3,412 Shares in Mueller Industries, Inc. (NYSE:MLI) Bought by Legacy Financial Strategies LLC

Legacy Financial Strategies LLC bought a new position in Mueller Industries, Inc. (NYSE:MLI - Free Report) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 3,412 shares of the industrial products company's stock, valued at approximately $272,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in MLI. Sanctuary Advisors LLC acquired a new stake in Mueller Industries during the 2nd quarter worth about $599,000. Park Avenue Securities LLC purchased a new stake in Mueller Industries in the 3rd quarter worth approximately $253,000. GAMMA Investing LLC boosted its stake in shares of Mueller Industries by 36.0% during the 3rd quarter. GAMMA Investing LLC now owns 552 shares of the industrial products company's stock valued at $41,000 after buying an additional 146 shares during the period. Atomi Financial Group Inc. acquired a new position in shares of Mueller Industries in the third quarter worth $292,000. Finally, Private Advisory Group LLC purchased a new stake in shares of Mueller Industries during the third quarter worth $796,000. 94.50% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Mueller Industries

In related news, Director Charles P. Herzog, Jr. sold 15,000 shares of the 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 completion of the sale, the director now owns 17,733 shares in the company, valued at $1,632,145.32. This represents a 45.83 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 2.80% of the stock is currently owned by company insiders.

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 target for the company in a research note on Wednesday, December 11th.

Mueller Industries Stock Performance

Shares of MLI traded down $1.40 during trading hours on Wednesday, hitting $79.42. 975,473 shares of the company were exchanged, compared to its average volume of 731,813. The firm's 50 day moving average is $80.30 and its 200-day moving average is $77.21. Mueller Industries, Inc. has a 52 week low of $47.46 and a 52 week high of $96.81. The company has a market cap of $9.03 billion, a PE ratio of 14.96 and a beta of 0.98.

Mueller Industries (NYSE:MLI - Get Free Report) last announced its quarterly earnings results 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 return on equity of 22.97% and a net margin of 16.05%.

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.