Retirement Systems of Alabama Takes $11.88 Million Position in Mueller Industries, Inc. (NYSE:MLI)

Retirement Systems of Alabama purchased a new position in Mueller Industries, Inc. (NYSE:MLI) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 149,660 shares of the industrial products company’s stock, valued at approximately $11,877,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Sanctuary Advisors LLC bought a new position in Mueller Industries in the 2nd quarter worth about $599,000. Park Avenue Securities LLC purchased a new stake in shares of Mueller Industries in the third quarter valued at approximately $253,000. GAMMA Investing LLC grew its stake in Mueller Industries by 36.0% in 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. Atomi Financial Group Inc. purchased a new position in Mueller Industries during the 3rd quarter worth $292,000. Finally, Private Advisory Group LLC bought a new stake in Mueller Industries during the 3rd quarter valued at $796,000. Institutional investors own 94.50% of the company’s stock.

Mueller Industries Stock Performance

NYSE MLI opened at $80.30 on Friday. The company’s 50-day simple moving average is $80.25 and its two-hundred day simple moving average is $76.89. Mueller Industries, Inc. has a one year low of $47.46 and a one year high of $96.81. The company has a market capitalization of $9.13 billion, a price-to-earnings ratio of 15.59 and a beta of 0.98.

Mueller Industries (NYSE:MLI) last issued its quarterly earnings data on Tuesday, February 4th. The industrial products company reported $1.21 EPS for the quarter, topping analysts’ consensus estimates of $1.12 by $0.09. Mueller Industries had a net margin of 16.39% and a return on equity of 23.25%.

Insider Buying and Selling

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 sale, the director now owns 17,733 shares in the company, valued at approximately $1,632,145.32. This represents a 45.83 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 2.80% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Separately, Northcoast Research raised Mueller Industries from a “neutral” rating to a “buy” rating and set a $105.00 price target on the stock 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.