Warren Street Wealth Advisors LLC Invests $208,000 in Mueller Industries, Inc. (NYSE:MLI)

Warren Street Wealth Advisors LLC purchased a new stake in shares of Mueller Industries, Inc. (NYSE:MLI) in the fourth quarter, according to its most recent disclosure with the SEC. The firm purchased 2,620 shares of the industrial products company’s stock, valued at approximately $208,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in MLI. State Street Corp grew its stake in shares of Mueller Industries by 3.2% during the third quarter. State Street Corp now owns 4,451,143 shares of the industrial products company’s stock valued at $329,830,000 after acquiring an additional 139,406 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in Mueller Industries by 27.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,469,736 shares of the industrial products company’s stock valued at $108,907,000 after purchasing an additional 315,490 shares in the last quarter. FMR LLC increased its holdings in Mueller Industries by 2.6% during the 3rd quarter. FMR LLC now owns 1,066,658 shares of the industrial products company’s stock worth $79,039,000 after purchasing an additional 27,399 shares during the last quarter. Systematic Financial Management LP raised its position in shares of Mueller Industries by 1.6% in the 3rd quarter. Systematic Financial Management LP now owns 939,342 shares of the industrial products company’s stock valued at $69,605,000 after purchasing an additional 14,729 shares in the last quarter. Finally, Fiera Capital Corp purchased a new position in shares of Mueller Industries during the 3rd quarter valued at approximately $35,552,000. Hedge funds and other institutional investors own 94.50% of the company’s stock.

Insiders Place Their Bets

In related news, Director Charles P. Herzog, Jr. sold 15,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $92.04, for a total value of $1,380,600.00. Following the sale, the director now owns 17,733 shares of the company’s stock, valued at approximately $1,632,145.32. This trade represents a 45.83 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 2.80% of the stock is owned by corporate insiders.

Mueller Industries Stock Performance

NYSE:MLI opened at $79.42 on Thursday. The company has a market capitalization of $9.03 billion, a price-to-earnings ratio of 14.96 and a beta of 0.98. Mueller Industries, Inc. has a one year low of $47.46 and a one year high of $96.81. The stock has a 50-day simple moving average of $80.30 and a 200 day simple moving average of $77.21.

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

Analyst Ratings Changes

Separately, Northcoast Research raised shares of 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.