Mueller Industries, Inc. $MLI Stock Position Lifted by denkapparat Operations GmbH

denkapparat Operations GmbH grew its holdings in shares of Mueller Industries, Inc. (NYSE:MLI) by 70.5% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 11,230 shares of the industrial products company’s stock after purchasing an additional 4,642 shares during the period. Mueller Industries makes up approximately 0.7% of denkapparat Operations GmbH’s investment portfolio, making the stock its 21st largest holding. denkapparat Operations GmbH’s holdings in Mueller Industries were worth $1,135,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also modified their holdings of MLI. HighTower Advisors LLC increased its stake in Mueller Industries by 11.0% during the 3rd quarter. HighTower Advisors LLC now owns 21,598 shares of the industrial products company’s stock valued at $2,184,000 after buying an additional 2,140 shares during the period. BTC Capital Management Inc. lifted its stake in shares of Mueller Industries by 5.0% in the 3rd quarter. BTC Capital Management Inc. now owns 7,880 shares of the industrial products company’s stock worth $797,000 after acquiring an additional 372 shares during the period. Freemont Management S.A. bought a new position in shares of Mueller Industries in the third quarter valued at approximately $566,000. Abich Financial Wealth Management LLC acquired a new position in shares of Mueller Industries during the third quarter valued at approximately $47,000. Finally, Assetmark Inc. increased its stake in shares of Mueller Industries by 3.7% during the third quarter. Assetmark Inc. now owns 103,195 shares of the industrial products company’s stock valued at $10,434,000 after acquiring an additional 3,677 shares during the period. 94.50% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, Director John B. Hansen sold 1,000 shares of the business’s stock in a transaction on Monday, February 9th. The shares were sold at an average price of $116.71, for a total transaction of $116,710.00. Following the transaction, the director owned 90,664 shares of the company’s stock, valued at approximately $10,581,395.44. The trade was a 1.09% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Scott Jay Goldman sold 4,430 shares of the business’s stock in a transaction dated Friday, February 13th. The stock was sold at an average price of $118.97, for a total transaction of $527,037.10. Following the transaction, the director owned 41,645 shares in the company, valued at approximately $4,954,505.65. The trade was a 9.61% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders sold 9,664 shares of company stock worth $1,103,729. Insiders own 2.70% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on MLI shares. Wall Street Zen downgraded Mueller Industries from a “buy” rating to a “hold” rating in a research report on Saturday, February 7th. Weiss Ratings restated a “buy (b)” rating on shares of Mueller Industries in a report on Thursday, January 22nd. One analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the stock presently has a consensus rating of “Buy”.

Mueller Industries Stock Performance

NYSE MLI opened at $119.36 on Monday. Mueller Industries, Inc. has a 1 year low of $66.84 and a 1 year high of $139.29. The business’s fifty day moving average is $121.87 and its two-hundred day moving average is $107.84. The stock has a market capitalization of $13.25 billion, a P/E ratio of 17.37 and a beta of 1.03.

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.