F M Investments LLC Trims Stock Position in Mueller Industries, Inc. (NYSE:MLI)

F M Investments LLC decreased its position in Mueller Industries, Inc. (NYSE:MLI) by 0.8% in the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 251,479 shares of the industrial products company’s stock after selling 2,126 shares during the period. F M Investments LLC’s holdings in Mueller Industries were worth $18,635,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of MLI. Vanguard Group Inc. lifted its holdings in shares of Mueller Industries by 0.5% in the 1st quarter. Vanguard Group Inc. now owns 12,359,057 shares of the industrial products company’s stock worth $666,524,000 after buying an additional 59,060 shares during the period. LSV Asset Management lifted its stake in Mueller Industries by 44.1% in the second quarter. LSV Asset Management now owns 2,094,682 shares of the industrial products company’s stock worth $119,271,000 after acquiring an additional 641,114 shares during the period. Bank of New York Mellon Corp increased its position in Mueller Industries by 0.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,176,468 shares of the industrial products company’s stock valued at $66,988,000 after purchasing an additional 7,756 shares during the period. Vest Financial LLC raised 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 valued at $23,597,000 after purchasing an additional 63,828 shares in the last quarter. Finally, New York State Common Retirement Fund boosted its stake in shares of Mueller Industries by 20.4% during the third quarter. New York State Common Retirement Fund now owns 405,618 shares of the industrial products company’s stock valued at $30,056,000 after purchasing an additional 68,633 shares in the last quarter. Institutional investors own 94.50% of the company’s stock.

Insiders Place Their Bets

In related news, Director John B. Hansen sold 1,000 shares of the stock in a transaction that occurred 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 transaction, the director now directly owns 94,914 shares of the company’s stock, valued at $7,886,404.26. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, Director John B. Hansen sold 1,000 shares of the company’s 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 sale, the director now directly owns 94,914 shares of the company’s stock, valued at $7,886,404.26. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director John B. Hansen sold 8,000 shares of the company’s stock in a transaction on Friday, August 9th. The shares were sold at an average price of $67.24, for a total transaction of $537,920.00. Following the completion of the sale, the director now directly owns 95,914 shares in the company, valued at approximately $6,449,257.36. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 104,000 shares of company stock valued at $7,164,860. 2.80% of the stock is currently owned by insiders.

Mueller Industries Stock Down 0.6 %

Shares of NYSE MLI traded down $0.51 during mid-day trading on Friday, reaching $81.46. 930,182 shares of the company were exchanged, compared to its average volume of 717,143. The firm has a 50-day moving average of $73.09 and a 200 day moving average of $64.64. Mueller Industries, Inc. has a 1 year low of $37.54 and a 1 year high of $84.11. The stock has a market cap of $9.27 billion, a price-to-earnings ratio of 15.82 and a beta of 1.03.

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

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.