Louisiana State Employees Retirement System Reduces Holdings in Mueller Industries, Inc. (NYSE:MLI)

Louisiana State Employees Retirement System trimmed its position in shares of Mueller Industries, Inc. (NYSE:MLI) by 42.3% in the 4th quarter, Holdings Channel reports. The firm owned 31,600 shares of the industrial products company’s stock after selling 23,200 shares during the period. Louisiana State Employees Retirement System’s holdings in Mueller Industries were worth $2,508,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in MLI. GAMMA Investing LLC increased its position in shares of Mueller Industries by 36.0% during the third quarter. GAMMA Investing LLC now owns 552 shares of the industrial products company’s stock worth $41,000 after purchasing an additional 146 shares in the last quarter. Westside Investment Management Inc. purchased a new stake in shares of Mueller Industries during the third quarter worth approximately $41,000. Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of Mueller Industries during the fourth quarter worth approximately $53,000. City State Bank purchased a new stake in shares of Mueller Industries during the fourth quarter worth approximately $58,000. Finally, Harbor Capital Advisors Inc. purchased a new stake in shares of Mueller Industries during the third quarter worth approximately $64,000. 94.50% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

Mueller Industries Stock Up 1.6 %

Shares of NYSE:MLI opened at $80.73 on Friday. The business has a fifty day moving average of $80.33 and a two-hundred day moving average of $77.24. The stock has a market cap of $9.18 billion, a P/E ratio of 15.20 and a beta of 0.98. Mueller Industries, Inc. has a 52-week low of $47.46 and a 52-week high of $96.81.

Mueller Industries (NYSE:MLI) last issued its earnings results on Tuesday, February 4th. The industrial products company reported $1.21 earnings per share (EPS) for the quarter, beating 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%.

Insider Buying and Selling at Mueller Industries

In other news, Director Charles P. Herzog, Jr. sold 15,000 shares of the stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $92.04, for a total transaction of $1,380,600.00. Following the completion of the transaction, the director now directly owns 17,733 shares in the company, valued at approximately $1,632,145.32. This represents a 45.83 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 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 value of $798,100.00. Following the transaction, the director now owns 56,098 shares of the company’s stock, valued at approximately $4,477,181.38. This represents a 15.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.80% of the stock is owned by company insiders.

About Mueller Industries

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.