Mueller Industries (NYSE:MLI) Lowered to Hold Rating by Wall Street Zen

Wall Street Zen lowered shares of Mueller Industries (NYSE:MLI) from a buy rating to a hold rating in a research report sent to investors on Saturday.

Separately, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Mueller Industries in a research report on Thursday, January 22nd. One investment analyst has rated the stock with a Buy rating, According to data from MarketBeat, Mueller Industries has an average rating of “Buy”.

Mueller Industries Price Performance

MLI stock opened at $118.10 on Friday. The business’s 50-day moving average is $121.16 and its two-hundred day moving average is $106.62. Mueller Industries has a 1 year low of $66.84 and a 1 year high of $139.29. The firm has a market capitalization of $13.11 billion, a P/E ratio of 17.19 and a beta of 1.03.

Mueller Industries (NYSE:MLI) last issued its quarterly earnings results on Tuesday, February 3rd. The industrial products company reported $1.39 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.67 by ($0.28). Mueller Industries had a return on equity of 24.70% and a net margin of 18.31%.The firm had revenue of $962.39 million during the quarter, compared to analysts’ expectations of $928.00 million. During the same quarter in the prior year, the firm earned $1.21 EPS. The firm’s revenue was up 4.2% compared to the same quarter last year.

Insider Activity

In other Mueller Industries news, Director Scott Jay Goldman sold 4,234 shares of the firm’s stock in a transaction dated Tuesday, November 25th. The stock was sold at an average price of $108.64, for a total transaction of $459,981.76. Following the transaction, the director owned 41,745 shares of the company’s stock, valued at approximately $4,535,176.80. This trade represents a 9.21% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 2.70% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in MLI. NewEdge Advisors LLC grew its position in shares of Mueller Industries by 10.7% during the first quarter. NewEdge Advisors LLC now owns 14,722 shares of the industrial products company’s stock worth $1,121,000 after acquiring an additional 1,420 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in Mueller Industries by 1.5% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 230,671 shares of the industrial products company’s stock worth $17,563,000 after purchasing an additional 3,316 shares during the period. Acadian Asset Management LLC purchased a new position in Mueller Industries during the 1st quarter worth $524,000. Janney Montgomery Scott LLC increased its stake in Mueller Industries by 21.3% in the second quarter. Janney Montgomery Scott LLC now owns 24,927 shares of the industrial products company’s stock valued at $1,981,000 after purchasing an additional 4,370 shares during the period. Finally, Maryland State Retirement & Pension System purchased a new stake in shares of Mueller Industries in the second quarter valued at about $419,000. Hedge funds and other institutional investors own 94.50% of the company’s stock.

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.