US Bancorp DE Acquires 1,444 Shares of Mueller Industries, Inc. (NYSE:MLI)

US Bancorp DE lifted its position in Mueller Industries, Inc. (NYSE:MLI) by 8.9% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 17,741 shares of the industrial products company’s stock after purchasing an additional 1,444 shares during the quarter. US Bancorp DE’s holdings in Mueller Industries were worth $1,315,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. International Assets Investment Management LLC bought a new stake in shares of Mueller Industries in the second quarter worth about $26,000. Federated Hermes Inc. bought a new stake in shares of Mueller Industries in the second quarter worth about $28,000. Opal Wealth Advisors LLC bought a new stake in shares of Mueller Industries in the second quarter worth about $30,000. GAMMA Investing LLC increased its holdings in shares of Mueller Industries by 36.0% in the third quarter. GAMMA Investing LLC now owns 552 shares of the industrial products company’s stock worth $41,000 after purchasing an additional 146 shares during the last quarter. Finally, Larson Financial Group LLC increased its holdings in shares of Mueller Industries by 61.7% in the second quarter. Larson Financial Group LLC now owns 967 shares of the industrial products company’s stock worth $55,000 after purchasing an additional 369 shares during the last quarter. 94.50% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Mueller Industries news, Director John B. Hansen sold 1,000 shares of the business’s stock in a transaction that occurred on Wednesday, October 30th. The stock was sold at an average price of $83.09, for a total transaction of $83,090.00. Following the sale, the director now directly owns 94,914 shares of the company’s stock, valued at $7,886,404.26. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other news, Director John B. Hansen sold 1,000 shares of the company’s stock in a transaction that occurred on Wednesday, October 30th. The stock was sold at an average price of $83.09, for a total transaction of $83,090.00. Following the transaction, the director now owns 94,914 shares of the company’s stock, valued at approximately $7,886,404.26. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Gregory L. Christopher sold 50,000 shares of the company’s stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $69.92, for a total value of $3,496,000.00. Following the transaction, the chief executive officer now directly owns 1,214,311 shares in the company, valued at approximately $84,904,625.12. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 96,000 shares of company stock valued at $6,626,940 over the last ninety days. 2.80% of the stock is owned by insiders.

Mueller Industries Trading Down 1.6 %

Shares of MLI stock opened at $93.52 on Friday. The stock has a market capitalization of $10.64 billion, a price-to-earnings ratio of 18.16 and a beta of 1.01. Mueller Industries, Inc. has a 12-month low of $37.54 and a 12-month high of $95.84. The stock’s 50-day moving average price is $74.58 and its 200-day moving average price is $65.66.

Mueller Industries (NYSE:MLI) last issued its quarterly earnings data on Tuesday, October 22nd. The industrial products company reported $1.48 earnings per share for the quarter, topping the consensus estimate of $1.32 by $0.16. Mueller Industries had a return on equity of 23.25% and a net margin of 16.39%. The company had revenue of $997.80 million for the quarter, compared to analysts’ expectations of $936.00 million. The firm’s revenue was up 21.7% compared to the same quarter last year.

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.