Mueller Industries, Inc. (NYSE:MLI) Stake Increased by International Assets Investment Management LLC

International Assets Investment Management LLC boosted its stake in shares of Mueller Industries, Inc. (NYSE:MLI) by 3,760.7% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 17,875 shares of the industrial products company’s stock after purchasing an additional 17,412 shares during the quarter. International Assets Investment Management LLC’s holdings in Mueller Industries were worth $1,325,000 at the end of the most recent reporting period.

A number of other institutional investors also recently added to or reduced their stakes in the business. Narwhal Capital Management increased its holdings in shares of Mueller Industries by 114.2% in the third quarter. Narwhal Capital Management now owns 29,836 shares of the industrial products company’s stock valued at $2,211,000 after buying an additional 15,904 shares in the last quarter. Sequoia Financial Advisors LLC raised its stake in shares of Mueller Industries by 12.3% in the 3rd quarter. Sequoia Financial Advisors LLC now owns 5,394 shares of the industrial products company’s stock valued at $400,000 after acquiring an additional 592 shares in the last quarter. Retirement Guys Formula LLC acquired a new stake in shares of Mueller Industries in the third quarter valued at about $200,000. Raymond James & Associates grew its stake 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. Finally, Blue Trust Inc. grew its position in Mueller Industries by 36.3% during the third quarter. Blue Trust Inc. now owns 5,178 shares of the industrial products company’s stock worth $384,000 after buying an additional 1,378 shares in the last quarter. Institutional investors and hedge funds own 94.50% of the company’s stock.

Insider Activity

In other 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 transaction of $3,047,850.00. Following the transaction, the chief executive officer now owns 1,264,311 shares in the company, valued at $85,631,784.03. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, CEO Gregory L. Christopher sold 45,000 shares of the stock in a transaction that occurred 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 represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director John B. Hansen sold 1,000 shares of the stock in a transaction on Wednesday, October 30th. The shares were sold at an average price of $83.09, for a total transaction of $83,090.00. Following the completion of the sale, the director now owns 94,914 shares of the company’s stock, valued at approximately $7,886,404.26. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 104,000 shares of company stock valued at $7,164,860 in the last ninety days. 2.80% of the stock is owned by insiders.

Mueller Industries Price Performance

MLI opened at $83.00 on Tuesday. The company has a market capitalization of $9.44 billion, a P/E ratio of 16.12 and a beta of 1.01. The firm’s fifty day moving average price is $73.09 and its two-hundred day moving average price is $64.81. Mueller Industries, Inc. has a fifty-two week low of $37.54 and a fifty-two week high of $84.11.

Mueller Industries (NYSE:MLI) last issued its quarterly earnings data 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 for the quarter, compared to analyst estimates of $936.00 million. The business’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.