Mueller Industries, Inc. (NYSE:MLI) Stock Position Boosted by Raymond James & Associates

Raymond James & Associates increased its position in Mueller Industries, Inc. (NYSE:MLI) by 6.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 65,848 shares of the industrial products company’s stock after buying an additional 4,226 shares during the quarter. Raymond James & Associates’ holdings in Mueller Industries were worth $4,879,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently bought and sold shares of MLI. First Trust Direct Indexing L.P. purchased a new stake in shares of Mueller Industries in the first quarter valued at $210,000. Van ECK Associates Corp raised its holdings in Mueller Industries by 36.5% in the 1st quarter. Van ECK Associates Corp now owns 47,059 shares of the industrial products company’s stock valued at $2,538,000 after acquiring an additional 12,586 shares in the last quarter. Private Advisor Group LLC bought a new position in Mueller Industries in the first quarter worth $461,000. Capstone Investment Advisors LLC acquired a new stake in Mueller Industries during the first quarter worth $689,000. Finally, Jennison Associates LLC increased its holdings in Mueller Industries by 2.3% in the 1st quarter. Jennison Associates LLC now owns 20,563 shares of the industrial products company’s stock valued at $1,109,000 after buying an additional 469 shares during the period. 94.50% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Mueller Industries

In other Mueller Industries news, CEO Gregory L. Christopher sold 45,000 shares of Mueller Industries stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $67.73, for a total transaction of $3,047,850.00. Following the completion of the transaction, the chief executive officer now directly owns 1,264,311 shares of the company’s stock, valued at approximately $85,631,784.03. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, CEO Gregory L. Christopher sold 45,000 shares of Mueller Industries stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $67.73, for a total value of $3,047,850.00. Following the completion of the transaction, the chief executive officer now directly owns 1,264,311 shares of the company’s stock, valued at $85,631,784.03. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director John B. Hansen sold 8,000 shares of the stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $67.24, for a total transaction of $537,920.00. Following the sale, the director now directly owns 95,914 shares in the company, valued at approximately $6,449,257.36. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 104,000 shares of company stock valued at $7,164,860 in the last 90 days. 2.80% of the stock is owned by corporate insiders.

Mueller Industries Stock Performance

NYSE:MLI opened at $81.46 on Friday. The company has a 50-day moving average of $73.09 and a 200-day moving average of $64.64. Mueller Industries, Inc. has a 52 week low of $37.54 and a 52 week high of $84.11. The company has a market capitalization of $9.27 billion, a price-to-earnings ratio of 15.82 and a beta of 1.03.

Mueller Industries (NYSE:MLI) last announced its quarterly earnings results on Tuesday, October 22nd. The industrial products company reported $1.48 EPS for the quarter, topping analysts’ consensus estimates of $1.32 by $0.16. Mueller Industries had a net margin of 16.39% and a return on equity of 23.25%. The firm had revenue of $997.80 million during the quarter, compared to analysts’ expectations of $936.00 million. The company’s quarterly revenue was up 21.7% on a year-over-year basis.

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.