Measured Wealth Private Client Group LLC Trims Position in Mueller Industries, Inc. (NYSE:MLI)

Measured Wealth Private Client Group LLC trimmed its stake in Mueller Industries, Inc. (NYSE:MLI) by 8.0% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 9,002 shares of the industrial products company’s stock after selling 786 shares during the period. Measured Wealth Private Client Group LLC’s holdings in Mueller Industries were worth $714,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also added to or reduced their stakes in the stock. GAMMA Investing LLC grew its holdings in Mueller Industries by 36.0% during the 3rd quarter. GAMMA Investing LLC now owns 552 shares of the industrial products company’s stock worth $41,000 after acquiring an additional 146 shares in the last quarter. Westside Investment Management Inc. bought a new position in shares of Mueller Industries during the third quarter valued at approximately $41,000. Mirae Asset Global Investments Co. Ltd. purchased a new position in Mueller Industries during the fourth quarter valued at approximately $53,000. City State Bank bought a new position in Mueller Industries in the fourth quarter worth approximately $58,000. Finally, Harbor Capital Advisors Inc. bought a new position in Mueller Industries in the third quarter worth approximately $64,000. 94.50% of the stock is currently owned by institutional investors.

Mueller Industries Stock Performance

MLI stock opened at $81.33 on Friday. The firm has a market cap of $9.25 billion, a price-to-earnings ratio of 15.79 and a beta of 0.98. The firm has a 50-day simple moving average of $80.26 and a two-hundred day simple moving average of $76.78. Mueller Industries, Inc. has a one year low of $47.46 and a one year high of $96.81.

Mueller Industries (NYSE:MLI) last posted its quarterly earnings data on Tuesday, February 4th. The industrial products company reported $1.21 EPS for the quarter, topping the consensus estimate of $1.12 by $0.09. Mueller Industries had a net margin of 16.39% and a return on equity of 23.25%.

Insider Transactions at Mueller Industries

In related news, 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 $1,632,145.32. This trade represents a 45.83 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 2.80% of the company’s stock.

Wall Street Analysts Forecast Growth

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