Mueller Industries, Inc. (NYSE:MLI) Shares Purchased by Kestra Investment Management LLC

Kestra Investment Management LLC raised its holdings in Mueller Industries, Inc. (NYSE:MLI) by 7.7% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 3,045 shares of the industrial products company’s stock after acquiring an additional 218 shares during the quarter. Kestra Investment Management LLC’s holdings in Mueller Industries were worth $242,000 as of its most recent filing with the SEC.

Several other institutional investors also recently made changes to their positions in the stock. New York State Common Retirement Fund lifted its stake in shares of 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 valued at $30,056,000 after purchasing an additional 68,633 shares during the period. State Street Corp boosted its stake in shares of Mueller Industries by 3.2% during the 3rd quarter. State Street Corp now owns 4,451,143 shares of the industrial products company’s stock worth $329,830,000 after acquiring an additional 139,406 shares in the last quarter. Farther Finance Advisors LLC grew its holdings in shares of Mueller Industries by 1,322.6% in the 3rd quarter. Farther Finance Advisors LLC now owns 8,436 shares of the industrial products company’s stock worth $625,000 after acquiring an additional 7,843 shares during the period. Flagship Harbor Advisors LLC purchased a new position in Mueller Industries in the 4th quarter valued at approximately $300,000. Finally, Merit Financial Group LLC acquired a new position in Mueller Industries during the fourth quarter worth $287,000. 94.50% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

Insider Activity

In related news, Director Scott Jay Goldman sold 10,000 shares of the business’s stock in a transaction dated Thursday, February 13th. The shares were sold at an average price of $79.81, for a total value of $798,100.00. Following the completion of the transaction, the director now owns 56,098 shares of the company’s stock, valued at approximately $4,477,181.38. The trade was a 15.13 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 2.80% of the company’s stock.

Mueller Industries Trading Down 0.9 %

Shares of MLI opened at $81.57 on Thursday. Mueller Industries, Inc. has a 12-month low of $47.46 and a 12-month high of $96.81. The stock has a market cap of $9.28 billion, a P/E ratio of 15.36 and a beta of 0.98. The company has a 50-day moving average of $80.44 and a two-hundred day moving average of $77.64.

Mueller Industries (NYSE:MLI) last issued its quarterly earnings data on Tuesday, February 4th. The industrial products company reported $1.21 earnings per share (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%.

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.