Retirement Guys Formula LLC Cuts Stock Holdings in Mueller Industries, Inc. (NYSE:MLI)

Retirement Guys Formula LLC decreased its holdings in shares of Mueller Industries, Inc. (NYSE:MLI) by 5.1% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 2,566 shares of the industrial products company’s stock after selling 139 shares during the period. Retirement Guys Formula LLC’s holdings in Mueller Industries were worth $204,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. GAMMA Investing LLC increased its position in Mueller Industries by 36.0% during the 3rd quarter. GAMMA Investing LLC now owns 552 shares of the industrial products company’s stock valued at $41,000 after purchasing an additional 146 shares during the period. Westside Investment Management Inc. bought a new stake in shares of Mueller Industries in the 3rd quarter valued at about $41,000. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of Mueller Industries in the 4th quarter valued at about $53,000. City State Bank bought a new stake in shares of Mueller Industries in the 4th quarter valued at about $58,000. Finally, Harbor Capital Advisors Inc. bought a new stake in shares of Mueller Industries in the 3rd quarter valued at about $64,000. Hedge funds and other institutional investors own 94.50% of the company’s stock.

Analysts Set New Price Targets

Separately, Northcoast Research upgraded shares of Mueller Industries from a “neutral” rating to a “buy” rating and set a $105.00 price target on the stock in a report on Wednesday, December 11th.

Mueller Industries Stock Performance

NYSE:MLI opened at $80.90 on Wednesday. Mueller Industries, Inc. has a fifty-two week low of $47.46 and a fifty-two week high of $96.81. The stock has a market capitalization of $9.20 billion, a P/E ratio of 15.23 and a beta of 0.98. The company’s 50-day simple moving average is $80.28 and its 200-day simple moving average is $77.20.

Mueller Industries (NYSE:MLI) last released its quarterly earnings results on Tuesday, February 4th. The industrial products company reported $1.21 earnings per share for the quarter, beating analysts’ consensus estimates of $1.12 by $0.09. Mueller Industries had a net margin of 16.05% and a return on equity of 22.97%.

Insider Buying and Selling

In related news, Director Charles P. Herzog, Jr. sold 15,000 shares of Mueller Industries stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $92.04, for a total value of $1,380,600.00. Following the completion of the sale, the director now directly owns 17,733 shares in the company, valued at $1,632,145.32. This trade represents a 45.83 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 2.80% of the stock is owned by company insiders.

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.