Freedom Day Solutions LLC Sells 1,390 Shares of Mueller Industries, Inc. (NYSE:MLI)

Freedom Day Solutions LLC reduced its holdings in shares of Mueller Industries, Inc. (NYSE:MLI) by 3.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 40,685 shares of the industrial products company’s stock after selling 1,390 shares during the quarter. Mueller Industries accounts for 1.0% of Freedom Day Solutions LLC’s portfolio, making the stock its 25th biggest holding. Freedom Day Solutions LLC’s holdings in Mueller Industries were worth $3,229,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. CIBC Asset Management Inc lifted its holdings in shares of Mueller Industries by 5.3% during the fourth quarter. CIBC Asset Management Inc now owns 3,447 shares of the industrial products company’s stock valued at $274,000 after purchasing an additional 174 shares in the last quarter. GM Advisory Group LLC lifted its holdings in shares of Mueller Industries by 5.3% during the third quarter. GM Advisory Group LLC now owns 3,792 shares of the industrial products company’s stock valued at $281,000 after purchasing an additional 192 shares in the last quarter. Caprock Group LLC lifted its holdings in shares of Mueller Industries by 2.3% during the fourth quarter. Caprock Group LLC now owns 8,495 shares of the industrial products company’s stock valued at $674,000 after purchasing an additional 194 shares in the last quarter. Kestra Investment Management LLC lifted its holdings in shares of Mueller Industries by 7.7% during the fourth quarter. Kestra Investment Management LLC now owns 3,045 shares of the industrial products company’s stock valued at $242,000 after purchasing an additional 218 shares in the last quarter. Finally, GAMMA Investing LLC lifted its holdings in shares of Mueller Industries by 46.7% during the fourth quarter. GAMMA Investing LLC now owns 810 shares of the industrial products company’s stock valued at $64,000 after purchasing an additional 258 shares in the last quarter. 94.50% of the stock is owned by institutional investors.

Mueller Industries Stock Performance

Mueller Industries stock opened at $81.57 on Thursday. The stock has a market cap of $9.28 billion, a PE ratio of 15.36 and a beta of 0.98. Mueller Industries, Inc. has a one year low of $47.46 and a one year high of $96.81. The stock has a fifty day moving average of $80.44 and a 200 day moving average of $77.64.

Mueller Industries (NYSE:MLI) last posted its quarterly earnings data on Tuesday, February 4th. The industrial products company reported $1.21 EPS for the quarter, beating 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%.

Wall Street Analysts Forecast Growth

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

Insider Activity at Mueller Industries

In other Mueller Industries news, Director Scott Jay Goldman sold 10,000 shares of the company’s stock in a transaction dated Thursday, February 13th. The stock was sold at an average price of $79.81, for a total value of $798,100.00. Following the completion of the sale, the director now owns 56,098 shares in the company, valued at $4,477,181.38. This represents a 15.13 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 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.