Farther Finance Advisors LLC Buys 7,843 Shares of Mueller Industries, Inc. (NYSE:MLI)

Farther Finance Advisors LLC grew its holdings in shares of Mueller Industries, Inc. (NYSE:MLI - Free Report) by 1,322.6% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 8,436 shares of the industrial products company's stock after purchasing an additional 7,843 shares during the quarter. Farther Finance Advisors LLC's holdings in Mueller Industries were worth $625,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in MLI. Vanguard Group Inc. lifted its holdings in Mueller Industries by 0.5% during the first quarter. Vanguard Group Inc. now owns 12,359,057 shares of the industrial products company's stock valued at $666,524,000 after purchasing an additional 59,060 shares during the last quarter. LSV Asset Management grew its position in Mueller Industries by 44.1% during the second quarter. LSV Asset Management now owns 2,094,682 shares of the industrial products company's stock valued at $119,271,000 after acquiring an additional 641,114 shares during the last quarter. Bank of New York Mellon Corp raised its position in Mueller Industries by 0.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,176,468 shares of the industrial products company's stock worth $66,988,000 after purchasing an additional 7,756 shares during the period. Vest Financial LLC lifted its stake in shares of Mueller Industries by 18.2% in the 2nd quarter. Vest Financial LLC now owns 414,417 shares of the industrial products company's stock valued at $23,597,000 after acquiring an additional 63,828 shares during the last quarter. Finally, New York State Common Retirement Fund increased its stake in shares of Mueller Industries by 20.4% in the third quarter. New York State Common Retirement Fund now owns 405,618 shares of the industrial products company's stock worth $30,056,000 after buying an additional 68,633 shares during the period. Hedge funds and other institutional investors own 94.50% of the company's stock.

Mueller Industries Stock Up 12.2 %

Shares of Mueller Industries stock traded up $10.34 during trading on Wednesday, reaching $95.07. 1,725,272 shares of the stock were exchanged, compared to its average volume of 803,835. Mueller Industries, Inc. has a 1 year low of $37.54 and a 1 year high of $95.84. The stock's fifty day moving average is $73.63 and its 200 day moving average is $65.26. The firm has a market cap of $10.81 billion, a price-to-earnings ratio of 18.46 and a beta of 1.01.

Mueller Industries (NYSE:MLI - Get Free Report) last posted its earnings results on Tuesday, October 22nd. The industrial products company reported $1.48 earnings per share for the quarter, topping analysts' consensus estimates of $1.32 by $0.16. Mueller Industries had a return on equity of 23.25% and a net margin of 16.39%. The firm had revenue of $997.80 million for the quarter, compared to the consensus estimate of $936.00 million. The company's revenue for the quarter was up 21.7% compared to the same quarter last year.

Insider Buying and Selling

In related news, Director John B. Hansen sold 8,000 shares of the company's stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $67.24, for a total value of $537,920.00. Following the transaction, the director now directly owns 95,914 shares of the company's stock, valued at approximately $6,449,257.36. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, Director John B. Hansen sold 8,000 shares of the firm's stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $67.24, for a total value of $537,920.00. Following the sale, the director now owns 95,914 shares in the company, valued at approximately $6,449,257.36. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director John B. Hansen sold 1,000 shares of the company's stock in a transaction on Wednesday, October 30th. The shares were sold at an average price of $83.09, for a total value of $83,090.00. Following the sale, the director now owns 94,914 shares of the company's stock, valued at approximately $7,886,404.26. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 104,000 shares of company stock worth $7,164,860 in the last 90 days. Insiders own 2.80% of the company's stock.

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.