Mueller Industries, Inc. (NYSE:MLI) Shares Sold by Measured Wealth Private Client Group LLC

Measured Wealth Private Client Group LLC trimmed its position in Mueller Industries, Inc. (NYSE:MLI) by 8.0% in the 4th quarter, HoldingsChannel reports. The firm owned 9,002 shares of the industrial products company’s stock after selling 786 shares during the quarter. Measured Wealth Private Client Group LLC’s holdings in Mueller Industries were worth $714,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. New York State Common Retirement Fund raised its position in Mueller Industries by 20.4% during the 3rd quarter. New York State Common Retirement Fund now owns 405,618 shares of the industrial products company’s stock worth $30,056,000 after buying an additional 68,633 shares during the last quarter. State Street Corp increased its stake in shares of Mueller Industries by 3.2% in the third 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 during the period. Farther Finance Advisors LLC raised its holdings in shares of Mueller Industries by 1,322.6% during the third quarter. Farther Finance Advisors LLC now owns 8,436 shares of the industrial products company’s stock worth $625,000 after purchasing an additional 7,843 shares during the last quarter. Merit Financial Group LLC acquired a new position in Mueller Industries during the fourth quarter valued at $287,000. Finally, Creative Planning boosted its holdings in Mueller Industries by 36.5% in the third quarter. Creative Planning now owns 40,081 shares of the industrial products company’s stock valued at $2,970,000 after purchasing an additional 10,714 shares during the last quarter. Institutional investors and hedge funds own 94.50% of the company’s stock.

Insiders Place Their Bets

In other news, Director Charles P. Herzog, Jr. sold 15,000 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the director now directly owns 17,733 shares in the company, valued at $1,632,145.32. The trade was a 45.83 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 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 for the company in a research note on Wednesday, December 11th.

Mueller Industries Trading Up 3.9 %

Shares of NYSE:MLI opened at $81.33 on Friday. Mueller Industries, Inc. has a 12-month low of $47.46 and a 12-month high of $96.81. The business has a 50 day moving average of $80.26 and a two-hundred day moving average of $76.78. The company has a market capitalization of $9.25 billion, a PE ratio of 15.79 and a beta of 0.98.

Mueller Industries (NYSE:MLI) last posted its earnings results on Tuesday, February 4th. The industrial products company reported $1.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.12 by $0.09. Mueller Industries had a net margin of 16.39% and a return on equity of 23.25%.

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.