Van ECK Associates Corp Acquires 20,775 Shares of Mueller Industries, Inc. (NYSE:MLI)

Van ECK Associates Corp increased its holdings in Mueller Industries, Inc. (NYSE:MLI) by 40.0% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 72,704 shares of the industrial products company’s stock after buying an additional 20,775 shares during the quarter. Van ECK Associates Corp’s holdings in Mueller Industries were worth $5,889,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in MLI. International Assets Investment Management LLC bought a new stake in shares of Mueller Industries during the 2nd quarter valued at $26,000. Federated Hermes Inc. bought a new stake in Mueller Industries during the second quarter valued at about $28,000. Opal Wealth Advisors LLC bought a new position in shares of Mueller Industries in the second quarter worth about $30,000. GAMMA Investing LLC lifted its position in shares of Mueller Industries by 36.0% during the 3rd 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 in the last quarter. Finally, Larson Financial Group LLC grew its stake in shares of Mueller Industries by 61.7% during the 2nd quarter. Larson Financial Group LLC now owns 967 shares of the industrial products company’s stock valued at $55,000 after acquiring an additional 369 shares during the period. 94.50% of the stock is owned by hedge funds and other institutional investors.

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

Mueller Industries Trading Down 1.6 %

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

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

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.