Spire Wealth Management Increases Holdings in Mueller Industries, Inc. (NYSE:MLI)

Spire Wealth Management grew its position in shares of Mueller Industries, Inc. (NYSE:MLI) by 353.8% during the 4th quarter, HoldingsChannel.com reports. The firm owned 3,199 shares of the industrial products company’s stock after buying an additional 2,494 shares during the quarter. Spire Wealth Management’s holdings in Mueller Industries were worth $254,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. State Street Corp increased its stake in Mueller Industries by 3.2% in the 3rd quarter. State Street Corp now owns 4,451,143 shares of the industrial products company’s stock valued at $329,830,000 after buying an additional 139,406 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in shares of Mueller Industries by 27.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,469,736 shares of the industrial products company’s stock valued at $108,907,000 after acquiring an additional 315,490 shares during the last quarter. FMR LLC lifted its stake in shares of Mueller Industries by 2.6% during the third quarter. FMR LLC now owns 1,066,658 shares of the industrial products company’s stock valued at $79,039,000 after buying an additional 27,399 shares during the period. Systematic Financial Management LP grew its position in shares of Mueller Industries by 1.6% in the third quarter. Systematic Financial Management LP now owns 939,342 shares of the industrial products company’s stock valued at $69,605,000 after purchasing an additional 14,729 shares during the period. Finally, Fiera Capital Corp acquired a new stake in shares of Mueller Industries in the third quarter worth approximately $35,552,000. Hedge funds and other institutional investors own 94.50% of the company’s stock.

Mueller Industries Price Performance

Mueller Industries stock opened at $81.33 on Friday. The firm’s fifty day moving average price is $80.26 and its 200 day moving average price is $76.78. The company has a market capitalization of $9.25 billion, a price-to-earnings ratio of 15.79 and a beta of 0.98. Mueller Industries, Inc. has a 12-month low of $47.46 and a 12-month high of $96.81.

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

Wall Street Analysts Forecast Growth

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

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 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 legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 2.80% of the stock is owned by corporate insiders.

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.