Palisade Capital Managementnj Lowers stake in Mueller Industries (MLI)

Mueller Industries (MLI) : Palisade Capital Managementnj reduced its stake in Mueller Industries by 0.87% during the most recent quarter end. The investment management company now holds a total of 536,474 shares of Mueller Industries which is valued at $18,004,067 after selling 4,686 shares in Mueller Industries , the firm said in a disclosure report filed with the SEC on Aug 2, 2016.Mueller Industries makes up approximately 0.76% of Palisade Capital Managementnj’s portfolio.

Other Hedge Funds, Including , First Manhattan Co reduced its stake in MLI by selling 1,800 shares or 0.78% in the most recent quarter. The Hedge Fund company now holds 229,343 shares of MLI which is valued at $7,983,430. Mueller Industries makes up approx 0.05% of First Manhattan Co’s portfolio.Capstone Asset Management Co boosted its stake in MLI in the latest quarter, The investment management firm added 330 additional shares and now holds a total of 16,330 shares of Mueller Industries which is valued at $553,914. Mueller Industries makes up approx 0.02% of Capstone Asset Management Co’s portfolio.

Mueller Industries closed down -0.08 points or -0.23% at $34.12 with 98,302 shares getting traded on Monday. Post opening the session at $34.15, the shares hit an intraday low of $34.01 and an intraday high of $34.33 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

Mueller Industries Inc. (Mueller) is a manufacturer of plumbing heating ventilation and air-conditioning (HVAC) refrigeration and industrial products. The Company’s products include copper tube and fittings; brass and copper alloy rod bar and shapes; aluminum and brass forgings; aluminum and copper impact extrusions; plastic fittings and valves; refrigeration valves and fittings; fabricated tubular products and steel nipples. The Company also resells imported brass and plastic plumbing valves malleable iron fittings faucets and plumbing specialty products. The Company operates through two segments: Plumbing & Refrigeration and Original Equipment Manufacturers (OEM). The Plumbing & Refrigeration segment is composed of Standard Products European Operations and Mexican Operations. The OEM segment is composed of Industrial Products (IPD) Engineered Products (EPD) and Jiangsu Mueller–Xingrong Copper Industries Limited (Mueller-Xingrong) the Company’s Chinese joint venture.

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