Mueller Industries, Inc. $MLI Shares Sold by Bessemer Group Inc.

Bessemer Group Inc. cut its stake in Mueller Industries, Inc. (NYSE:MLI) by 9.8% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 419,866 shares of the industrial products company’s stock after selling 45,560 shares during the quarter. Bessemer Group Inc. owned about 0.38% of Mueller Industries worth $42,452,000 as of its most recent SEC filing.

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

Insider Buying and Selling

In other Mueller Industries news, Director Scott Jay Goldman sold 4,234 shares of Mueller Industries stock in a transaction dated Tuesday, November 25th. The stock was sold at an average price of $108.64, for a total value of $459,981.76. Following the completion of the transaction, the director directly owned 41,745 shares of the company’s stock, valued at $4,535,176.80. The trade was a 9.21% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 2.70% of the stock is owned by company insiders.

Analysts Set New Price Targets

Separately, Weiss Ratings restated a “buy (b)” rating on shares of Mueller Industries in a research report on Thursday, January 22nd. One equities research analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, Mueller Industries currently has a consensus rating of “Buy”.

Mueller Industries Stock Performance

Mueller Industries stock opened at $115.33 on Friday. The company has a market capitalization of $12.80 billion, a PE ratio of 16.79 and a beta of 1.03. Mueller Industries, Inc. has a fifty-two week low of $66.84 and a fifty-two week high of $139.29. The firm has a 50 day moving average price of $121.00 and a 200 day moving average price of $106.24.

Mueller Industries (NYSE:MLI) last released its quarterly earnings results on Tuesday, February 3rd. The industrial products company reported $1.39 EPS for the quarter, missing the consensus estimate of $1.67 by ($0.28). Mueller Industries had a return on equity of 24.70% and a net margin of 18.31%.The firm had revenue of $962.39 million for the quarter, compared to analysts’ expectations of $928.00 million. During the same quarter in the prior year, the business earned $1.21 earnings per share. The company’s quarterly revenue was up 4.2% on a year-over-year basis.

Mueller Industries Company 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.