Is this the reason my my over heating?

What kind of mustang do you have? If a SN95 and the grill is really restrictive, then it could lead to an issue. On an aero GT fox, a grill insert can only help.

If it only runs hot at speed, do you have the air dam under the car?
 
You'll have to tell us more about when it overheats and how it overheats. Don't trust the stock gauge.

Let us know if you have done any fan switch modifications.