California Public Employees Retirement System Has $18.28 Million Stake in Mueller Industries, Inc. (NYSE:MLI)

California Public Employees Retirement System decreased its stake in shares of Mueller Industries, Inc. (NYSE:MLI - Free Report) by 3.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 230,304 shares of the industrial products company's stock after selling 9,165 shares during the period. California Public Employees Retirement System owned about 0.20% of Mueller Industries worth $18,277,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the business. State Street Corp grew its stake in Mueller Industries by 3.2% during the third quarter. State Street Corp now owns 4,451,143 shares of the industrial products company's stock valued at $329,830,000 after acquiring an additional 139,406 shares in the last quarter. Flagship Harbor Advisors LLC acquired a new position in shares of Mueller Industries during the fourth quarter worth $300,000. Merit Financial Group LLC purchased a new stake in Mueller Industries during the 4th quarter worth approximately $287,000. Rhumbline Advisers lifted its stake in Mueller Industries by 13.7% during the 4th quarter. Rhumbline Advisers now owns 364,095 shares of the industrial products company's stock valued at $28,895,000 after acquiring an additional 43,893 shares during the period. Finally, US Bancorp DE grew its position in Mueller Industries by 3.0% during the fourth quarter. US Bancorp DE now owns 18,278 shares of the industrial products company's stock valued at $1,451,000 after buying an additional 537 shares during the period. 94.50% of the stock is currently owned by institutional investors.

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Mueller Industries Price Performance

Shares of MLI traded down $0.97 during midday trading on Monday, reaching $69.63. The stock had a trading volume of 1,245,594 shares, compared to its average volume of 904,752. The company has a market cap of $7.71 billion, a price-to-earnings ratio of 13.11 and a beta of 0.96. The company's fifty day simple moving average is $79.31 and its two-hundred day simple moving average is $79.99. Mueller Industries, Inc. has a 1-year low of $50.85 and a 1-year high of $96.81.

Mueller Industries (NYSE:MLI - Get Free Report) last announced its earnings results on Tuesday, February 4th. The industrial products company reported $1.21 EPS for the quarter, beating analysts' consensus estimates of $1.12 by $0.09. Mueller Industries had a return on equity of 22.97% and a net margin of 16.05%.

Mueller Industries Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Friday, March 14th were paid a dividend of $0.25 per share. This is a positive change from Mueller Industries's previous quarterly dividend of $0.20. The ex-dividend date of this dividend was Friday, March 14th. This represents a $1.00 annualized dividend and a yield of 1.44%. Mueller Industries's payout ratio is presently 18.83%.

Analyst Ratings Changes

Separately, Northcoast Research raised shares of Mueller Industries from a "neutral" rating to a "buy" rating and set a $105.00 target price for the company in a report on Wednesday, December 11th.

Insider Buying and Selling at Mueller Industries

In other news, Director Scott Jay Goldman sold 10,000 shares of the firm's stock in a transaction dated Thursday, February 13th. The stock was sold at an average price of $79.81, for a total transaction of $798,100.00. Following the completion of the sale, the director now directly owns 56,098 shares of the company's stock, valued at $4,477,181.38. This trade represents a 15.13 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 2.80% of the stock is currently owned by company insiders.

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.