Louisiana State Employees Retirement System Has $2.51 Million Stock Holdings in Mueller Industries, Inc. (NYSE:MLI)

Louisiana State Employees Retirement System decreased its holdings in shares of Mueller Industries, Inc. (NYSE:MLI - Free Report) by 42.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 31,600 shares of the industrial products company's stock after selling 23,200 shares during the quarter. Louisiana State Employees Retirement System's holdings in Mueller Industries were worth $2,508,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of MLI. GAMMA Investing LLC grew its holdings in shares of Mueller Industries by 36.0% in the 3rd quarter. GAMMA Investing LLC now owns 552 shares of the industrial products company's stock worth $41,000 after purchasing an additional 146 shares during the last quarter. GM Advisory Group LLC grew its stake in shares of Mueller Industries by 5.3% during the third quarter. GM Advisory Group LLC now owns 3,792 shares of the industrial products company's stock valued at $281,000 after purchasing an additional 192 shares during the last quarter. Caprock Group LLC increased its stake in shares of Mueller Industries by 2.3% in the 4th quarter. Caprock Group LLC now owns 8,495 shares of the industrial products company's stock valued at $674,000 after buying an additional 194 shares during the period. Atria Investments Inc raised its holdings in Mueller Industries by 2.5% during the 3rd quarter. Atria Investments Inc now owns 12,396 shares of the industrial products company's stock worth $919,000 after purchasing an additional 302 shares during the last quarter. Finally, KBC Group NV boosted its stake in Mueller Industries by 12.9% in the third quarter. KBC Group NV now owns 2,784 shares of the industrial products company's stock valued at $206,000 after acquiring an additional 318 shares during the last quarter. Institutional investors and hedge funds own 94.50% of the company's stock.

Mueller Industries Trading Up 0.8 %

Shares of NYSE MLI traded up $0.61 during mid-day trading on Monday, reaching $81.23. 880,993 shares of the company's stock were exchanged, compared to its average volume of 729,991. The business has a fifty day simple moving average of $80.44 and a 200 day simple moving average of $77.51. Mueller Industries, Inc. has a twelve month low of $47.46 and a twelve month high of $96.81. The firm has a market capitalization of $9.24 billion, a price-to-earnings ratio of 15.30 and a beta of 0.98.

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

Insider Buying and Selling

In other news, Director Charles P. Herzog, Jr. sold 15,000 shares of Mueller Industries stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $92.04, for a total value of $1,380,600.00. Following the sale, the director now directly owns 17,733 shares in the company, valued at $1,632,145.32. This trade represents a 45.83 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Scott Jay Goldman sold 10,000 shares of the stock in a transaction on Thursday, February 13th. The stock was sold at an average price of $79.81, for a total transaction of $798,100.00. Following the transaction, the director now owns 56,098 shares of the company's stock, valued at $4,477,181.38. The trade was a 15.13 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 2.80% of the company's stock.

Analysts Set New Price Targets

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

Mueller Industries Company 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.