Van ECK Associates Corp Purchases 20,386 Shares of Mueller Industries, Inc. (NYSE:MLI)

Van ECK Associates Corp boosted its position in Mueller Industries, Inc. (NYSE:MLI) by 28.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 93,090 shares of the industrial products company’s stock after acquiring an additional 20,386 shares during the period. Van ECK Associates Corp owned 0.08% of Mueller Industries worth $7,388,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the company. Four Tree Island Advisory LLC bought a new position in Mueller Industries in the fourth quarter valued at about $19,376,000. Legacy Financial Strategies LLC bought a new position in Mueller Industries during the fourth quarter worth about $272,000. Entropy Technologies LP bought a new position in Mueller Industries during the fourth quarter worth about $532,000. Kingsview Wealth Management LLC bought a new position in Mueller Industries during the fourth quarter worth about $2,254,000. Finally, Vest Financial LLC boosted its holdings in Mueller Industries by 12.0% during the fourth quarter. Vest Financial LLC now owns 431,226 shares of the industrial products company’s stock worth $34,222,000 after buying an additional 46,103 shares during the last quarter. Institutional investors own 94.50% of the company’s stock.

Insider Transactions at Mueller Industries

In related news, Director Scott Jay Goldman sold 10,000 shares of Mueller Industries stock in a transaction that occurred on Thursday, February 13th. The stock was sold at an average price of $79.81, for a total value of $798,100.00. Following the sale, the director now owns 56,098 shares of the company’s stock, valued at approximately $4,477,181.38. This trade represents a 15.13 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Charles P. Herzog, Jr. sold 15,000 shares of Mueller Industries stock in a transaction that occurred on 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 completion of the sale, the director now directly owns 17,733 shares in the company, valued at approximately $1,632,145.32. This represents a 45.83 % decrease in their position. The disclosure for this sale can be found here. 2.80% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

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

Mueller Industries Trading Up 0.8 %

Shares of MLI opened at $81.23 on Tuesday. Mueller Industries, Inc. has a 1 year low of $47.46 and a 1 year high of $96.81. The stock has a market cap of $9.24 billion, a P/E ratio of 15.30 and a beta of 0.98. The stock’s 50-day moving average price is $80.44 and its two-hundred day moving average price is $77.51.

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

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.