Mueller Industries, Inc. (NYSE:MLI) Shares Sold by MeadowBrook Investment Advisors LLC

MeadowBrook Investment Advisors LLC decreased its position in shares of Mueller Industries, Inc. (NYSE:MLI) by 14.4% in the fourth quarter, HoldingsChannel reports. The firm owned 4,100 shares of the industrial products company’s stock after selling 690 shares during the quarter. MeadowBrook Investment Advisors LLC’s holdings in Mueller Industries were worth $325,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of MLI. GAMMA Investing LLC lifted its holdings in shares of Mueller Industries by 36.0% during 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 period. Westside Investment Management Inc. purchased a new position in Mueller Industries during the third quarter valued at approximately $41,000. Mirae Asset Global Investments Co. Ltd. purchased a new position in Mueller Industries during the fourth quarter valued at approximately $53,000. City State Bank purchased a new position in Mueller Industries during the fourth quarter valued at approximately $58,000. Finally, Harbor Capital Advisors Inc. purchased a new position in Mueller Industries during the third quarter valued at approximately $64,000. Institutional investors and hedge funds own 94.50% of the company’s stock.

Mueller Industries Price Performance

Shares of NYSE:MLI opened at $80.90 on Wednesday. The business’s 50 day moving average price is $80.28 and its 200-day moving average price is $77.20. The firm has a market capitalization of $9.20 billion, a PE ratio of 15.23 and a beta of 0.98. Mueller Industries, Inc. has a 1 year low of $47.46 and a 1 year high of $96.81.

Mueller Industries (NYSE:MLI) last issued its quarterly earnings results on Tuesday, February 4th. The industrial products company reported $1.21 earnings per share (EPS) for the quarter, topping 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 Upgrades and Downgrades

Separately, Northcoast Research upgraded Mueller Industries from a “neutral” rating to a “buy” rating and set a $105.00 price objective for the company in a research report on Wednesday, December 11th.

Insiders Place Their Bets

In other news, Director Charles P. Herzog, Jr. sold 15,000 shares of the company’s stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $92.04, for a total value of $1,380,600.00. Following the transaction, the director now owns 17,733 shares of the company’s stock, 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 SEC, which is available at this hyperlink. 2.80% of the stock is currently owned by corporate 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.