NBC Securities Inc. acquired a new stake in shares of Mueller Industries, Inc. (NYSE:MLI – Free Report) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 700 shares of the industrial products company’s stock, valued at approximately $52,000.
Several other hedge funds and other institutional investors have also recently modified their holdings of the company. BlackRock Inc. raised its stake in shares of Mueller Industries by 0.7% during the first quarter. BlackRock Inc. now owns 8,779,865 shares of the industrial products company’s stock valued at $475,606,000 after acquiring an additional 64,501 shares during the last quarter. Vanguard Group Inc. raised its stake in Mueller Industries by 1.9% in the first quarter. Vanguard Group Inc. now owns 6,341,321 shares of the industrial products company’s stock worth $343,510,000 after buying an additional 116,393 shares in the last quarter. First Trust Advisors LP raised its stake in Mueller Industries by 284.1% in the first quarter. First Trust Advisors LP now owns 2,701,964 shares of the industrial products company’s stock worth $198,540,000 after buying an additional 1,998,534 shares in the last quarter. Allspring Global Investments Holdings LLC raised its stake in Mueller Industries by 3.9% in the third quarter. Allspring Global Investments Holdings LLC now owns 2,640,071 shares of the industrial products company’s stock worth $198,428,000 after buying an additional 99,633 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in Mueller Industries by 2.6% in the second quarter. Dimensional Fund Advisors LP now owns 2,064,756 shares of the industrial products company’s stock worth $180,211,000 after buying an additional 51,651 shares in the last quarter. 94.50% of the stock is owned by institutional investors.
Insider Buying and Selling at Mueller Industries
In other news, insider Steffen Sigloch sold 58,522 shares of the stock in a transaction that occurred on Friday, December 15th. The shares were sold at an average price of $45.11, for a total transaction of $2,639,927.42. Following the sale, the insider now owns 321,766 shares in the company, valued at $14,514,864.26. The transaction was disclosed in a filing with the SEC, which is available at this link. Over the last quarter, insiders sold 112,322 shares of company stock valued at $5,200,269. Corporate insiders own 2.80% of the company’s stock.
Mueller Industries Stock Performance
Wall Street Analysts Forecast Growth
MLI has been the subject of a number of research reports. Northcoast Research reissued a “neutral” rating on shares of Mueller Industries in a research note on Friday, January 19th. StockNews.com downgraded shares of Mueller Industries from a “buy” rating to a “hold” rating in a research note on Monday, January 22nd.
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; PEX plumbing and radiant systems; and plumbing-related fittings and plastic injection tooling.
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