LSV Asset Management Sells 43,688 Shares of Mueller Industries, Inc. $MLI

LSV Asset Management decreased its position in shares of Mueller Industries, Inc. (NYSE:MLI) by 2.3% during the third quarter, according to its most recent filing with the SEC. The firm owned 1,889,730 shares of the industrial products company’s stock after selling 43,688 shares during the period. LSV Asset Management owned about 1.70% of Mueller Industries worth $191,071,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in MLI. NewEdge Advisors LLC grew its stake in Mueller Industries by 10.7% in the first quarter. NewEdge Advisors LLC now owns 14,722 shares of the industrial products company’s stock worth $1,121,000 after purchasing an additional 1,420 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in Mueller Industries by 1.5% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 230,671 shares of the industrial products company’s stock valued at $17,563,000 after buying an additional 3,316 shares during the period. Acadian Asset Management LLC bought a new stake in shares of Mueller Industries during the 1st quarter valued at $524,000. US Bancorp DE grew its position in shares of Mueller Industries by 23.3% in the 2nd quarter. US Bancorp DE now owns 23,251 shares of the industrial products company’s stock worth $1,848,000 after buying an additional 4,391 shares during the period. Finally, Vanguard Personalized Indexing Management LLC increased its stake in shares of Mueller Industries by 9.1% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 14,650 shares of the industrial products company’s stock worth $1,164,000 after acquiring an additional 1,223 shares in the last quarter. Hedge funds and other institutional investors own 94.50% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the stock. Weiss Ratings reissued a “buy (b)” rating on shares of Mueller Industries in a research note on Thursday, January 22nd. Wall Street Zen cut Mueller Industries from a “buy” rating to a “hold” rating in a research report on Saturday, February 7th. One research analyst has rated the stock with a Buy rating, Based on data from MarketBeat, Mueller Industries currently has a consensus rating of “Buy”.

Insider Buying and Selling at Mueller Industries

In other Mueller Industries news, Director John B. Hansen sold 1,000 shares of the business’s stock in a transaction dated Monday, February 9th. The stock was sold at an average price of $116.71, for a total value of $116,710.00. Following the completion of the transaction, the director owned 90,664 shares of the company’s stock, valued at approximately $10,581,395.44. The trade was a 1.09% 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 Scott Jay Goldman sold 4,234 shares of the company’s stock in a transaction dated Tuesday, November 25th. The shares were sold at an average price of $108.64, for a total transaction of $459,981.76. Following the transaction, the director owned 41,745 shares in the company, valued at $4,535,176.80. This represents a 9.21% decrease in their position. The disclosure for this sale is available in the SEC filing. 2.70% of the stock is owned by insiders.

Mueller Industries Stock Up 1.0%

NYSE:MLI opened at $120.44 on Thursday. The stock has a market cap of $13.37 billion, a price-to-earnings ratio of 17.53 and a beta of 1.03. The company’s 50 day moving average price is $121.63 and its 200-day moving average price is $107.26. Mueller Industries, Inc. has a 52 week low of $66.84 and a 52 week high of $139.29.

About Mueller Industries

Mueller Industries, Inc is a diversified manufacturer and marketer of copper, brass, aluminum and plastic products. Headquartered in Memphis, Tennessee, the company serves a wide range of markets including HVAC (heating, ventilation and air conditioning), refrigeration, plumbing, industrial gas, automotive and agricultural sectors. Its product portfolio encompasses copper and plastic tubing, brass fittings, valves and related components designed for fluid handling and temperature control applications.

The company operates through multiple business segments, including the Plumbing & Refrigeration segment, which supplies copper and plastic tubing, fittings and valves for residential and commercial construction markets; the Industrial Metals & Mining segment, which provides aluminum shapes and specialty brass products for industrial applications; and the Climate segment, which focuses on copper tubing and components for air conditioning and refrigeration systems.