Oregon Public Employees Retirement Fund Trims Stock Holdings in Mueller Industries, Inc. (NYSE:MLI)

Oregon Public Employees Retirement Fund decreased its position in Mueller Industries, Inc. (NYSE:MLI - Free Report) by 13.3% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 23,100 shares of the industrial products company's stock after selling 3,557 shares during the quarter. Oregon Public Employees Retirement Fund's holdings in Mueller Industries were worth $1,833,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also bought and sold shares of the company. State Street Corp lifted its holdings in shares of Mueller Industries by 3.2% in the 3rd quarter. State Street Corp now owns 4,451,143 shares of the industrial products company's stock worth $329,830,000 after acquiring an additional 139,406 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Mueller Industries by 27.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,469,736 shares of the industrial products company's stock worth $108,907,000 after purchasing an additional 315,490 shares during the last quarter. FMR LLC boosted its position in Mueller Industries by 2.6% during the third quarter. FMR LLC now owns 1,066,658 shares of the industrial products company's stock valued at $79,039,000 after buying an additional 27,399 shares during the period. Systematic Financial Management LP grew its stake in shares of Mueller Industries by 1.6% during the third quarter. Systematic Financial Management LP now owns 939,342 shares of the industrial products company's stock valued at $69,605,000 after buying an additional 14,729 shares during the last quarter. Finally, Allianz Asset Management GmbH grew its stake in shares of Mueller Industries by 135.7% during the fourth quarter. Allianz Asset Management GmbH now owns 508,333 shares of the industrial products company's stock valued at $40,341,000 after buying an additional 292,697 shares during the last quarter. Hedge funds and other institutional investors own 94.50% of the company's stock.

Insider Activity at Mueller Industries

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

Mueller Industries Trading Down 0.9 %

Shares of NYSE:MLI traded down $0.75 during trading on Tuesday, reaching $78.75. 661,587 shares of the company traded hands, compared to its average volume of 817,714. Mueller Industries, Inc. has a 52-week low of $49.95 and a 52-week high of $96.81. The business's fifty day moving average is $80.18 and its 200-day moving average is $78.41. The firm has a market capitalization of $8.92 billion, a price-to-earnings ratio of 14.83 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 the consensus estimate of $1.12 by $0.09. Mueller Industries had a net margin of 16.05% and a return on equity of 22.97%.

Mueller Industries Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 14th will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Friday, March 14th. This is a boost from Mueller Industries's previous quarterly dividend of $0.20. This represents a $1.00 annualized dividend and a dividend yield of 1.27%. Mueller Industries's payout ratio is 18.83%.

Wall Street Analyst Weigh In

Separately, Northcoast Research raised Mueller Industries from a "neutral" rating to a "buy" rating and set a $105.00 target price 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.