Morgan Stanley reduced its stake in Mueller Industries, Inc. (NYSE:MLI) by 38.4% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 152,459 shares of the industrial products company’s stock after selling 95,189 shares during the period. Morgan Stanley’s holdings in Mueller Industries were worth $5,217,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of MLI. State of Alaska Department of Revenue increased its stake in Mueller Industries by 2.1% in the first quarter. State of Alaska Department of Revenue now owns 6,360 shares of the industrial products company’s stock valued at $217,000 after buying an additional 130 shares during the last quarter. Legal & General Group Plc increased its stake in Mueller Industries by 0.3% in the first quarter. Legal & General Group Plc now owns 101,408 shares of the industrial products company’s stock valued at $3,467,000 after buying an additional 352 shares during the last quarter. Louisiana State Employees Retirement System increased its stake in Mueller Industries by 1.7% in the first quarter. Louisiana State Employees Retirement System now owns 23,500 shares of the industrial products company’s stock valued at $804,000 after buying an additional 400 shares during the last quarter. Tdam USA Inc. increased its stake in Mueller Industries by 1.8% in the first quarter. Tdam USA Inc. now owns 23,147 shares of the industrial products company’s stock valued at $792,000 after buying an additional 414 shares during the last quarter. Finally, Arizona State Retirement System increased its stake in Mueller Industries by 1.7% in the first quarter. Arizona State Retirement System now owns 30,019 shares of the industrial products company’s stock valued at $1,028,000 after buying an additional 500 shares during the last quarter. 90.29% of the stock is owned by institutional investors and hedge funds.

Mueller Industries, Inc. (NYSE:MLI) traded down 0.32% during midday trading on Wednesday, reaching $30.71. 24,724 shares of the company traded hands. The company has a 50-day moving average price of $30.45 and a 200-day moving average price of $33.83. The company has a market cap of $1.77 billion, a price-to-earnings ratio of 17.54 and a beta of 1.37. Mueller Industries, Inc. has a 12-month low of $27.72 and a 12-month high of $43.96.

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In related news, Director John B. Hansen sold 2,000 shares of the firm’s stock in a transaction dated Monday, July 31st. The stock was sold at an average price of $31.05, for a total value of $62,100.00. Following the transaction, the director now owns 45,607 shares in the company, valued at $1,416,097.35. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 2.79% of the company’s stock.

About Mueller Industries

Mueller Industries, Inc is a manufacturer of copper, brass, aluminum and plastic products. The Company operates through three segments: Piping Systems, Industrial Metals and Climate. The Company’s products include copper tube and fittings; line sets; brass and copper alloy rod, bar, and shapes; aluminum and brass forgings; aluminum impact extrusions; plastic fittings and valves; refrigeration valves and fittings; fabricated tubular products, and steel nipples.

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Institutional Ownership by Quarter for Mueller Industries (NYSE:MLI)

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