals, and Climate. The Piping Systems segment consists of domestic piping systems group, Canadian operations, European operations, trading group, Jiangsu Mueller-Xingrong Copper Industries Limited, and Jungwoo Metal Ind.

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Institutional Ownership by Quarter for Mueller Industries (NYSE:MLI)

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