Mueller Industries, Inc. (MLI) Stake Held by State Board of Administration of Florida Retirement System
State Board of Administration of Florida Retirement System held its position in Mueller Industries, Inc. (NYSE:MLI) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 36,482 shares of the industrial products company’s stock at the end of the second quarter. State Board of Administration of Florida Retirement System owned 0.06% of Mueller Industries worth $1,111,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Bank of America Corp DE lifted its stake in Mueller Industries by 34.0% in the 1st quarter. Bank of America Corp DE now owns 202,186 shares of the industrial products company’s stock worth $6,921,000 after purchasing an additional 51,294 shares in the last quarter. Paloma Partners Management Co purchased a new position in Mueller Industries in the 1st quarter worth approximately $486,000. Mason Street Advisors LLC lifted its stake in Mueller Industries by 7.4% in the 1st quarter. Mason Street Advisors LLC now owns 13,470 shares of the industrial products company’s stock worth $461,000 after purchasing an additional 932 shares in the last quarter. Great West Life Assurance Co. Can lifted its stake in Mueller Industries by 4.2% in the 2nd quarter. Great West Life Assurance Co. Can now owns 84,740 shares of the industrial products company’s stock worth $2,577,000 after purchasing an additional 3,420 shares in the last quarter. Finally, Credit Suisse AG lifted its stake in Mueller Industries by 5.0% in the 1st quarter. Credit Suisse AG now owns 85,912 shares of the industrial products company’s stock worth $2,941,000 after purchasing an additional 4,089 shares in the last quarter. 91.12% of the stock is currently owned by institutional investors and hedge funds.
Separately, BidaskClub lowered shares of Mueller Industries from a “hold” rating to a “sell” rating in a research note on Friday, August 18th.
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In other Mueller Industries news, Director John B. Hansen sold 2,000 shares of the company’s stock in a transaction dated Monday, July 31st. The shares were sold at an average price of $31.05, for a total value of $62,100.00. Following the sale, the director now owns 45,607 shares of the company’s stock, valued at $1,416,097.35. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Jeffrey Andrew Martin sold 3,500 shares of the company’s stock in a transaction dated Friday, September 15th. The shares were sold at an average price of $32.01, for a total transaction of $112,035.00. Following the completion of the sale, the chief financial officer now directly owns 111,146 shares in the company, valued at approximately $3,557,783.46. The disclosure for this sale can be found here. 2.79% of the stock is owned by corporate insiders.
Mueller Industries, Inc. (MLI) opened at 32.74 on Thursday. The firm has a 50-day moving average of $30.04 and a 200-day moving average of $31.18. Mueller Industries, Inc. has a 1-year low of $27.72 and a 1-year high of $43.96. The stock has a market capitalization of $1.89 billion, a price-to-earnings ratio of 18.70 and a beta of 1.38.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 22nd. Shareholders of record on Tuesday, September 5th will be issued a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 1.22%. The ex-dividend date of this dividend is Thursday, August 31st. Mueller Industries’s dividend payout ratio (DPR) is presently 22.86%.
About Mueller Industries
Mueller Industries, Inc is a manufacturer of copper, brass, aluminum and plastic products. The Company operates through three segments: Piping Systems, Industrial Metals and Climate. The Company’s products include copper tube and fittings; line sets; brass and copper alloy rod, bar, and shapes; aluminum and brass forgings; aluminum impact extrusions; plastic fittings and valves; refrigeration valves and fittings; fabricated tubular products, and steel nipples.
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