Retirement Guys Formula LLC Trims Position in Mueller Industries, Inc. (NYSE:MLI)

Retirement Guys Formula LLC cut its holdings in shares of Mueller Industries, Inc. (NYSE:MLI) by 5.1% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 2,566 shares of the industrial products company’s stock after selling 139 shares during the quarter. Retirement Guys Formula LLC’s holdings in Mueller Industries were worth $204,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. GAMMA Investing LLC raised its position in Mueller Industries by 36.0% during the 3rd quarter. GAMMA Investing LLC now owns 552 shares of the industrial products company’s stock worth $41,000 after buying an additional 146 shares during the last quarter. Westside Investment Management Inc. purchased a new position in Mueller Industries during the 3rd quarter worth approximately $41,000. Mirae Asset Global Investments Co. Ltd. purchased a new position in Mueller Industries during the 4th quarter worth approximately $53,000. City State Bank purchased a new position in Mueller Industries during the 4th quarter worth approximately $58,000. Finally, Harbor Capital Advisors Inc. purchased a new position in Mueller Industries during the 3rd quarter worth approximately $64,000. 94.50% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, Northcoast Research raised shares of Mueller Industries from a “neutral” rating to a “buy” rating and set a $105.00 price target for the company in a research report on Wednesday, December 11th.

Mueller Industries Price Performance

NYSE:MLI opened at $80.90 on Wednesday. The firm has a market cap of $9.20 billion, a price-to-earnings ratio of 15.23 and a beta of 0.98. The company has a 50 day moving average price of $80.28 and a 200-day moving average price of $77.20. Mueller Industries, Inc. has a 1-year low of $47.46 and a 1-year high of $96.81.

Mueller Industries (NYSE:MLI) last posted its earnings results on Tuesday, February 4th. The industrial products company reported $1.21 earnings per share for the quarter, beating the consensus estimate of $1.12 by $0.09. Mueller Industries had a net margin of 16.05% and a return on equity of 22.97%.

Insider Activity

In related news, Director Charles P. Herzog, Jr. sold 15,000 shares of the business’s stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $92.04, for a total value of $1,380,600.00. Following the completion of the sale, the director now owns 17,733 shares of the company’s stock, valued at approximately $1,632,145.32. The trade was a 45.83 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 2.80% of the company’s stock.

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.