Cibc World Market Inc. Purchases 8,545 Shares of Mueller Industries, Inc. $MLI

Cibc World Market Inc. increased its position in shares of Mueller Industries, Inc. (NYSE:MLI) by 22.8% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 46,051 shares of the industrial products company’s stock after purchasing an additional 8,545 shares during the period. Cibc World Market Inc.’s holdings in Mueller Industries were worth $4,656,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of MLI. NewEdge Advisors LLC raised its holdings in Mueller Industries by 10.7% during the first quarter. NewEdge Advisors LLC now owns 14,722 shares of the industrial products company’s stock valued at $1,121,000 after acquiring an additional 1,420 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in shares of Mueller Industries by 1.5% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 230,671 shares of the industrial products company’s stock worth $17,563,000 after purchasing an additional 3,316 shares in the last quarter. Acadian Asset Management LLC bought a new stake in Mueller Industries during the 1st quarter valued at approximately $524,000. Vanguard Personalized Indexing Management LLC lifted its holdings in Mueller Industries by 9.1% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 14,650 shares of the industrial products company’s stock worth $1,164,000 after purchasing an additional 1,223 shares in the last quarter. Finally, Sequoia Financial Advisors LLC lifted its holdings in Mueller Industries by 49.7% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 7,314 shares of the industrial products company’s stock worth $581,000 after purchasing an additional 2,428 shares in the last quarter. Hedge funds and other institutional investors own 94.50% of the company’s stock.

Mueller Industries Price Performance

Shares of MLI opened at $119.36 on Friday. The firm has a market capitalization of $13.25 billion, a price-to-earnings ratio of 17.37 and a beta of 1.03. Mueller Industries, Inc. has a 1-year low of $66.84 and a 1-year high of $139.29. The company has a 50-day moving average of $121.87 and a 200 day moving average of $107.70.

Analyst Ratings Changes

A number of brokerages have issued reports on MLI. Wall Street Zen lowered shares of Mueller Industries from a “buy” rating to a “hold” rating in a report on Saturday, February 7th. Weiss Ratings restated a “buy (b)” rating on shares of Mueller Industries in a research report on Thursday, January 22nd. One investment analyst has rated the stock with a Buy rating, According to data from MarketBeat, the stock presently has a consensus rating of “Buy”.

Insiders Place Their Bets

In other news, Director Scott Jay Goldman sold 4,430 shares of the firm’s stock in a transaction on Friday, February 13th. The stock was sold at an average price of $118.97, for a total transaction of $527,037.10. Following the transaction, the director owned 41,645 shares in the company, valued at approximately $4,954,505.65. This trade represents a 9.61% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director John B. Hansen sold 1,000 shares of the company’s stock in a transaction dated Monday, February 9th. The stock was sold at an average price of $116.71, for a total transaction of $116,710.00. Following the completion of the sale, the director directly owned 90,664 shares of the company’s stock, valued at approximately $10,581,395.44. This trade represents a 1.09% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 9,664 shares of company stock worth $1,103,729 in the last three months. Corporate insiders own 2.70% of the company’s stock.

Mueller Industries 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.