Advisors Management Group Inc. ADV Grows Position in Mueller Industries, Inc. (NYSE:MLI)

Advisors Management Group Inc. ADV boosted its stake in Mueller Industries, Inc. (NYSE:MLI) by 12.5% in the third quarter, Holdings Channel.com reports. The firm owned 24,042 shares of the industrial products company’s stock after acquiring an additional 2,676 shares during the quarter. Advisors Management Group Inc. ADV’s holdings in Mueller Industries were worth $1,782,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. GAMMA Investing LLC lifted its position in shares of Mueller Industries by 36.0% during the third quarter. GAMMA Investing LLC now owns 552 shares of the industrial products company’s stock worth $41,000 after purchasing an additional 146 shares in the last quarter. Miller Howard Investments Inc. NY lifted its position in shares of Mueller Industries by 2.1% during the second quarter. Miller Howard Investments Inc. NY now owns 7,188 shares of the industrial products company’s stock worth $409,000 after purchasing an additional 151 shares in the last quarter. Kapitalo Investimentos Ltda lifted its position in shares of Mueller Industries by 3.5% during the third quarter. Kapitalo Investimentos Ltda now owns 4,582 shares of the industrial products company’s stock worth $340,000 after purchasing an additional 156 shares in the last quarter. Summit Global Investments lifted its position in shares of Mueller Industries by 1.6% during the second quarter. Summit Global Investments now owns 12,844 shares of the industrial products company’s stock worth $731,000 after purchasing an additional 204 shares in the last quarter. Finally, Hsbc Holdings PLC lifted its position in shares of Mueller Industries by 1.8% during the second quarter. Hsbc Holdings PLC now owns 13,188 shares of the industrial products company’s stock worth $757,000 after purchasing an additional 233 shares in the last quarter. 94.50% of the stock is currently owned by hedge funds and other institutional investors.

Mueller Industries Trading Up 12.2 %

NYSE MLI opened at $95.07 on Thursday. The company’s fifty day simple moving average is $74.13 and its 200-day simple moving average is $65.47. Mueller Industries, Inc. has a 52 week low of $37.54 and a 52 week high of $95.84. The stock has a market cap of $10.81 billion, a P/E ratio of 18.46 and a beta of 1.01.

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

Insider Activity at Mueller Industries

In related news, 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 value of $537,920.00. Following the sale, the director now directly owns 95,914 shares of the company’s stock, valued at $6,449,257.36. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other Mueller Industries news, CEO Gregory L. Christopher sold 45,000 shares of the business’s stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $67.73, for a total transaction of $3,047,850.00. Following the completion of the sale, the chief executive officer now owns 1,264,311 shares in the company, valued at $85,631,784.03. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director John B. Hansen sold 8,000 shares of the business’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 sale, the director now owns 95,914 shares of the company’s stock, valued at approximately $6,449,257.36. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 104,000 shares of company stock valued at $7,164,860 over the last ninety days. Corporate insiders own 2.80% of the company’s stock.

Mueller Industries 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.