New York State Teachers Retirement System Reduces Holdings in Mueller Industries, Inc. (NYSE:MLI)

New York State Teachers Retirement System cut its holdings in Mueller Industries, Inc. (NYSE:MLI - Free Report) by 4.8% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 174,587 shares of the industrial products company's stock after selling 8,781 shares during the quarter. New York State Teachers Retirement System owned approximately 0.15% of Mueller Industries worth $12,937,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the business. Wealth Enhancement Advisory Services LLC grew its holdings in Mueller Industries by 17.6% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 5,160 shares of the industrial products company's stock worth $382,000 after purchasing an additional 772 shares during the period. HWG Holdings LP grew its stake in shares of Mueller Industries by 31.4% in the 3rd quarter. HWG Holdings LP now owns 54,325 shares of the industrial products company's stock worth $4,025,000 after buying an additional 12,971 shares during the last quarter. Rowlandmiller & PARTNERS.ADV grew its stake in shares of Mueller Industries by 87.3% in the 3rd quarter. Rowlandmiller & PARTNERS.ADV now owns 5,150 shares of the industrial products company's stock worth $382,000 after buying an additional 2,400 shares during the last quarter. Eagle Ridge Investment Management bought a new position in Mueller Industries during the 3rd quarter valued at approximately $201,000. Finally, Ausbil Investment Management Ltd raised its stake in Mueller Industries by 3.9% during the third quarter. Ausbil Investment Management Ltd now owns 53,257 shares of the industrial products company's stock valued at $3,946,000 after buying an additional 1,989 shares during the last quarter. 94.50% of the stock is currently owned by institutional investors.

Mueller Industries Stock Down 0.6 %

Shares of NYSE MLI traded down $0.51 during trading on Friday, reaching $81.46. The company had a trading volume of 930,182 shares, compared to its average volume of 768,566. Mueller Industries, Inc. has a 12-month low of $37.54 and a 12-month high of $84.11. The business's 50-day moving average is $73.09 and its 200 day moving average is $64.72. The stock has a market cap of $9.27 billion, a PE ratio of 15.82 and a beta of 1.01.

Mueller Industries (NYSE:MLI - Get Free Report) last announced its quarterly earnings data on Tuesday, October 22nd. The industrial products company reported $1.48 EPS for the quarter, beating the consensus estimate of $1.32 by $0.16. The company had revenue of $997.80 million for the quarter, compared to the consensus estimate of $936.00 million. Mueller Industries had a net margin of 16.39% and a return on equity of 23.25%. The firm's revenue for the quarter was up 21.7% compared to the same quarter last year.

Insider Activity at Mueller Industries

In other Mueller Industries news, CEO Gregory L. Christopher sold 45,000 shares of Mueller Industries stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $67.73, for a total value of $3,047,850.00. Following the completion of the sale, the chief executive officer now owns 1,264,311 shares of the company's stock, valued at approximately $85,631,784.03. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, Director John B. Hansen sold 1,000 shares of the stock in a transaction that occurred on Wednesday, October 30th. The shares were sold at an average price of $83.09, for a total transaction of $83,090.00. Following the transaction, the director now owns 94,914 shares in the company, valued at $7,886,404.26. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Gregory L. Christopher sold 45,000 shares of the business's stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $67.73, for a total transaction of $3,047,850.00. Following the sale, the chief executive officer now owns 1,264,311 shares of the company's stock, valued at approximately $85,631,784.03. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 104,000 shares of company stock valued at $7,164,860 over the last 90 days. Corporate insiders own 2.80% of the company's stock.

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.