Van ECK Associates Corp Raises Stock Holdings in Mueller Industries, Inc. (NYSE:MLI)

Van ECK Associates Corp raised its position in Mueller Industries, Inc. (NYSE:MLI - Free Report) by 40.0% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 72,704 shares of the industrial products company's stock after buying an additional 20,775 shares during the period. Van ECK Associates Corp owned about 0.06% of Mueller Industries worth $5,889,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of MLI. GAMMA Investing LLC grew its stake in Mueller Industries by 36.0% in the 3rd quarter. GAMMA Investing LLC now owns 552 shares of the industrial products company's stock valued at $41,000 after acquiring an additional 146 shares during the period. Miller Howard Investments Inc. NY raised its position in shares of Mueller Industries by 2.1% during the 2nd quarter. Miller Howard Investments Inc. NY now owns 7,188 shares of the industrial products company's stock worth $409,000 after purchasing an additional 151 shares during the last quarter. Kapitalo Investimentos Ltda lifted its stake in Mueller Industries by 3.5% in the 3rd quarter. Kapitalo Investimentos Ltda now owns 4,582 shares of the industrial products company's stock valued at $340,000 after buying an additional 156 shares in the last quarter. Summit Global Investments boosted its holdings in Mueller Industries by 1.6% in the 2nd quarter. Summit Global Investments now owns 12,844 shares of the industrial products company's stock worth $731,000 after buying an additional 204 shares during the last quarter. Finally, Hsbc Holdings PLC raised its holdings in shares of Mueller Industries by 1.8% during the second quarter. Hsbc Holdings PLC now owns 13,188 shares of the industrial products company's stock valued at $757,000 after acquiring an additional 233 shares during the last quarter. Institutional investors and hedge funds own 94.50% of the company's stock.

Insider Buying and Selling

In other Mueller Industries 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 value of $83,090.00. Following the completion of the sale, the director now owns 94,914 shares in the company, valued at approximately $7,886,404.26. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director John B. Hansen sold 1,000 shares of Mueller Industries stock in a transaction on Wednesday, October 30th. The stock was sold at an average price of $83.09, for a total transaction of $83,090.00. Following the transaction, the director now owns 94,914 shares in the company, valued at $7,886,404.26. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Gregory L. Christopher sold 50,000 shares of the company's stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $69.92, for a total transaction of $3,496,000.00. Following the completion of the sale, the chief executive officer now directly owns 1,214,311 shares of the company's stock, valued at $84,904,625.12. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 96,000 shares of company stock worth $6,626,940. 2.80% of the stock is owned by insiders.

Mueller Industries Stock Up 1.7 %

Shares of NYSE MLI traded up $1.57 during midday trading on Friday, hitting $95.08. The stock had a trading volume of 271,126 shares, compared to its average volume of 718,610. Mueller Industries, Inc. has a 1 year low of $37.54 and a 1 year high of $95.84. The company has a market capitalization of $10.81 billion, a PE ratio of 18.16 and a beta of 1.01. The stock has a 50 day simple moving average of $74.58 and a 200-day simple moving average of $65.66.

Mueller Industries (NYSE:MLI - Get Free Report) last announced its quarterly earnings data on Tuesday, October 22nd. The industrial products company reported $1.48 earnings per share for the quarter, beating 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 company had revenue of $997.80 million for the quarter, compared to analyst estimates of $936.00 million. The business's revenue was up 21.7% compared to the same quarter last year.

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.