LSV Asset Management Sells 43,688 Shares of Mueller Industries, Inc. $MLI

LSV Asset Management reduced its holdings in shares of Mueller Industries, Inc. (NYSE:MLI) by 2.3% in the third quarter, Holdings Channel reports. The institutional investor owned 1,889,730 shares of the industrial products company’s stock after selling 43,688 shares during the period. LSV Asset Management’s holdings in Mueller Industries were worth $191,071,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently modified their holdings of the business. Norges Bank purchased a new position in Mueller Industries during the second quarter valued at approximately $127,287,000. Qube Research & Technologies Ltd bought a new position in Mueller Industries in the 2nd quarter worth $75,901,000. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in Mueller Industries in the 2nd quarter worth $54,751,000. Vaughan Nelson Investment Management L.P. bought a new stake in Mueller Industries during the third quarter valued at about $51,789,000. Finally, Cubist Systematic Strategies LLC purchased a new position in Mueller Industries in the 2nd quarter worth approximately $36,974,000. Institutional investors own 94.50% of the company’s stock.

Insider Buying and Selling at Mueller Industries

In other news, Director John B. Hansen sold 1,000 shares of the company’s stock in a transaction on Monday, February 9th. The stock was sold at an average price of $116.71, for a total transaction of $116,710.00. Following the transaction, the director directly owned 90,664 shares of the company’s stock, valued at approximately $10,581,395.44. This represents a 1.09% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Scott Jay Goldman sold 4,234 shares of the stock in a transaction on Tuesday, November 25th. The shares were sold at an average price of $108.64, for a total value of $459,981.76. Following the sale, the director owned 41,745 shares of the company’s stock, valued at approximately $4,535,176.80. This represents a 9.21% decrease in their position. The disclosure for this sale is available in the SEC filing. 2.70% of the stock is currently owned by insiders.

Mueller Industries Trading Up 1.0%

Shares of NYSE:MLI opened at $120.44 on Thursday. The company has a market capitalization of $13.37 billion, a PE ratio of 17.53 and a beta of 1.03. The business’s fifty day simple moving average is $121.63 and its 200-day simple moving average is $107.26. Mueller Industries, Inc. has a 12-month low of $66.84 and a 12-month high of $139.29.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on MLI. Weiss Ratings restated a “buy (b)” rating on shares of Mueller Industries in a research report on Thursday, January 22nd. Wall Street Zen lowered Mueller Industries from a “buy” rating to a “hold” rating in a research note on Saturday, February 7th. One research analyst has rated the stock with a Buy rating, According to MarketBeat, Mueller Industries has an average rating of “Buy”.

About Mueller Industries

Mueller Industries, Inc is a diversified manufacturer and marketer of copper, brass, aluminum and plastic products. Headquartered in Memphis, Tennessee, the company serves a wide range of markets including HVAC (heating, ventilation and air conditioning), refrigeration, plumbing, industrial gas, automotive and agricultural sectors. Its product portfolio encompasses copper and plastic tubing, brass fittings, valves and related components designed for fluid handling and temperature control applications.

The company operates through multiple business segments, including the Plumbing & Refrigeration segment, which supplies copper and plastic tubing, fittings and valves for residential and commercial construction markets; the Industrial Metals & Mining segment, which provides aluminum shapes and specialty brass products for industrial applications; and the Climate segment, which focuses on copper tubing and components for air conditioning and refrigeration systems.