Mueller Industries, Inc. (NYSE:MLI) Shares Bought by Vest Financial LLC

Vest Financial LLC increased its holdings in Mueller Industries, Inc. (NYSE:MLI) by 12.0% during the fourth quarter, Holdings Channel reports. The firm owned 431,226 shares of the industrial products company’s stock after purchasing an additional 46,103 shares during the period. Vest Financial LLC’s holdings in Mueller Industries were worth $34,222,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Sanctuary Advisors LLC bought a new position in shares of Mueller Industries in the second quarter valued at $599,000. Park Avenue Securities LLC acquired a new position in shares of Mueller Industries in the 3rd quarter worth $253,000. GAMMA Investing LLC raised its position 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. Atomi Financial Group Inc. purchased a new stake in shares of Mueller Industries during the third quarter valued at $292,000. Finally, Private Advisory Group LLC acquired a new position in shares of Mueller Industries in the 3rd quarter valued at $796,000. 94.50% of the stock is owned by institutional investors and hedge funds.

Mueller Industries Stock Performance

Shares of NYSE:MLI opened at $80.30 on Friday. The firm has a 50 day simple moving average of $80.25 and a 200 day simple moving average of $76.89. Mueller Industries, Inc. has a 52 week low of $47.46 and a 52 week high of $96.81. The company has a market cap of $9.13 billion, a PE ratio of 15.12 and a beta of 0.98.

Mueller Industries (NYSE:MLI) last issued its earnings results on Tuesday, February 4th. The industrial products company reported $1.21 EPS for the quarter, topping the consensus estimate of $1.12 by $0.09. Mueller Industries had a return on equity of 22.97% and a net margin of 16.05%.

Insider Buying and Selling at Mueller Industries

In other Mueller Industries news, Director Charles P. Herzog, Jr. sold 15,000 shares of the stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $92.04, for a total value of $1,380,600.00. Following the completion of the sale, the director now owns 17,733 shares in the company, valued at $1,632,145.32. This represents a 45.83 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 2.80% of the company’s stock.

Analysts Set New Price Targets

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

Mueller Industries Company 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.