Choreo LLC Sells 3,221 Shares of Mueller Industries, Inc. (NYSE:MLI)

Choreo LLC cut its holdings in Mueller Industries, Inc. (NYSE:MLI) by 36.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 5,548 shares of the industrial products company’s stock after selling 3,221 shares during the quarter. Choreo LLC’s holdings in Mueller Industries were worth $443,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. GAMMA Investing LLC lifted its stake in shares of Mueller Industries by 36.0% during the third quarter. GAMMA Investing LLC now owns 552 shares of the industrial products company’s stock valued at $41,000 after acquiring an additional 146 shares during the period. Westside Investment Management Inc. bought a new stake in Mueller Industries during the 3rd quarter worth about $41,000. Mirae Asset Global Investments Co. Ltd. acquired a new position in Mueller Industries during the 4th quarter valued at about $53,000. City State Bank bought a new position in shares of Mueller Industries in the 4th quarter valued at about $58,000. Finally, Harbor Capital Advisors Inc. bought a new position in shares of Mueller Industries in the 3rd quarter valued at about $64,000. Institutional investors and hedge funds own 94.50% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Northcoast Research raised shares of 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 Stock Down 1.7 %

MLI stock opened at $79.42 on Thursday. Mueller Industries, Inc. has a twelve month low of $47.46 and a twelve month high of $96.81. The company has a market cap of $9.03 billion, a P/E ratio of 14.96 and a beta of 0.98. The business’s fifty day moving average is $80.30 and its 200-day moving average is $77.21.

Mueller Industries (NYSE:MLI) last released its earnings results on Tuesday, February 4th. The industrial products company reported $1.21 earnings per share for the quarter, beating 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 Charles P. Herzog, Jr. sold 15,000 shares of Mueller Industries stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $92.04, for a total transaction of $1,380,600.00. Following the transaction, the director now directly owns 17,733 shares in the company, valued at approximately $1,632,145.32. The trade was a 45.83 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate 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.