Monument Capital Management Buys 332 Shares of Mueller Industries, Inc. (NYSE:MLI)

Monument Capital Management increased its position in shares of Mueller Industries, Inc. (NYSE:MLI) by 7.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,692 shares of the industrial products company’s stock after buying an additional 332 shares during the quarter. Monument Capital Management’s holdings in Mueller Industries were worth $372,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of MLI. Creative Planning raised its position in Mueller Industries by 36.5% in the 3rd quarter. Creative Planning now owns 40,081 shares of the industrial products company’s stock valued at $2,970,000 after purchasing an additional 10,714 shares during the last quarter. Stratos Wealth Partners LTD. increased its holdings in Mueller Industries by 19.3% in the third quarter. Stratos Wealth Partners LTD. now owns 75,434 shares of the industrial products company’s stock valued at $5,590,000 after purchasing an additional 12,187 shares during the last quarter. Blue Trust Inc. raised its position in shares of Mueller Industries by 36.3% in the 3rd quarter. Blue Trust Inc. now owns 5,178 shares of the industrial products company’s stock valued at $384,000 after acquiring an additional 1,378 shares during the period. Raymond James & Associates boosted its position in shares of Mueller Industries by 6.9% during the third quarter. Raymond James & Associates now owns 65,848 shares of the industrial products company’s stock worth $4,879,000 after purchasing an additional 4,226 shares in the last quarter. Finally, Retirement Guys Formula LLC bought a new stake in shares of Mueller Industries in the 3rd quarter valued at $200,000. Institutional investors and hedge funds own 94.50% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Northcoast Research upgraded shares of Mueller Industries from a “neutral” rating to a “buy” rating and set a $105.00 price objective on the stock in a report on Wednesday, December 11th.

Insider Buying and Selling

In other Mueller Industries news, Director Scott Jay Goldman sold 10,000 shares of the company’s stock in a transaction that occurred on Thursday, February 13th. The shares were sold at an average price of $79.81, for a total value of $798,100.00. Following the completion of the transaction, the director now directly owns 56,098 shares in the company, valued at approximately $4,477,181.38. This represents a 15.13 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Charles P. Herzog, Jr. sold 15,000 shares of the stock in a transaction that occurred on 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 sale, the director now directly 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 disclosure for this sale can be found here. 2.80% of the stock is owned by corporate insiders.

Mueller Industries Stock Performance

Shares of NYSE:MLI opened at $81.23 on Monday. Mueller Industries, Inc. has a 52-week low of $47.46 and a 52-week high of $96.81. The company has a 50-day simple moving average of $80.38 and a 200 day simple moving average of $77.42. The company has a market capitalization of $9.24 billion, a P/E ratio of 15.30 and a beta of 0.98.

Mueller Industries (NYSE:MLI) last issued its quarterly earnings data on Tuesday, February 4th. The industrial products company reported $1.21 EPS for the quarter, beating analysts’ consensus estimates of $1.12 by $0.09. Mueller Industries had a return on equity of 22.97% and a net margin of 16.05%.

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.