Entropy Technologies LP Takes $532,000 Position in Mueller Industries, Inc. (NYSE:MLI)

Entropy Technologies LP purchased a new stake in Mueller Industries, Inc. (NYSE:MLI - Free Report) during the fourth quarter, according to its most recent filing with the SEC. The firm purchased 6,701 shares of the industrial products company's stock, valued at approximately $532,000.

A number of other institutional investors and hedge funds have also made changes to their positions in MLI. GAMMA Investing LLC increased its holdings in shares of Mueller Industries by 36.0% in the 3rd quarter. GAMMA Investing LLC now owns 552 shares of the industrial products company's stock valued at $41,000 after acquiring an additional 146 shares during the period. Westside Investment Management Inc. purchased a new position in shares of Mueller Industries in the 3rd quarter valued at $41,000. Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of Mueller Industries in the 4th quarter valued at $53,000. City State Bank purchased a new position in shares of Mueller Industries in the 4th quarter valued at $58,000. Finally, Harbor Capital Advisors Inc. purchased a new position in shares of Mueller Industries in the 3rd quarter valued at $64,000. 94.50% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Mueller Industries news, Director Scott Jay Goldman sold 10,000 shares of Mueller Industries stock in a transaction dated Thursday, February 13th. The stock was 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 owns 56,098 shares of the company's stock, valued at approximately $4,477,181.38. The trade was a 15.13 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Charles P. Herzog, Jr. sold 15,000 shares of Mueller Industries stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $92.04, for a total value of $1,380,600.00. Following the sale, the director now directly owns 17,733 shares of the company's stock, valued at approximately $1,632,145.32. This represents a 45.83 % decrease in their position. The disclosure for this sale can be found here. 2.80% of the stock is owned by company insiders.

Mueller Industries Stock Performance

MLI stock traded up $0.61 on Friday, hitting $81.23. 880,993 shares of the company's stock were exchanged, compared to its average volume of 729,991. Mueller Industries, Inc. has a 12-month low of $47.46 and a 12-month high of $96.81. The firm has a 50 day moving average price of $80.38 and a two-hundred day moving average price of $77.42. The stock has a market cap of $9.24 billion, a P/E ratio of 15.30 and a beta of 0.98.

Mueller Industries (NYSE:MLI - Get Free Report) last announced its earnings results on Tuesday, February 4th. The industrial products company reported $1.21 earnings per share for the quarter, topping 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%.

Analyst Upgrades and Downgrades

Separately, Northcoast Research upgraded Mueller Industries from a "neutral" rating to a "buy" rating and set a $105.00 price target on the stock in a report 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.