Mueller Industries, Inc. $MLI Shares Acquired by Versor Investments LP

Versor Investments LP increased its holdings in Mueller Industries, Inc. (NYSE:MLI) by 26.2% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 10,348 shares of the industrial products company’s stock after acquiring an additional 2,148 shares during the quarter. Versor Investments LP’s holdings in Mueller Industries were worth $822,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of the business. Invesco Ltd. lifted its stake in shares of Mueller Industries by 0.4% in the first quarter. Invesco Ltd. now owns 2,799,575 shares of the industrial products company’s stock worth $213,160,000 after acquiring an additional 10,968 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its stake in shares of Mueller Industries by 1.9% in the second quarter. Allspring Global Investments Holdings LLC now owns 2,252,838 shares of the industrial products company’s stock worth $184,890,000 after acquiring an additional 42,599 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec increased its holdings in Mueller Industries by 15.7% in the first quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,224,842 shares of the industrial products company’s stock valued at $93,259,000 after buying an additional 166,012 shares during the last quarter. Systematic Financial Management LP increased its holdings in Mueller Industries by 1.0% in the first quarter. Systematic Financial Management LP now owns 957,113 shares of the industrial products company’s stock valued at $72,875,000 after buying an additional 9,463 shares during the last quarter. Finally, Nuveen LLC bought a new stake in Mueller Industries in the first quarter valued at about $54,072,000. Institutional investors and hedge funds own 94.50% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reissued a “buy (b)” rating on shares of Mueller Industries in a report on Wednesday, October 8th. Two research analysts have rated the stock with a Buy rating, According to MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $105.00.

Insider Activity at Mueller Industries

In other news, CEO Gregory L. Christopher sold 158,000 shares of the company’s stock in a transaction that occurred on Thursday, October 23rd. The stock was sold at an average price of $104.32, for a total transaction of $16,482,560.00. Following the completion of the transaction, the chief executive officer directly owned 1,119,241 shares of the company’s stock, valued at approximately $116,759,221.12. This represents a 12.37% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director John B. Hansen sold 1,000 shares of the company’s stock in a transaction that occurred on Thursday, October 23rd. The shares were sold at an average price of $105.71, for a total value of $105,710.00. Following the transaction, the director directly owned 91,664 shares of the company’s stock, valued at $9,689,801.44. This trade represents a 1.08% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 352,000 shares of company stock valued at $36,576,640 over the last ninety days. Corporate insiders own 2.70% of the company’s stock.

Mueller Industries Stock Up 2.0%

Shares of Mueller Industries stock opened at $108.03 on Tuesday. The firm has a market cap of $11.99 billion, a P/E ratio of 16.12 and a beta of 1.02. Mueller Industries, Inc. has a fifty-two week low of $66.84 and a fifty-two week high of $108.12. The business has a 50-day moving average price of $99.89 and a 200 day moving average price of $87.60.

Mueller Industries (NYSE:MLI) last posted its earnings results on Tuesday, October 21st. The industrial products company reported $1.88 EPS for the quarter, missing the consensus estimate of $1.99 by ($0.11). The company had revenue of $1.08 billion for the quarter, compared to the consensus estimate of $942.00 million. Mueller Industries had a net margin of 18.10% and a return on equity of 25.02%. The firm’s revenue for the quarter was up 8.0% compared to the same quarter last year. During the same period last year, the company posted $1.48 earnings per share.

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.