Kingsview Wealth Management LLC Buys New Holdings in Mueller Industries, Inc. (NYSE:MLI)

Kingsview Wealth Management LLC bought a new stake in Mueller Industries, Inc. (NYSE:MLI - Free Report) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 28,404 shares of the industrial products company's stock, valued at approximately $2,254,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. State Street Corp increased its position in Mueller Industries by 3.2% during the third quarter. State Street Corp now owns 4,451,143 shares of the industrial products company's stock worth $329,830,000 after purchasing an additional 139,406 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in Mueller Industries by 27.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,469,736 shares of the industrial products company's stock worth $108,907,000 after purchasing an additional 315,490 shares during the last quarter. FMR LLC boosted its stake in Mueller Industries by 2.6% during the third quarter. FMR LLC now owns 1,066,658 shares of the industrial products company's stock worth $79,039,000 after buying an additional 27,399 shares during the period. Systematic Financial Management LP boosted its stake in Mueller Industries by 1.6% during the third quarter. Systematic Financial Management LP now owns 939,342 shares of the industrial products company's stock worth $69,605,000 after buying an additional 14,729 shares during the period. Finally, Fiera Capital Corp purchased a new position in Mueller Industries during the third quarter worth about $35,552,000. 94.50% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, Northcoast Research raised 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.

Insider Activity

In other news, Director Charles P. Herzog, Jr. sold 15,000 shares of the firm's stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $92.04, for a total value of $1,380,600.00. Following the completion of the transaction, the director now owns 17,733 shares of the company's stock, valued at approximately $1,632,145.32. This trade represents a 45.83 % decrease in their ownership of the stock. 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 firm'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 transaction of $798,100.00. Following the completion of the transaction, the director now directly 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 disclosure for this sale can be found here. Insiders own 2.80% of the company's stock.

Mueller Industries Stock Up 0.8 %

MLI stock traded up $0.61 during mid-day trading on Friday, hitting $81.23. 880,993 shares of the company were exchanged, compared to its average volume of 734,050. The firm has a market capitalization of $9.24 billion, a P/E ratio of 15.30 and a beta of 0.98. The business has a fifty day simple moving average of $80.38 and a 200-day simple moving average of $77.32. 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 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 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.