Mueller Industries, Inc. (NYSE:MLI) Shares Bought by Catalyst Capital Advisors LLC

Catalyst Capital Advisors LLC grew its stake in Mueller Industries, Inc. (NYSE:MLI - Free Report) by 8,040.2% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,455 shares of the industrial products company's stock after buying an additional 19,216 shares during the period. Catalyst Capital Advisors LLC's holdings in Mueller Industries were worth $1,442,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of MLI. International Assets Investment Management LLC purchased a new stake in Mueller Industries in the second quarter worth about $26,000. Federated Hermes Inc. bought a new position in shares of Mueller Industries during the 2nd quarter valued at about $28,000. Opal Wealth Advisors LLC bought a new stake in Mueller Industries in the 2nd quarter worth approximately $30,000. GAMMA Investing LLC increased its position in Mueller Industries by 36.0% in the third quarter. GAMMA Investing LLC now owns 552 shares of the industrial products company's stock worth $41,000 after purchasing an additional 146 shares during the last quarter. Finally, Harbor Capital Advisors Inc. purchased a new stake in shares of Mueller Industries during the 3rd quarter valued at about $64,000. 94.50% of the stock is currently owned by hedge funds and other institutional investors.

Mueller Industries Price Performance

Shares of MLI traded up $1.73 during mid-day trading on Tuesday, reaching $84.73. 504,480 shares of the company's stock traded hands, compared to its average volume of 715,633. The stock's 50-day moving average is $73.33 and its two-hundred day moving average is $65.03. The stock has a market cap of $9.64 billion, a P/E ratio of 16.45 and a beta of 1.01. Mueller Industries, Inc. has a 12 month low of $37.54 and a 12 month high of $84.88.

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

Insiders Place Their Bets

In other news, Director John B. Hansen sold 1,000 shares of the stock in a transaction dated Wednesday, October 30th. The shares were sold at an average price of $83.09, for a total transaction of $83,090.00. Following the sale, the director now directly owns 94,914 shares of the company's stock, valued at $7,886,404.26. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other Mueller Industries news, CEO Gregory L. Christopher sold 50,000 shares of the company's stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $69.92, for a total transaction of $3,496,000.00. Following the transaction, the chief executive officer now directly owns 1,214,311 shares in the company, valued at $84,904,625.12. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director John B. Hansen sold 1,000 shares of the business's stock in a transaction on Wednesday, October 30th. The stock was sold at an average price of $83.09, for a total value of $83,090.00. Following the transaction, the director now directly owns 94,914 shares of the company's stock, valued at $7,886,404.26. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 104,000 shares of company stock valued at $7,164,860. 2.80% of the stock is owned by insiders.

About Mueller Industries

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.