Mueller Industries, Inc. (NYSE:MLI) Shares Sold by Blue Trust Inc.

Blue Trust Inc. lowered its stake in Mueller Industries, Inc. (NYSE:MLI) by 57.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,220 shares of the industrial products company’s stock after selling 2,958 shares during the period. Blue Trust Inc.’s holdings in Mueller Industries were worth $176,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Creative Planning boosted its stake in shares of Mueller Industries by 36.5% in the third quarter. Creative Planning now owns 40,081 shares of the industrial products company’s stock valued at $2,970,000 after buying an additional 10,714 shares in the last quarter. Raymond James & Associates raised its holdings in shares of Mueller Industries by 6.9% in the third quarter. Raymond James & Associates now owns 65,848 shares of the industrial products company’s stock worth $4,879,000 after acquiring an additional 4,226 shares during the last quarter. Sequoia Financial Advisors LLC raised its holdings in shares of Mueller Industries by 12.3% in the third quarter. Sequoia Financial Advisors LLC now owns 5,394 shares of the industrial products company’s stock worth $400,000 after acquiring an additional 592 shares during the last quarter. International Assets Investment Management LLC increased its stake in Mueller Industries by 3,760.7% in the third quarter. International Assets Investment Management LLC now owns 17,875 shares of the industrial products company’s stock valued at $1,325,000 after purchasing an additional 17,412 shares during the last quarter. Finally, Ausbil Investment Management Ltd increased its stake in Mueller Industries by 3.9% in the third quarter. Ausbil Investment Management Ltd now owns 53,257 shares of the industrial products company’s stock valued at $3,946,000 after purchasing an additional 1,989 shares during the last quarter. Institutional investors and hedge funds own 94.50% of the company’s stock.

Mueller Industries Price Performance

Shares of NYSE MLI opened at $80.58 on Friday. Mueller Industries, Inc. has a 1-year low of $47.46 and a 1-year high of $96.81. The business has a 50-day moving average of $80.39 and a 200-day moving average of $77.66. The company has a market capitalization of $9.17 billion, a price-to-earnings ratio of 15.18 and a beta of 0.98.

Mueller Industries (NYSE:MLI) last issued its earnings results 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 return on equity of 22.97% and a net margin of 16.05%.

Insider Activity at Mueller Industries

In other Mueller Industries news, Director Scott Jay Goldman sold 10,000 shares of the stock in a transaction that occurred on Thursday, February 13th. The stock was sold at an average price of $79.81, for a total transaction of $798,100.00. Following the transaction, the director now owns 56,098 shares of the company’s stock, valued at $4,477,181.38. This trade represents a 15.13 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 2.80% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

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.

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.