Catalyst Capital Advisors LLC Purchases 19,216 Shares of Mueller Industries, Inc. (NYSE:MLI)

Catalyst Capital Advisors LLC increased its position in Mueller Industries, Inc. (NYSE:MLI) by 8,040.2% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 19,455 shares of the industrial products company’s stock after purchasing an additional 19,216 shares during the quarter. Catalyst Capital Advisors LLC’s holdings in Mueller Industries were worth $1,442,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of MLI. LSV Asset Management lifted its position in Mueller Industries by 44.1% in the second quarter. LSV Asset Management now owns 2,094,682 shares of the industrial products company’s stock worth $119,271,000 after purchasing an additional 641,114 shares during the period. F M Investments LLC bought a new position in shares of Mueller Industries during the second quarter valued at $14,441,000. Massachusetts Financial Services Co. MA lifted its holdings in shares of Mueller Industries by 1,124.4% during the second quarter. Massachusetts Financial Services Co. MA now owns 98,920 shares of the industrial products company’s stock valued at $5,633,000 after acquiring an additional 90,841 shares during the period. Bank of Montreal Can lifted its holdings in shares of Mueller Industries by 163.6% during the second quarter. Bank of Montreal Can now owns 118,527 shares of the industrial products company’s stock valued at $6,790,000 after acquiring an additional 73,567 shares during the period. Finally, New York State Common Retirement Fund lifted its holdings in shares of Mueller Industries by 20.4% during the third quarter. New York State Common Retirement Fund now owns 405,618 shares of the industrial products company’s stock valued at $30,056,000 after acquiring an additional 68,633 shares during the period. 94.50% of the stock is owned by institutional investors.

Mueller Industries Stock Performance

Shares of NYSE MLI opened at $83.00 on Tuesday. The stock has a market cap of $9.44 billion, a PE ratio of 16.12 and a beta of 1.01. The business has a fifty day moving average of $73.09 and a two-hundred day moving average of $64.81. Mueller Industries, Inc. has a 52-week low of $37.54 and a 52-week high of $84.11.

Mueller Industries (NYSE:MLI) last issued its quarterly earnings data on Tuesday, October 22nd. The industrial products company reported $1.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.32 by $0.16. The company had revenue of $997.80 million during the quarter, compared to analysts’ expectations of $936.00 million. Mueller Industries had a return on equity of 23.25% and a net margin of 16.39%. Mueller Industries’s revenue was up 21.7% on a year-over-year basis.

Insider Buying and Selling at Mueller Industries

In other news, CEO Gregory L. Christopher sold 45,000 shares of the firm’s stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $67.73, for a total value of $3,047,850.00. Following the completion of the sale, the chief executive officer now directly owns 1,264,311 shares in the company, valued at approximately $85,631,784.03. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. In other news, CEO Gregory L. Christopher sold 45,000 shares of the firm’s stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $67.73, for a total value of $3,047,850.00. Following the completion of the sale, the chief executive officer now directly owns 1,264,311 shares in the company, valued at approximately $85,631,784.03. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director John B. Hansen sold 8,000 shares of the firm’s stock in a transaction on Friday, August 9th. The shares were sold at an average price of $67.24, for a total value of $537,920.00. Following the completion of the sale, the director now owns 95,914 shares of the company’s stock, valued at approximately $6,449,257.36. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 104,000 shares of company stock valued at $7,164,860. 2.80% of the stock is currently owned by company insiders.

Mueller Industries Profile

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.