State of Alaska Department of Revenue Sells 31,717 Shares of Mueller Industries, Inc. (NYSE:MLI)

State of Alaska Department of Revenue lowered its position in shares of Mueller Industries, Inc. (NYSE:MLI) by 49.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 32,970 shares of the industrial products company’s stock after selling 31,717 shares during the quarter. State of Alaska Department of Revenue’s holdings in Mueller Industries were worth $2,616,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. GAMMA Investing LLC lifted its position in Mueller Industries by 36.0% during the third 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 during the period. Kapitalo Investimentos Ltda lifted its position in Mueller Industries by 3.5% during the third quarter. Kapitalo Investimentos Ltda now owns 4,582 shares of the industrial products company’s stock valued at $340,000 after buying an additional 156 shares during the period. GM Advisory Group LLC lifted its position in Mueller Industries by 5.3% during the third quarter. GM Advisory Group LLC now owns 3,792 shares of the industrial products company’s stock valued at $281,000 after buying an additional 192 shares during the period. Caprock Group LLC lifted its position in Mueller Industries by 2.3% during the fourth quarter. Caprock Group LLC now owns 8,495 shares of the industrial products company’s stock valued at $674,000 after buying an additional 194 shares during the period. Finally, Atria Investments Inc raised its position in shares of Mueller Industries by 2.5% in the 3rd quarter. Atria Investments Inc now owns 12,396 shares of the industrial products company’s stock worth $919,000 after purchasing an additional 302 shares during the last quarter. Hedge funds and other institutional investors own 94.50% of the company’s stock.

Insider Buying and Selling at Mueller Industries

In other news, Director Charles P. Herzog, Jr. sold 15,000 shares of the company’s stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $92.04, for a total transaction of $1,380,600.00. Following the completion of the sale, the director now owns 17,733 shares of the company’s stock, valued at $1,632,145.32. This represents a 45.83 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 2.80% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Mueller Industries Price Performance

MLI opened at $80.39 on Tuesday. Mueller Industries, Inc. has a 1 year low of $47.46 and a 1 year high of $96.81. The stock has a 50-day moving average price of $80.24 and a 200-day moving average price of $77.12. The firm has a market cap of $9.14 billion, a PE ratio of 15.14 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 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.12 by $0.09. Mueller Industries had a net margin of 16.05% and a return on equity of 22.97%.

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.