Venturi Wealth Management LLC Has $13.76 Million Stock Holdings in Mueller Industries, Inc. (NYSE:MLI)

Venturi Wealth Management LLC reduced its holdings in Mueller Industries, Inc. (NYSE:MLI) by 1.9% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 173,328 shares of the industrial products company’s stock after selling 3,273 shares during the quarter. Venturi Wealth Management LLC owned approximately 0.15% of Mueller Industries worth $13,755,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of MLI. CIBC Asset Management Inc grew its stake in shares of Mueller Industries by 5.3% in the fourth quarter. CIBC Asset Management Inc now owns 3,447 shares of the industrial products company’s stock worth $274,000 after purchasing an additional 174 shares during the last quarter. Sanctuary Advisors LLC grew its position in shares of Mueller Industries by 2.0% in the 4th quarter. Sanctuary Advisors LLC now owns 13,636 shares of the industrial products company’s stock valued at $1,092,000 after buying an additional 263 shares during the last quarter. Monument Capital Management increased its stake in shares of Mueller Industries by 7.6% in the fourth quarter. Monument Capital Management now owns 4,692 shares of the industrial products company’s stock valued at $372,000 after buying an additional 332 shares during the period. Principal Securities Inc. increased its stake in shares of Mueller Industries by 48.2% in the fourth quarter. Principal Securities Inc. now owns 1,135 shares of the industrial products company’s stock valued at $90,000 after buying an additional 369 shares during the period. Finally, Congress Asset Management Co. raised its position in shares of Mueller Industries by 6.5% during the fourth quarter. Congress Asset Management Co. now owns 202,636 shares of the industrial products company’s stock worth $16,081,000 after acquiring an additional 12,450 shares during the last quarter. Institutional investors own 94.50% of the company’s stock.

Mueller Industries Stock Up 0.8 %

MLI opened at $81.23 on Tuesday. The stock has a market cap of $9.24 billion, a PE ratio of 15.30 and a beta of 0.98. Mueller Industries, Inc. has a twelve month low of $47.46 and a twelve month high of $96.81. The company has a fifty day moving average of $80.44 and a 200-day moving average of $77.51.

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

Insider Buying and Selling at Mueller Industries

In other news, Director Charles P. Herzog, Jr. sold 15,000 shares of the company’s stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $92.04, for a total transaction of $1,380,600.00. Following the transaction, the director now owns 17,733 shares in the company, valued at approximately $1,632,145.32. This represents a 45.83 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Scott Jay Goldman sold 10,000 shares of the stock in a transaction dated Thursday, February 13th. The stock was sold at an average price of $79.81, for a total transaction of $798,100.00. Following the transaction, the director now directly owns 56,098 shares in the company, valued at $4,477,181.38. This trade represents a 15.13 % decrease in their position. The disclosure for this sale can be found here. Insiders own 2.80% of the company’s stock.

Analyst Upgrades and Downgrades

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

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.