Freemont Management S.A. Takes $566,000 Position in Mueller Industries, Inc. $MLI

Freemont Management S.A. bought a new position in shares of Mueller Industries, Inc. (NYSE:MLI) during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor bought 5,600 shares of the industrial products company’s stock, valued at approximately $566,000.

A number of other hedge funds have also recently bought and sold shares of MLI. Norges Bank bought a new stake in shares of Mueller Industries during the 2nd quarter worth approximately $127,287,000. Qube Research & Technologies Ltd acquired a new position in Mueller Industries during the second quarter worth $75,901,000. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in Mueller Industries during the second quarter worth $54,751,000. Vaughan Nelson Investment Management L.P. acquired a new stake in Mueller Industries in the third quarter valued at $51,789,000. Finally, Cubist Systematic Strategies LLC bought a new position in shares of Mueller Industries in the 2nd quarter valued at about $36,974,000. 94.50% of the stock is currently owned by institutional investors.

Mueller Industries Stock Down 1.3%

Shares of NYSE:MLI opened at $119.06 on Friday. Mueller Industries, Inc. has a 12-month low of $66.84 and a 12-month high of $139.29. The business has a 50 day moving average of $121.75 and a 200-day moving average of $107.35. The stock has a market cap of $13.22 billion, a PE ratio of 17.33 and a beta of 1.03.

Analyst Ratings Changes

Several equities research analysts recently issued reports on MLI shares. Weiss Ratings reiterated a “buy (b)” rating on shares of Mueller Industries in a research note on Thursday, January 22nd. Wall Street Zen cut Mueller Industries from a “buy” rating to a “hold” rating in a research report on Saturday, February 7th. One research analyst has rated the stock with a Buy rating, According to MarketBeat, the company currently has an average rating of “Buy”.

Insiders Place Their Bets

In related news, Director Scott Jay Goldman sold 4,234 shares of the firm’s stock in a transaction dated Tuesday, November 25th. The shares were sold at an average price of $108.64, for a total transaction of $459,981.76. Following the transaction, the director directly owned 41,745 shares of the company’s stock, valued at approximately $4,535,176.80. This trade represents a 9.21% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director John B. Hansen sold 1,000 shares of Mueller Industries stock in a transaction dated Monday, February 9th. The stock was sold at an average price of $116.71, for a total transaction of $116,710.00. Following the completion of the sale, the director owned 90,664 shares of the company’s stock, valued at $10,581,395.44. This trade represents a 1.09% decrease in their position. The SEC filing for this sale provides additional information. 2.70% of the stock is currently owned by company insiders.

Mueller Industries Profile

Mueller Industries, Inc is a diversified manufacturer and marketer of copper, brass, aluminum and plastic products. Headquartered in Memphis, Tennessee, the company serves a wide range of markets including HVAC (heating, ventilation and air conditioning), refrigeration, plumbing, industrial gas, automotive and agricultural sectors. Its product portfolio encompasses copper and plastic tubing, brass fittings, valves and related components designed for fluid handling and temperature control applications.

The company operates through multiple business segments, including the Plumbing & Refrigeration segment, which supplies copper and plastic tubing, fittings and valves for residential and commercial construction markets; the Industrial Metals & Mining segment, which provides aluminum shapes and specialty brass products for industrial applications; and the Climate segment, which focuses on copper tubing and components for air conditioning and refrigeration systems.