F M Investments LLC Sells 2,126 Shares of Mueller Industries, Inc. (NYSE:MLI)

F M Investments LLC cut its stake in shares of Mueller Industries, Inc. (NYSE:MLI) by 0.8% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 251,479 shares of the industrial products company’s stock after selling 2,126 shares during the quarter. F M Investments LLC owned 0.22% of Mueller Industries worth $18,635,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Vanguard Group Inc. raised its holdings in shares of Mueller Industries by 0.5% during the 1st quarter. Vanguard Group Inc. now owns 12,359,057 shares of the industrial products company’s stock valued at $666,524,000 after buying an additional 59,060 shares in the last quarter. LSV Asset Management lifted its holdings in shares of Mueller Industries by 44.1% in the 2nd quarter. LSV Asset Management now owns 2,094,682 shares of the industrial products company’s stock worth $119,271,000 after acquiring an additional 641,114 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in shares of Mueller Industries by 0.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,176,468 shares of the industrial products company’s stock valued at $66,988,000 after purchasing an additional 7,756 shares during the last quarter. Vest Financial LLC raised its position in Mueller Industries by 18.2% in the 2nd quarter. Vest Financial LLC now owns 414,417 shares of the industrial products company’s stock worth $23,597,000 after purchasing an additional 63,828 shares during the period. Finally, New York State Common Retirement Fund lifted its stake in Mueller Industries by 20.4% in the third quarter. New York State Common Retirement Fund now owns 405,618 shares of the industrial products company’s stock worth $30,056,000 after purchasing an additional 68,633 shares during the last quarter. Hedge funds and other institutional investors own 94.50% of the company’s stock.

Mueller Industries Stock Down 0.6 %

Shares of NYSE MLI traded down $0.51 during midday trading on Friday, reaching $81.46. The company had a trading volume of 930,182 shares, compared to its average volume of 717,143. Mueller Industries, Inc. has a one year low of $37.54 and a one year high of $84.11. The stock has a market cap of $9.27 billion, a PE ratio of 15.82 and a beta of 1.03. The firm’s fifty day moving average price is $73.09 and its 200-day moving average price is $64.64.

Mueller Industries (NYSE:MLI) last issued its earnings results 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. 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 the consensus estimate of $936.00 million. The business’s revenue for the quarter was up 21.7% compared to the same quarter last year.

Insider Buying and Selling

In other Mueller Industries news, Director John B. Hansen sold 8,000 shares of the stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $67.24, for a total transaction of $537,920.00. Following the completion of the transaction, the director now owns 95,914 shares of the company’s stock, valued at $6,449,257.36. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director John B. Hansen sold 8,000 shares of the company’s stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $67.24, for a total transaction of $537,920.00. Following the sale, the director now directly owns 95,914 shares of the company’s stock, valued at $6,449,257.36. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Gregory L. Christopher sold 50,000 shares of the firm’s stock in a transaction on 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 transaction, the chief executive officer now directly owns 1,214,311 shares of the company’s stock, valued at approximately $84,904,625.12. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 104,000 shares of company stock worth $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.