Millington Financial Advisors LLC raised its holdings in Mueller Industries, Inc. (NYSE:MLI – Free Report) by 3.8% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 16,511 shares of the industrial products company’s stock after buying an additional 605 shares during the period. Mueller Industries makes up approximately 1.1% of Millington Financial Advisors LLC’s holdings, making the stock its 29th biggest holding. Millington Financial Advisors LLC’s holdings in Mueller Industries were worth $1,241,000 at the end of the most recent quarter.
Several other hedge funds have also made changes to their positions in the company. Raymond James & Associates purchased a new stake in shares of Mueller Industries during the 1st quarter worth $379,000. HighTower Advisors LLC raised its position in Mueller Industries by 18.7% during the first quarter. HighTower Advisors LLC now owns 4,400 shares of the industrial products company’s stock valued at $239,000 after acquiring an additional 693 shares in the last quarter. Citigroup Inc. raised its position in Mueller Industries by 9.4% during the first quarter. Citigroup Inc. now owns 49,850 shares of the industrial products company’s stock valued at $2,700,000 after acquiring an additional 4,289 shares in the last quarter. Natixis Advisors L.P. increased its position in shares of Mueller Industries by 18.1% in the first quarter. Natixis Advisors L.P. now owns 11,931 shares of the industrial products company’s stock valued at $646,000 after buying an additional 1,826 shares in the last quarter. Finally, Acadian Asset Management LLC increased its position in shares of Mueller Industries by 607.0% in the first quarter. Acadian Asset Management LLC now owns 11,949 shares of the industrial products company’s stock valued at $644,000 after buying an additional 10,259 shares in the last quarter. 94.50% of the stock is currently owned by hedge funds and other institutional investors.
Mueller Industries Stock Up 1.5 %
Shares of Mueller Industries stock opened at $49.00 on Thursday. The firm has a market cap of $5.56 billion, a PE ratio of 8.92 and a beta of 1.10. Mueller Industries, Inc. has a 52 week low of $32.94 and a 52 week high of $49.96. The business’s fifty day simple moving average is $46.05 and its 200-day simple moving average is $41.52.
Insider Activity at Mueller Industries
Analysts Set New Price Targets
A number of analysts have recently issued reports on the company. Northcoast Research reaffirmed a “neutral” rating on shares of Mueller Industries in a research note on Friday, January 19th. StockNews.com lowered Mueller Industries from a “buy” rating to a “hold” rating in a research note on Monday, January 22nd.
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; PEX plumbing and radiant systems; and plumbing-related fittings and plastic injection tooling.
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