23,300 Shares in Mueller Industries, Inc. (NYSE:MLI) Purchased by New Mexico Educational Retirement Board

New Mexico Educational Retirement Board acquired a new stake in shares of Mueller Industries, Inc. (NYSE:MLI - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 23,300 shares of the industrial products company's stock, valued at approximately $1,849,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Westside Investment Management Inc. acquired a new position in Mueller Industries in the 3rd quarter worth $41,000. Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of Mueller Industries during the fourth quarter worth about $53,000. City State Bank bought a new position in shares of Mueller Industries during the fourth quarter worth about $58,000. GAMMA Investing LLC raised its position in Mueller Industries by 46.7% in the 4th quarter. GAMMA Investing LLC now owns 810 shares of the industrial products company's stock valued at $64,000 after buying an additional 258 shares during the last quarter. Finally, Harbor Capital Advisors Inc. acquired a new stake in Mueller Industries in the 3rd quarter valued at approximately $64,000. 94.50% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Mueller Industries

In other news, Director Scott Jay Goldman sold 10,000 shares of the business's stock in a transaction dated Thursday, February 13th. The shares were sold at an average price of $79.81, for a total transaction of $798,100.00. Following the transaction, the director now directly owns 56,098 shares in the company, valued at $4,477,181.38. The trade was 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 link. Company insiders own 2.80% of the company's stock.

Mueller Industries Price Performance

NYSE:MLI traded down $1.03 on Thursday, hitting $80.58. 658,980 shares of the company's stock were exchanged, compared to its average volume of 727,466. The firm has a 50-day moving average price of $80.44 and a 200-day moving average price of $77.64. Mueller Industries, Inc. has a 52 week low of $47.46 and a 52 week high of $96.81. The company has a market cap of $9.17 billion, a P/E ratio of 15.18 and a beta of 0.98.

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

Wall Street Analyst Weigh In

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

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.