Kingsview Wealth Management LLC Makes New Investment in Mueller Industries, Inc. (NYSE:MLI)

Kingsview Wealth Management LLC purchased a new stake in Mueller Industries, Inc. (NYSE:MLI) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 28,404 shares of the industrial products company’s stock, valued at approximately $2,254,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Vest Financial LLC increased its stake in shares of Mueller Industries by 12.0% in the fourth quarter. Vest Financial LLC now owns 431,226 shares of the industrial products company’s stock worth $34,222,000 after purchasing an additional 46,103 shares during the period. Caitlin John LLC increased its position in Mueller Industries by 4.1% in the 4th quarter. Caitlin John LLC now owns 20,753 shares of the industrial products company’s stock worth $1,647,000 after buying an additional 820 shares during the period. Meritage Portfolio Management lifted its holdings in shares of Mueller Industries by 7.4% during the fourth quarter. Meritage Portfolio Management now owns 23,169 shares of the industrial products company’s stock worth $1,839,000 after buying an additional 1,590 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of Mueller Industries in the fourth quarter valued at approximately $53,000. Finally, Stratos Wealth Partners LTD. grew its stake in shares of Mueller Industries by 2.6% in the fourth quarter. Stratos Wealth Partners LTD. now owns 77,397 shares of the industrial products company’s stock worth $6,142,000 after acquiring an additional 1,963 shares during the last quarter. 94.50% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director Charles P. Herzog, Jr. sold 15,000 shares of the stock in a transaction dated 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 transaction, the director now owns 17,733 shares of the company’s stock, valued at $1,632,145.32. This represents a 45.83 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 2.80% of the stock is owned by company insiders.

Mueller Industries Stock Performance

NYSE MLI opened at $80.39 on Tuesday. Mueller Industries, Inc. has a twelve month low of $47.46 and a twelve month high of $96.81. The stock has a market cap of $9.14 billion, a PE ratio of 15.14 and a beta of 0.98. The firm has a 50-day simple moving average of $80.24 and a 200 day simple moving average of $77.12.

Mueller Industries (NYSE:MLI) last announced its quarterly earnings data 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%.

Wall Street Analyst Weigh In

Separately, Northcoast Research upgraded shares of Mueller Industries from a “neutral” rating to a “buy” rating and set a $105.00 target price for the company in a research note on Wednesday, December 11th.

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.