Kingsview Wealth Management LLC Acquires Shares of 28,404 Mueller Industries, Inc. (NYSE:MLI)

Kingsview Wealth Management LLC bought a new position in Mueller Industries, Inc. (NYSE:MLI) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 28,404 shares of the industrial products company’s stock, valued at approximately $2,254,000.

A number of other hedge funds have also made changes to their positions in MLI. GAMMA Investing LLC lifted 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 in the last quarter. Westside Investment Management Inc. bought a new position in Mueller Industries in the 3rd quarter worth approximately $41,000. Mirae Asset Global Investments Co. Ltd. acquired a new position in Mueller Industries during the 4th quarter worth $53,000. City State Bank bought a new position in Mueller Industries in the 4th quarter valued at $58,000. Finally, Harbor Capital Advisors Inc. acquired a new stake in shares of Mueller Industries in the 3rd quarter valued at $64,000. Institutional investors and hedge funds own 94.50% of the company’s stock.

Mueller Industries Trading Up 0.1 %

Shares of NYSE MLI opened at $80.39 on Tuesday. The firm has a market capitalization of $9.14 billion, a PE ratio of 15.14 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. The firm’s 50-day moving average is $80.24 and its 200-day moving average is $77.12.

Mueller Industries (NYSE:MLI) last announced its quarterly earnings results 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%.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling at Mueller Industries

In other Mueller Industries news, Director Charles P. Herzog, Jr. sold 15,000 shares of Mueller Industries stock in a transaction dated 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 sale, the director now owns 17,733 shares of the company’s stock, valued at $1,632,145.32. This trade represents a 45.83 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 2.80% of the company’s stock.

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.