Mueller Industries (NYSE:MLI) was upgraded by research analysts at TheStreet from a “c+” rating to a “b-” rating in a note issued to investors on Thursday, TheStreetRatingsTable reports.
MLI has been the topic of several other research reports. ValuEngine downgraded shares of Mueller Industries from a “sell” rating to a “strong sell” rating in a report on Thursday, October 17th. Zacks Investment Research lowered shares of Mueller Industries from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, September 25th.
MLI traded up $0.20 on Thursday, reaching $31.87. The company had a trading volume of 132,816 shares, compared to its average volume of 225,069. Mueller Industries has a 1 year low of $21.49 and a 1 year high of $34.24. The stock has a market capitalization of $1.79 billion, a PE ratio of 17.13 and a beta of 1.38. The company has a quick ratio of 1.84, a current ratio of 2.96 and a debt-to-equity ratio of 0.73. The stock has a 50-day moving average price of $29.24 and a 200-day moving average price of $28.44.
Mueller Industries (NYSE:MLI) last issued its quarterly earnings results on Tuesday, October 22nd. The industrial products company reported $0.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.44 by $0.08. Mueller Industries had a net margin of 4.07% and a return on equity of 20.22%. The business had revenue of $608.60 million for the quarter. During the same quarter last year, the firm earned $0.35 earnings per share. The company’s revenue was down 5.8% compared to the same quarter last year. As a group, analysts expect that Mueller Industries will post 1.52 earnings per share for the current fiscal year.
In other news, Director John B. Hansen sold 1,500 shares of Mueller Industries stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $30.89, for a total value of $46,335.00. Following the transaction, the director now owns 44,107 shares of the company’s stock, valued at approximately $1,362,465.23. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Gregory L. Christopher sold 14,992 shares of Mueller Industries stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $32.01, for a total transaction of $479,893.92. Following the completion of the transaction, the chief executive officer now directly owns 532,666 shares in the company, valued at approximately $17,050,638.66. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 46,062 shares of company stock worth $1,397,469. Insiders own 3.30% of the company’s stock.
Hedge funds have recently bought and sold shares of the stock. Premier Asset Management LLC acquired a new stake in shares of Mueller Industries during the second quarter worth approximately $220,000. Creative Planning bought a new position in shares of Mueller Industries in the second quarter valued at approximately $230,000. GABELLI & Co INVESTMENT ADVISERS INC. raised its position in shares of Mueller Industries by 14.3% in the second quarter. GABELLI & Co INVESTMENT ADVISERS INC. now owns 8,000 shares of the industrial products company’s stock valued at $234,000 after purchasing an additional 1,000 shares during the period. Aperio Group LLC increased its position in Mueller Industries by 25.4% during the second quarter. Aperio Group LLC now owns 8,170 shares of the industrial products company’s stock worth $239,000 after acquiring an additional 1,655 shares during the period. Finally, RBF Capital LLC bought a new position in Mueller Industries during the second quarter worth $240,000. Institutional investors and hedge funds own 90.79% of the company’s stock.
About Mueller Industries
Mueller Industries, Inc engages in the manufacture of copper, brass, aluminum, and plastic products. It operates through the following segments: Piping Systems, Industrial Metals, and Climate. The Piping Systems segment consists of domestic piping systems group, Canadian operations, European operations, trading group, Jiangsu Mueller-Xingrong Copper Industries Limited, and Jungwoo Metal Ind.
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