Versor Investments LP Increases Stock Holdings in Mueller Industries, Inc. $MLI

Versor Investments LP boosted its position in Mueller Industries, Inc. (NYSE:MLI) by 26.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 10,348 shares of the industrial products company’s stock after acquiring an additional 2,148 shares during the quarter. Versor Investments LP’s holdings in Mueller Industries were worth $822,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in MLI. Brooklyn Investment Group boosted its holdings in Mueller Industries by 267.3% in the first quarter. Brooklyn Investment Group now owns 382 shares of the industrial products company’s stock valued at $29,000 after acquiring an additional 278 shares during the last quarter. Rise Advisors LLC acquired a new position in Mueller Industries in the first quarter valued at $30,000. Wayfinding Financial LLC acquired a new position in Mueller Industries in the first quarter valued at $34,000. Maseco LLP acquired a new position in Mueller Industries in the second quarter valued at $40,000. Finally, Migdal Insurance & Financial Holdings Ltd. acquired a new position in Mueller Industries in the first quarter valued at $76,000. Institutional investors and hedge funds own 94.50% of the company’s stock.

Mueller Industries Price Performance

Shares of MLI opened at $108.03 on Tuesday. The stock’s 50-day moving average is $99.89 and its two-hundred day moving average is $87.60. The stock has a market cap of $11.99 billion, a PE ratio of 16.12 and a beta of 1.02. Mueller Industries, Inc. has a 12 month low of $66.84 and a 12 month high of $108.12.

Mueller Industries (NYSE:MLI) last issued its quarterly earnings data on Tuesday, October 21st. The industrial products company reported $1.88 EPS for the quarter, missing analysts’ consensus estimates of $1.99 by ($0.11). The company had revenue of $1.08 billion for the quarter, compared to analyst estimates of $942.00 million. Mueller Industries had a return on equity of 25.02% and a net margin of 18.10%.The company’s revenue for the quarter was up 8.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.48 EPS.

Insider Transactions at Mueller Industries

In other Mueller Industries news, CEO Gregory L. Christopher sold 158,000 shares of the business’s stock in a transaction dated Thursday, October 23rd. The stock was sold at an average price of $104.32, for a total transaction of $16,482,560.00. Following the transaction, the chief executive officer owned 1,119,241 shares in the company, valued at $116,759,221.12. The trade was a 12.37% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director John B. Hansen sold 1,000 shares of the business’s stock in a transaction dated Thursday, October 23rd. The stock was sold at an average price of $105.71, for a total value of $105,710.00. Following the transaction, the director owned 91,664 shares in the company, valued at approximately $9,689,801.44. This represents a 1.08% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 352,000 shares of company stock worth $36,576,640. 2.70% of the stock is currently owned by insiders.

Analyst Ratings Changes

Separately, Weiss Ratings reiterated a “buy (b)” rating on shares of Mueller Industries in a report on Wednesday, October 8th. Two analysts have rated the stock with a Buy rating, According to MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $105.00.

Mueller Industries Company 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.