Mueller Industries, Inc. (NYSE:MLI) Shares Purchased by Public Sector Pension Investment Board

Public Sector Pension Investment Board lifted its stake in shares of Mueller Industries, Inc. (NYSE:MLI) by 7.4% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 249,932 shares of the industrial products company’s stock after buying an additional 17,227 shares during the quarter. Public Sector Pension Investment Board owned about 0.22% of Mueller Industries worth $14,231,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. International Assets Investment Management LLC acquired a new stake in shares of Mueller Industries during the second quarter worth about $26,000. Federated Hermes Inc. purchased a new position in shares of Mueller Industries during the second quarter worth approximately $28,000. Opal Wealth Advisors LLC purchased a new stake in Mueller Industries in the 2nd quarter valued at $30,000. LifeSteps Financial Inc. acquired a new stake in Mueller Industries during the 1st quarter worth $43,000. Finally, CWM LLC grew its position in Mueller Industries by 36.9% during the 1st quarter. CWM LLC now owns 827 shares of the industrial products company’s stock worth $45,000 after purchasing an additional 223 shares during the last quarter. Institutional investors and hedge funds own 94.50% of the company’s stock.

Mueller Industries Stock Performance

Shares of NYSE:MLI opened at $71.81 on Tuesday. Mueller Industries, Inc. has a one year low of $34.96 and a one year high of $74.47. The stock has a market capitalization of $8.16 billion, a price-to-earnings ratio of 14.39 and a beta of 1.03. The company has a 50-day simple moving average of $68.48 and a 200-day simple moving average of $60.18.

Mueller Industries (NYSE:MLI) last posted its quarterly earnings data on Tuesday, July 23rd. The industrial products company reported $1.41 earnings per share for the quarter, topping analysts’ consensus estimates of $1.29 by $0.12. The company had revenue of $997.75 million during the quarter. Mueller Industries had a return on equity of 22.86% and a net margin of 16.19%.

Mueller Industries Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 20th. Shareholders of record on Friday, September 6th were paid a $0.20 dividend. The ex-dividend date was Friday, September 6th. This represents a $0.80 annualized dividend and a yield of 1.11%. Mueller Industries’s dividend payout ratio is currently 16.03%.

Insider Transactions at Mueller Industries

In other news, CEO Gregory L. Christopher sold 50,000 shares of the business’s stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $69.92, for a total transaction of $3,496,000.00. Following the transaction, the chief executive officer now directly owns 1,214,311 shares in the company, valued at $84,904,625.12. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Mueller Industries news, CEO Gregory L. Christopher sold 50,000 shares of the firm’s stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $69.92, for a total value of $3,496,000.00. Following the completion of the sale, the chief executive officer now owns 1,214,311 shares of the company’s stock, valued at $84,904,625.12. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director John B. Hansen sold 8,000 shares of the company’s stock in a transaction on Friday, August 9th. The stock was sold at an average price of $67.24, for a total transaction of $537,920.00. Following the transaction, the director now directly owns 95,914 shares in the company, valued at $6,449,257.36. The disclosure for this sale can be found here. In the last quarter, insiders sold 103,000 shares of company stock worth $7,081,770. Company insiders own 2.80% of the company’s stock.

Mueller Industries 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.