Mueller Industries (NYSE:MLI) Director Sells $110,800.00 in Stock

Mueller Industries, Inc. (NYSE:MLI) Director John Hansen sold 2,000 shares of the firm’s stock in a transaction on Monday, November 2nd. The shares were sold at an average price of $55.40, for a total transaction of $110,800.00. Following the completion of the transaction, the director directly owned 179,078 shares of the company’s stock, valued at $9,920,921.20. This represents a 1.10% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Mueller Industries Trading Down 0.7%

Shares of NYSE MLI opened at $55.17 on Thursday. The firm has a market cap of $12.03 billion, a P/E ratio of 14.15 and a beta of 1.01. Mueller Industries, Inc. has a 1-year low of $52.00 and a 1-year high of $71.12. The business’s 50 day moving average is $59.92 and its 200-day moving average is $62.12.

Mueller Industries (NYSE:MLI) last posted its quarterly earnings data on Tuesday, October 20th. The industrial products company reported $1.00 earnings per share for the quarter, missing the consensus estimate of $1.08 by ($0.08). Mueller Industries had a return on equity of 25.23% and a net margin of 17.26%. The firm had revenue of $1.42 billion for the quarter, compared to the consensus estimate of $1.28 billion. During the same quarter in the previous year, the business earned $1.88 EPS. The firm’s quarterly revenue was up 31.6% on a year-over-year basis.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in MLI. Lido Advisors LLC grew its stake in shares of Mueller Industries by 98.5% during the 3rd quarter. Lido Advisors LLC now owns 32,618 shares of the industrial products company’s stock worth $1,977,000 after purchasing an additional 16,183 shares during the period. Narwhal Capital Management boosted its stake in Mueller Industries by 78.2% during the 3rd quarter. Narwhal Capital Management now owns 93,543 shares of the industrial products company’s stock worth $5,670,000 after purchasing an additional 41,062 shares during the last quarter. D Orazio & Associates Inc. boosted its stake in Mueller Industries by 97.9% during the third quarter. D Orazio & Associates Inc. now owns 8,406 shares of the industrial products company’s stock worth $509,000 after buying an additional 4,158 shares during the last quarter. Gen Wealth Partners Inc acquired a new stake in shares of Mueller Industries during the 3rd quarter worth approximately $36,000. Finally, Ballast Asset Management LP lifted its stake in shares of Mueller Industries by 49.3% in the 3rd quarter. Ballast Asset Management LP now owns 71,734 shares of the industrial products company’s stock valued at $4,348,000 after purchasing an additional 23,701 shares during the last quarter. Hedge funds and other institutional investors own 94.50% of the company’s stock.

Wall Street Analyst Weigh In

MLI has been the topic of a number of recent research reports. Weiss Ratings restated a “buy (b)” rating on shares of Mueller Industries in a research note on Thursday, October 15th. Northcoast Research raised Mueller Industries from a “neutral” rating to a “buy” rating and set a $75.00 price target for the company in a research note on Thursday, July 16th. Wall Street Zen upgraded shares of Mueller Industries from a “hold” rating to a “buy” rating in a research report on Sunday. Finally, Freedom Broker lowered their price objective on shares of Mueller Industries from $80.00 to $76.00 and set a “buy” rating for the company in a research report on Thursday, October 22nd. Three research analysts have rated the stock with a Buy rating. Based on data from MarketBeat, the company has a consensus rating of “Buy” and an average target price of $75.50.

Mueller Industries Company Profile

Mueller Industries, Inc is a manufacturer of metal and plastic products used in plumbing, heating, ventilation, air conditioning, refrigeration, fire protection, water distribution, and industrial applications. Its product portfolio includes copper, brass, aluminum, and steel tubing; fittings; valves; copper and plastic piping systems; and related components.

The company sells products primarily through wholesale distributors, original equipment manufacturers, building-supply outlets, and other industrial channels.