MeadowBrook Investment Advisors LLC Reduces Stock Position in Mueller Industries, Inc. (NYSE:MLI)

MeadowBrook Investment Advisors LLC lessened its position in shares of Mueller Industries, Inc. (NYSE:MLI) by 14.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 4,100 shares of the industrial products company’s stock after selling 690 shares during the quarter. MeadowBrook Investment Advisors LLC’s holdings in Mueller Industries were worth $325,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of MLI. Four Tree Island Advisory LLC purchased a new stake in shares of Mueller Industries during the 4th quarter valued at about $19,376,000. Legacy Financial Strategies LLC purchased a new stake in Mueller Industries in the 4th quarter worth approximately $272,000. Entropy Technologies LP purchased a new stake in Mueller Industries in the 4th quarter worth approximately $532,000. Kingsview Wealth Management LLC purchased a new stake in Mueller Industries in the 4th quarter worth approximately $2,254,000. Finally, Vest Financial LLC increased its holdings in Mueller Industries by 12.0% in the 4th quarter. Vest Financial LLC now owns 431,226 shares of the industrial products company’s stock worth $34,222,000 after acquiring an additional 46,103 shares in the last quarter. Institutional investors own 94.50% of the company’s stock.

Mueller Industries Price Performance

MLI stock opened at $80.90 on Wednesday. Mueller Industries, Inc. has a 1-year low of $47.46 and a 1-year high of $96.81. The company has a market capitalization of $9.20 billion, a price-to-earnings ratio of 15.23 and a beta of 0.98. The business has a 50 day simple moving average of $80.28 and a two-hundred day simple moving average of $77.20.

Mueller Industries (NYSE:MLI) last posted its earnings results on Tuesday, February 4th. The industrial products company reported $1.21 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%.

Wall Street Analyst Weigh In

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

Insider Activity

In other Mueller Industries news, Director Charles P. Herzog, Jr. sold 15,000 shares of the firm’s 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 completion of the sale, the director now owns 17,733 shares of the company’s stock, valued at approximately $1,632,145.32. This trade represents a 45.83 % 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 the SEC website. Insiders own 2.80% of the company’s stock.

About Mueller Industries

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.