Mueller Industries, Inc. (NYSE:MLI) Stock Position Lessened by Congress Asset Management Co.

Congress Asset Management Co. reduced its stake in shares of Mueller Industries, Inc. (NYSE:MLI) by 2.1% during the third quarter, Holdings Channel.com reports. The firm owned 190,186 shares of the industrial products company’s stock after selling 4,064 shares during the period. Congress Asset Management Co.’s holdings in Mueller Industries were worth $14,093,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also bought and sold shares of MLI. LSV Asset Management raised its holdings in Mueller Industries by 44.1% during the second quarter. LSV Asset Management now owns 2,094,682 shares of the industrial products company’s stock worth $119,271,000 after purchasing an additional 641,114 shares in the last quarter. F M Investments LLC acquired a new stake in shares of Mueller Industries in the second quarter valued at $14,441,000. Massachusetts Financial Services Co. MA boosted its stake in Mueller Industries by 1,124.4% during the second quarter. Massachusetts Financial Services Co. MA now owns 98,920 shares of the industrial products company’s stock valued at $5,633,000 after buying an additional 90,841 shares in the last quarter. Bank of Montreal Can raised its position in Mueller Industries by 163.6% in the second quarter. Bank of Montreal Can now owns 118,527 shares of the industrial products company’s stock worth $6,790,000 after acquiring an additional 73,567 shares in the last quarter. Finally, Vest Financial LLC grew its holdings in shares of Mueller Industries by 18.2% in the 2nd quarter. Vest Financial LLC now owns 414,417 shares of the industrial products company’s stock worth $23,597,000 after acquiring an additional 63,828 shares during the last quarter. Institutional investors and hedge funds own 94.50% of the company’s stock.

Insiders Place Their Bets

In related news, Director John B. Hansen sold 1,000 shares of Mueller Industries stock in a transaction on Wednesday, October 30th. The shares were sold at an average price of $83.09, for a total value 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. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Mueller Industries news, Director John B. Hansen sold 1,000 shares of the stock in a transaction that occurred on Wednesday, October 30th. The stock was sold at an average price of $83.09, for a total transaction of $83,090.00. Following the transaction, the director now owns 94,914 shares in the company, valued at $7,886,404.26. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director John B. Hansen sold 8,000 shares of the business’s stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $67.24, for a total value of $537,920.00. Following the transaction, the director now directly owns 95,914 shares of the company’s stock, valued at $6,449,257.36. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 104,000 shares of company stock valued at $7,164,860 over the last ninety days. Corporate insiders own 2.80% of the company’s stock.

Mueller Industries Trading Down 1.2 %

Shares of MLI opened at $81.97 on Friday. Mueller Industries, Inc. has a 1-year low of $37.09 and a 1-year high of $84.11. The stock has a market capitalization of $9.32 billion, a P/E ratio of 15.92 and a beta of 1.03. The business’s 50-day moving average price is $72.62 and its 200 day moving average price is $64.31.

Mueller Industries (NYSE:MLI) last issued its earnings results on Tuesday, October 22nd. The industrial products company reported $1.48 EPS for the quarter, beating analysts’ consensus estimates of $1.32 by $0.16. The firm had revenue of $997.80 million for the quarter, compared to the consensus estimate of $936.00 million. Mueller Industries had a return on equity of 23.25% and a net margin of 16.39%. The business’s revenue for the quarter was up 21.7% compared to the same quarter last year.

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.