Four Tree Island Advisory LLC Purchases Shares of 244,157 Mueller Industries, Inc. (NYSE:MLI)

Four Tree Island Advisory LLC acquired a new stake in Mueller Industries, Inc. (NYSE:MLI) during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 244,157 shares of the industrial products company’s stock, valued at approximately $19,376,000. Mueller Industries comprises approximately 13.4% of Four Tree Island Advisory LLC’s investment portfolio, making the stock its largest position.

Several other large investors also recently modified their holdings of the stock. GAMMA Investing LLC grew its holdings in Mueller Industries by 36.0% in the 3rd quarter. GAMMA Investing LLC now owns 552 shares of the industrial products company’s stock valued at $41,000 after buying an additional 146 shares in the last quarter. Westside Investment Management Inc. bought a new stake in shares of Mueller Industries in the third quarter valued at about $41,000. Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of Mueller Industries in the fourth quarter valued at about $53,000. City State Bank bought a new position in Mueller Industries during the fourth quarter worth about $58,000. Finally, Harbor Capital Advisors Inc. acquired a new stake in Mueller Industries in the 3rd quarter worth about $64,000. 94.50% of the stock is owned by institutional investors.

Mueller Industries Stock Down 1.3 %

MLI stock opened at $80.30 on Monday. The company’s 50-day moving average price is $80.25 and its two-hundred day moving average price is $77.04. The firm has a market cap of $9.13 billion, a P/E ratio of 15.12 and a beta of 0.98. Mueller Industries, Inc. has a 12 month low of $47.46 and a 12 month high of $96.81.

Mueller Industries (NYSE:MLI) last announced its quarterly earnings data on Tuesday, February 4th. The industrial products company reported $1.21 earnings per share (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%.

Wall Street Analysts Forecast Growth

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 report on Wednesday, December 11th.

Insider Transactions at Mueller Industries

In related news, Director Charles P. Herzog, Jr. sold 15,000 shares of the firm’s stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $92.04, for a total value of $1,380,600.00. Following the sale, the director now directly owns 17,733 shares of the company’s stock, valued at $1,632,145.32. This trade represents a 45.83 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. 2.80% of the stock is owned by insiders.

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.