Mueller Industries, Inc. (NYSE:MLI) Shares Purchased by Congress Asset Management Co.

Congress Asset Management Co. increased its position in shares of Mueller Industries, Inc. (NYSE:MLI) by 6.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 202,636 shares of the industrial products company’s stock after acquiring an additional 12,450 shares during the quarter. Congress Asset Management Co.’s holdings in Mueller Industries were worth $16,081,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Westside Investment Management Inc. acquired a new position in shares of Mueller Industries during the 3rd quarter valued at about $41,000. Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of Mueller Industries during the 4th quarter valued at about $53,000. City State Bank acquired a new position in shares of Mueller Industries during the 4th quarter valued at about $58,000. Harbor Capital Advisors Inc. acquired a new position in shares of Mueller Industries during the 3rd quarter valued at about $64,000. Finally, GAMMA Investing LLC boosted its position in shares of Mueller Industries by 46.7% during the 4th quarter. GAMMA Investing LLC now owns 810 shares of the industrial products company’s stock valued at $64,000 after acquiring an additional 258 shares during the last quarter. Institutional investors and hedge funds own 94.50% of the company’s stock.

Wall Street Analyst Weigh In

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

Insider Buying and Selling at Mueller Industries

In other news, Director Scott Jay Goldman sold 10,000 shares of the stock in a transaction dated Thursday, February 13th. The shares were sold at an average price of $79.81, for a total transaction of $798,100.00. Following the sale, the director now owns 56,098 shares of the company’s stock, valued at approximately $4,477,181.38. This represents a 15.13 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Charles P. Herzog, Jr. sold 15,000 shares of the stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $92.04, for a total transaction of $1,380,600.00. Following the sale, the director now directly owns 17,733 shares in the company, valued at $1,632,145.32. This represents a 45.83 % decrease in their position. The disclosure for this sale can be found here. 2.80% of the stock is currently owned by corporate insiders.

Mueller Industries Price Performance

NYSE MLI opened at $81.23 on Monday. The firm’s 50-day moving average is $80.38 and its two-hundred day moving average is $77.42. Mueller Industries, Inc. has a 12 month low of $47.46 and a 12 month high of $96.81. The stock has a market capitalization of $9.24 billion, a P/E ratio of 15.30 and a beta of 0.98.

Mueller Industries (NYSE:MLI) last posted its earnings results on Tuesday, February 4th. The industrial products company reported $1.21 EPS for the quarter, beating analysts’ consensus estimates of $1.12 by $0.09. Mueller Industries had a net margin of 16.05% and a return on equity of 22.97%.

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.