Congress Asset Management Co. Cuts Position in Mueller Industries, Inc. (NYSE:MLI)

Congress Asset Management Co. reduced its holdings in shares of Mueller Industries, Inc. (NYSE:MLI) by 2.1% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 190,186 shares of the industrial products company’s stock after selling 4,064 shares during the quarter. Congress Asset Management Co. owned 0.17% of Mueller Industries worth $14,093,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Vanguard Group Inc. increased its holdings in Mueller Industries by 0.5% in the 1st quarter. Vanguard Group Inc. now owns 12,359,057 shares of the industrial products company’s stock valued at $666,524,000 after purchasing an additional 59,060 shares in the last quarter. Westfield Capital Management Co. LP lifted its position in Mueller Industries by 6.1% during the 1st quarter. Westfield Capital Management Co. LP now owns 168,849 shares of the industrial products company’s stock worth $9,106,000 after acquiring an additional 9,719 shares in the last quarter. SG Americas Securities LLC lifted its position in shares of Mueller Industries by 314.6% during the second quarter. SG Americas Securities LLC now owns 38,041 shares of the industrial products company’s stock worth $2,166,000 after purchasing an additional 28,865 shares in the last quarter. Janus Henderson Group PLC increased its holdings in Mueller Industries by 24.0% during the 1st quarter. Janus Henderson Group PLC now owns 110,713 shares of the industrial products company’s stock worth $5,971,000 after purchasing an additional 21,404 shares during the last quarter. Finally, Advisors Asset Management Inc. boosted its stake in shares of Mueller Industries by 17.8% during the 1st quarter. Advisors Asset Management Inc. now owns 49,176 shares of the industrial products company’s stock valued at $2,652,000 after buying an additional 7,415 shares during the last quarter. Institutional investors and hedge funds own 94.50% of the company’s stock.

Mueller Industries Trading Down 1.2 %

Shares of NYSE:MLI opened at $81.97 on Friday. The firm has a market cap of $9.32 billion, a PE ratio of 15.92 and a beta of 1.03. The company has a fifty day simple moving average of $72.62 and a 200 day simple moving average of $64.31. Mueller Industries, Inc. has a 12-month low of $37.09 and a 12-month high of $84.11.

Mueller Industries (NYSE:MLI) last released its earnings results 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. The company had revenue of $997.80 million during 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%. The business’s revenue was up 21.7% compared to the same quarter last year.

Insider Activity at Mueller Industries

In other Mueller Industries 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 sale, the director now owns 94,914 shares in the company, valued at $7,886,404.26. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. In other Mueller Industries news, Director John B. Hansen sold 1,000 shares of the business’s stock in a transaction on Wednesday, October 30th. The shares were 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 $7,886,404.26. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Gregory L. Christopher sold 45,000 shares of the stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $67.73, for a total transaction of $3,047,850.00. Following the sale, the chief executive officer now owns 1,264,311 shares in the company, valued at approximately $85,631,784.03. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 104,000 shares of company stock valued at $7,164,860 over the last three months. 2.80% of the stock is owned by insiders.

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.