244,157 Shares in Mueller Industries, Inc. (NYSE:MLI) Bought by Four Tree Island Advisory LLC

Four Tree Island Advisory LLC acquired a new position in shares of Mueller Industries, Inc. (NYSE:MLI - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 244,157 shares of the industrial products company's stock, valued at approximately $19,376,000. Mueller Industries comprises approximately 13.4% of Four Tree Island Advisory LLC's holdings, making the stock its largest holding. Four Tree Island Advisory LLC owned about 0.21% of Mueller Industries as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the stock. GAMMA Investing LLC increased its stake in shares of 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. Westside Investment Management Inc. purchased a new position in shares of Mueller Industries in the third quarter worth about $41,000. Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of Mueller Industries in the fourth quarter worth about $53,000. City State Bank purchased a new position in shares of Mueller Industries in the fourth quarter worth about $58,000. Finally, Harbor Capital Advisors Inc. purchased a new position in shares of Mueller Industries in the third quarter worth about $64,000. Hedge funds and other institutional investors own 94.50% of the company's stock.

Insider Activity at Mueller Industries

In other Mueller Industries news, Director Scott Jay Goldman sold 10,000 shares of Mueller Industries stock in a transaction that occurred on Thursday, February 13th. The shares were sold at an average price of $79.81, for a total transaction of $798,100.00. Following the completion of the sale, the director now directly owns 56,098 shares in the company, valued at $4,477,181.38. The trade was a 15.13 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Charles P. Herzog, Jr. sold 15,000 shares of Mueller Industries stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $92.04, for a total transaction of $1,380,600.00. Following the sale, 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 ownership of the stock. The disclosure for this sale can be found here. 2.80% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Separately, Northcoast Research upgraded shares of 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 Stock Up 1.6 %

NYSE:MLI traded up $1.31 during mid-day trading on Thursday, hitting $80.73. 649,576 shares of the stock traded hands, compared to its average volume of 728,975. The business's 50-day moving average price is $80.33 and its 200 day moving average price is $77.24. The company has a market cap of $9.18 billion, a PE ratio of 15.20 and a beta of 0.98. Mueller Industries, Inc. has a 12-month low of $47.46 and a 12-month high of $96.81.

Mueller Industries (NYSE:MLI - Get Free Report) last issued its quarterly earnings data on Tuesday, February 4th. The industrial products company reported $1.21 EPS 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 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.