GABELLI & Co INVESTMENT ADVISERS INC. purchased a new stake in Mueller Industries, Inc. (NYSE:MLI) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 6,500 shares of the industrial products company’s stock, valued at approximately $227,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Gamco Investors INC. ET AL lifted its stake in shares of Mueller Industries by 3.5% in the 3rd quarter. Gamco Investors INC. ET AL now owns 4,072,580 shares of the industrial products company’s stock valued at $142,337,000 after purchasing an additional 137,081 shares in the last quarter. Legato Capital Management LLC lifted its stake in shares of Mueller Industries by 25.0% in the 3rd quarter. Legato Capital Management LLC now owns 73,065 shares of the industrial products company’s stock valued at $2,554,000 after purchasing an additional 14,625 shares in the last quarter. Palisade Capital Management LLC NJ lifted its stake in shares of Mueller Industries by 1.9% in the 3rd quarter. Palisade Capital Management LLC NJ now owns 541,879 shares of the industrial products company’s stock valued at $18,939,000 after purchasing an additional 10,003 shares in the last quarter. Victory Capital Management Inc. lifted its stake in shares of Mueller Industries by 21.3% in the 3rd quarter. Victory Capital Management Inc. now owns 1,338,200 shares of the industrial products company’s stock valued at $46,770,000 after purchasing an additional 234,749 shares in the last quarter. Finally, Crossmark Global Holdings Inc. acquired a new position in shares of Mueller Industries in the 3rd quarter valued at about $358,000. 91.41% of the stock is currently owned by institutional investors and hedge funds.

In related news, Director John B. Hansen sold 2,000 shares of the company’s stock in a transaction dated Monday, October 30th. The shares were sold at an average price of $33.15, for a total value of $66,300.00. Following the completion of the sale, the director now owns 45,607 shares of the company’s stock, valued at $1,511,872.05. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Jeffrey Andrew Martin sold 3,500 shares of the company’s stock in a transaction dated Friday, September 15th. The shares were sold at an average price of $32.01, for a total transaction of $112,035.00. Following the completion of the sale, the chief financial officer now directly owns 111,146 shares of the company’s stock, valued at approximately $3,557,783.46. The disclosure for this sale can be found here. Corporate insiders own 2.79% of the company’s stock.

Separately, BidaskClub lowered Mueller Industries from a “hold” rating to a “sell” rating in a research report on Friday, August 18th.

Mueller Industries, Inc. (NYSE:MLI) remained flat at $$34.43 during trading on Tuesday. Mueller Industries, Inc. has a one year low of $27.72 and a one year high of $43.96. The company has a market cap of $1,990.00, a P/E ratio of 20.53 and a beta of 1.42. The company has a current ratio of 2.83, a quick ratio of 1.67 and a debt-to-equity ratio of 0.73.

Mueller Industries (NYSE:MLI) last released its earnings results on Tuesday, October 24th. The industrial products company reported $0.39 earnings per share (EPS) for the quarter. Mueller Industries had a net margin of 4.39% and a return on equity of 15.68%. The business had revenue of $550.36 million during the quarter.

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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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