ING Groep NV Acquires Shares of 61,800 Mueller Industries, Inc. $MLI

ING Groep NV bought a new stake in shares of Mueller Industries, Inc. (NYSE:MLI) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 61,800 shares of the industrial products company’s stock, valued at approximately $6,249,000. ING Groep NV owned approximately 0.06% of Mueller Industries at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Employees Retirement System of Texas bought a new stake in Mueller Industries during the second quarter worth about $34,000. Root Financial Partners LLC bought a new position in shares of Mueller Industries during the third quarter valued at approximately $38,000. Northwestern Mutual Wealth Management Co. lifted its holdings in shares of Mueller Industries by 108.8% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 501 shares of the industrial products company’s stock valued at $40,000 after purchasing an additional 261 shares during the last quarter. Atlantic Union Bankshares Corp bought a new stake in shares of Mueller Industries in the 3rd quarter worth approximately $46,000. Finally, Compagnie Lombard Odier SCmA bought a new stake in shares of Mueller Industries in the 3rd quarter worth approximately $61,000. 94.50% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

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

Insiders Place Their Bets

In related news, Director John B. Hansen sold 1,000 shares of the stock in a transaction on Monday, February 9th. The stock was sold at an average price of $116.71, for a total transaction of $116,710.00. Following the sale, the director directly owned 90,664 shares of the company’s stock, valued at $10,581,395.44. This trade represents a 1.09% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Scott Jay Goldman sold 4,234 shares of Mueller Industries stock in a transaction dated Tuesday, November 25th. The stock was sold at an average price of $108.64, for a total value of $459,981.76. Following the completion of the sale, the director owned 41,745 shares of the company’s stock, valued at $4,535,176.80. The trade was a 9.21% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 2.70% of the company’s stock.

Mueller Industries Stock Down 1.3%

Shares of NYSE MLI opened at $119.06 on Friday. The firm has a market cap of $13.22 billion, a P/E ratio of 17.33 and a beta of 1.03. Mueller Industries, Inc. has a twelve month low of $66.84 and a twelve month high of $139.29. The company has a 50 day moving average of $121.75 and a 200 day moving average of $107.35.

About Mueller Industries

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.