Valeo Financial Advisors LLC purchased a new position in Mueller Industries, Inc. (NYSE:MLI – Free Report) during the fourth quarter, HoldingsChannel reports. The fund purchased 2,585 shares of the industrial products company’s stock, valued at approximately $205,000.
A number of other large investors also recently added to or reduced their stakes in MLI. Fiera Capital Corp purchased a new position in Mueller Industries in the 3rd quarter worth approximately $35,552,000. Charles Schwab Investment Management Inc. increased its stake in Mueller Industries by 27.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,469,736 shares of the industrial products company’s stock worth $108,907,000 after acquiring an additional 315,490 shares during the last quarter. Four Tree Island Advisory LLC bought a new stake in Mueller Industries in the 4th quarter worth approximately $19,376,000. Caisse DE Depot ET Placement DU Quebec increased its stake in Mueller Industries by 77.4% in the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 393,417 shares of the industrial products company’s stock worth $29,152,000 after acquiring an additional 171,671 shares during the last quarter. Finally, Barclays PLC increased its stake in Mueller Industries by 343.9% in the 3rd quarter. Barclays PLC now owns 197,206 shares of the industrial products company’s stock worth $14,613,000 after acquiring an additional 152,780 shares during the last quarter. 94.50% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
Separately, Northcoast Research raised Mueller Industries from a “neutral” rating to a “buy” rating and set a $105.00 price objective on the stock in a research note on Wednesday, December 11th.
Read Our Latest Analysis on Mueller Industries
Mueller Industries Price Performance
NYSE:MLI opened at $82.24 on Wednesday. Mueller Industries, Inc. has a 1 year low of $47.46 and a 1 year high of $96.81. The stock’s 50 day simple moving average is $80.49 and its two-hundred day simple moving average is $77.61. The company has a market cap of $9.35 billion, a price-to-earnings ratio of 15.49 and a beta of 0.98.
Mueller Industries (NYSE:MLI – Get Free Report) last released its quarterly earnings data on Tuesday, February 4th. The industrial products company reported $1.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.12 by $0.09. Mueller Industries had a return on equity of 22.97% and a net margin of 16.05%.
Insider Activity
In other news, Director Charles P. Herzog, Jr. sold 15,000 shares of the business’s stock in a transaction that occurred 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 transaction, the director now owns 17,733 shares of the company’s stock, valued at approximately $1,632,145.32. The trade was a 45.83 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Scott Jay Goldman sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, February 13th. The shares were sold at an average price of $79.81, for a total value of $798,100.00. Following the transaction, the director now directly owns 56,098 shares in the company, valued at approximately $4,477,181.38. This represents a 15.13 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 2.80% of the company’s stock.
Mueller Industries Company Profile
(Free Report)
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.
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