Vest Financial LLC Raises Stake in Mueller Industries, Inc. (NYSE:MLI)

Vest Financial LLC raised its holdings in Mueller Industries, Inc. (NYSE:MLI - Free Report) by 12.0% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 431,226 shares of the industrial products company's stock after buying an additional 46,103 shares during the quarter. Vest Financial LLC owned 0.38% of Mueller Industries worth $34,222,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the business. GAMMA Investing LLC lifted its stake in Mueller Industries by 36.0% in the third 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. Kapitalo Investimentos Ltda raised its position in shares of Mueller Industries by 3.5% during the third quarter. Kapitalo Investimentos Ltda now owns 4,582 shares of the industrial products company's stock worth $340,000 after purchasing an additional 156 shares during the period. GM Advisory Group LLC raised its position in shares of Mueller Industries by 5.3% during the third quarter. GM Advisory Group LLC now owns 3,792 shares of the industrial products company's stock worth $281,000 after purchasing an additional 192 shares during the period. Caprock Group LLC raised its position in Mueller Industries by 2.3% in the 4th quarter. Caprock Group LLC now owns 8,495 shares of the industrial products company's stock valued at $674,000 after buying an additional 194 shares during the last quarter. Finally, Atria Investments Inc raised its position in Mueller Industries by 2.5% in the 3rd quarter. Atria Investments Inc now owns 12,396 shares of the industrial products company's stock valued at $919,000 after buying an additional 302 shares during the last quarter. 94.50% of the stock is owned by institutional investors and hedge funds.

Mueller Industries Stock Down 1.7 %

NYSE MLI traded down $1.40 on Wednesday, reaching $79.42. The company had a trading volume of 975,473 shares, compared to its average volume of 731,813. The stock has a market capitalization of $9.03 billion, a P/E ratio of 14.96 and a beta of 0.98. The company's fifty 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.

Mueller Industries (NYSE:MLI - Get Free Report) last announced its quarterly earnings data on Tuesday, February 4th. The industrial products company reported $1.21 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.12 by $0.09. Mueller Industries had a return on equity of 22.97% and a net margin of 16.05%.

Analyst Ratings Changes

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 report on Wednesday, December 11th.

Insider Buying and Selling at Mueller Industries

In other news, Director Charles P. Herzog, Jr. sold 15,000 shares of the stock in a transaction 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 transaction, the director now owns 17,733 shares in the company, valued at approximately $1,632,145.32. This represents a 45.83 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate 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.