Mueller Industries (NYSE:MLI) Director Scott Jay Goldman Sells 4,430 Shares

Mueller Industries, Inc. (NYSE:MLI) Director Scott Jay Goldman sold 4,430 shares of Mueller Industries stock in a transaction that occurred on Friday, February 13th. The stock was sold at an average price of $118.97, for a total transaction of $527,037.10. Following the completion of the transaction, the director owned 41,645 shares of the company’s stock, valued at $4,954,505.65. This represents a 9.61% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Scott Jay Goldman also recently made the following trade(s):

• On Tuesday, November 25th, Scott Jay Goldman sold 4,234 shares of Mueller Industries stock. The stock was sold at an average price of $108.64, for a total transaction of $459,981.76.

Mueller Industries Stock Up 0.4%

Mueller Industries stock traded up $0.43 during midday trading on Friday, reaching $119.28. The company’s stock had a trading volume of 391,636 shares, compared to its average volume of 896,773. The business has a 50-day simple moving average of $121.75 and a 200-day simple moving average of $107.35. The company has a market cap of $13.24 billion, a P/E ratio of 17.34 and a beta of 1.03. Mueller Industries, Inc. has a fifty-two week low of $66.84 and a fifty-two week high of $139.29.

Institutional Investors Weigh In On Mueller Industries

A number of hedge funds have recently made changes to their positions in MLI. AQR Capital Management LLC raised its position in shares of Mueller Industries by 181.4% during the 3rd quarter. AQR Capital Management LLC now owns 2,585,693 shares of the industrial products company’s stock worth $261,439,000 after buying an additional 1,666,891 shares in the last quarter. Norges Bank acquired a new stake in Mueller Industries in the 2nd quarter valued at about $127,287,000. UBS Group AG boosted its position in shares of Mueller Industries by 837.0% during the 3rd quarter. UBS Group AG now owns 1,283,943 shares of the industrial products company’s stock valued at $129,819,000 after purchasing an additional 1,146,919 shares in the last quarter. Qube Research & Technologies Ltd acquired a new position in shares of Mueller Industries in the 2nd quarter worth approximately $75,901,000. Finally, Pictet Asset Management Holding SA raised its holdings in shares of Mueller Industries by 4,700.0% in the 4th quarter. Pictet Asset Management Holding SA now owns 708,099 shares of the industrial products company’s stock worth $81,581,000 after purchasing an additional 693,347 shares in the last quarter. Institutional investors own 94.50% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on MLI. Weiss Ratings reissued a “buy (b)” rating on shares of Mueller Industries in a report on Thursday, January 22nd. Wall Street Zen cut shares of Mueller Industries from a “buy” rating to a “hold” rating in a research note on Saturday, February 7th. One analyst has rated the stock with a Buy rating, According to MarketBeat.com, the stock currently has a consensus rating of “Buy”.

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.