VIRGINIA RETIREMENT SYSTEMS ET Al Sells 175,500 Shares of Mueller Industries, Inc. $MLI

VIRGINIA RETIREMENT SYSTEMS ET Al lowered its stake in Mueller Industries, Inc. (NYSE:MLI) by 25.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 514,755 shares of the industrial products company’s stock after selling 175,500 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al’s holdings in Mueller Industries were worth $59,094,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Versor Investments LP bought a new stake in shares of Mueller Industries in the fourth quarter worth $667,000. Money Concepts Capital Corp acquired a new position in Mueller Industries in the fourth quarter valued at $278,000. Swiss Life Asset Management Ltd lifted its holdings in Mueller Industries by 54.7% in the fourth quarter. Swiss Life Asset Management Ltd now owns 7,531 shares of the industrial products company’s stock valued at $865,000 after buying an additional 2,663 shares during the period. D Orazio & Associates Inc. lifted its holdings in Mueller Industries by 3.8% in the fourth quarter. D Orazio & Associates Inc. now owns 4,553 shares of the industrial products company’s stock valued at $523,000 after buying an additional 168 shares during the period. Finally, Advisor OS LLC acquired a new position in Mueller Industries in the fourth quarter valued at $327,000. Institutional investors and hedge funds own 94.50% of the company’s stock.

Insider Activity

In other news, CEO Gregory L. Christopher sold 103,266 shares of the business’s stock in a transaction dated Monday, April 27th. The shares were sold at an average price of $137.29, for a total transaction of $14,177,389.14. Following the completion of the sale, the chief executive officer directly owned 804,911 shares of the company’s stock, valued at $110,506,231.19. The trade was a 11.37% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Scott Jay Goldman sold 4,430 shares of the business’s stock in a transaction dated Friday, February 13th. The stock was sold at an average price of $118.97, for a total transaction of $527,037.10. Following the sale, the director directly owned 41,645 shares of the company’s stock, valued at approximately $4,954,505.65. The trade was a 9.61% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 2.30% of the company’s stock.

Mueller Industries Trading Down 1.4%

Shares of NYSE MLI opened at $138.79 on Wednesday. The firm’s 50-day moving average price is $120.68 and its 200-day moving average price is $118.03. Mueller Industries, Inc. has a 1-year low of $72.16 and a 1-year high of $141.51. The firm has a market capitalization of $15.35 billion, a P/E ratio of 18.17 and a beta of 1.13.

Mueller Industries (NYSE:MLI) last posted its earnings results on Tuesday, April 21st. The industrial products company reported $2.16 EPS for the quarter, topping the consensus estimate of $1.49 by $0.67. The company had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.10 billion. Mueller Industries had a net margin of 19.37% and a return on equity of 25.97%. The firm’s revenue for the quarter was up 19.3% on a year-over-year basis. During the same period in the previous year, the firm posted $1.39 earnings per share.

Mueller Industries Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 19th. Stockholders of record on Friday, June 5th will be given a dividend of $0.35 per share. The ex-dividend date of this dividend is Friday, June 5th. This represents a $1.40 annualized dividend and a dividend yield of 1.0%. Mueller Industries’s payout ratio is presently 18.32%.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. Weiss Ratings reiterated a “buy (b)” rating on shares of Mueller Industries in a report on Tuesday, April 21st. Wall Street Zen lowered shares of Mueller Industries from a “strong-buy” rating to a “buy” rating in a report on Saturday. One investment analyst has rated the stock with a Buy rating, According to MarketBeat.com, the company has an average rating of “Buy”.

Mueller Industries Company Profile

Mueller Industries, Inc is a diversified manufacturer and marketer of copper, brass, aluminum and plastic products. Headquartered in Memphis, Tennessee, the company serves a wide range of markets including HVAC (heating, ventilation and air conditioning), refrigeration, plumbing, industrial gas, automotive and agricultural sectors. Its product portfolio encompasses copper and plastic tubing, brass fittings, valves and related components designed for fluid handling and temperature control applications.

The company operates through multiple business segments, including the Plumbing & Refrigeration segment, which supplies copper and plastic tubing, fittings and valves for residential and commercial construction markets; the Industrial Metals & Mining segment, which provides aluminum shapes and specialty brass products for industrial applications; and the Climate segment, which focuses on copper tubing and components for air conditioning and refrigeration systems.