Warren Street Wealth Advisors LLC Purchases Shares of 2,620 Mueller Industries, Inc. (NYSE:MLI)

Warren Street Wealth Advisors LLC acquired a new position in shares of Mueller Industries, Inc. (NYSE:MLI) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 2,620 shares of the industrial products company’s stock, valued at approximately $208,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Van ECK Associates Corp boosted its position in shares of Mueller Industries by 28.0% in the fourth quarter. Van ECK Associates Corp now owns 93,090 shares of the industrial products company’s stock worth $7,388,000 after buying an additional 20,386 shares during the period. Four Tree Island Advisory LLC bought a new stake in shares of Mueller Industries in the 4th quarter valued at approximately $19,376,000. Legacy Financial Strategies LLC bought a new stake in Mueller Industries in the fourth quarter worth approximately $272,000. Entropy Technologies LP acquired a new position in Mueller Industries during the fourth quarter worth $532,000. Finally, Kingsview Wealth Management LLC acquired a new position in shares of Mueller Industries during the 4th quarter valued at about $2,254,000. Institutional investors and hedge funds own 94.50% of the company’s stock.

Analyst Upgrades and Downgrades

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

Mueller Industries Price Performance

Shares of Mueller Industries stock opened at $79.42 on Thursday. The firm has a fifty day moving average price of $80.30 and a two-hundred day moving average price of $77.21. Mueller Industries, Inc. has a fifty-two week low of $47.46 and a fifty-two week high of $96.81. The company has a market cap of $9.03 billion, a PE ratio of 14.96 and a beta of 0.98.

Mueller Industries (NYSE:MLI) last released its quarterly earnings data on Tuesday, February 4th. The industrial products company reported $1.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.12 by $0.09. Mueller Industries had a return on equity of 22.97% and a net margin of 16.05%.

Insiders Place Their Bets

In related news, Director Charles P. Herzog, Jr. sold 15,000 shares of the stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $92.04, for a total transaction 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 trade represents a 45.83 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 2.80% of the company’s stock.

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.