Mueller Industries (NYSE:MLI) Sets New 12-Month High at $50.11

Mueller Industries, Inc. (NYSE:MLIGet Free Report) shares reached a new 52-week high during mid-day trading on Monday . The company traded as high as $50.11 and last traded at $50.04, with a volume of 178310 shares trading hands. The stock had previously closed at $49.58.

Analyst Ratings Changes

Several research analysts have commented on the company. Northcoast Research reaffirmed a “neutral” rating on shares of Mueller Industries in a report on Friday, January 19th. StockNews.com downgraded Mueller Industries from a “buy” rating to a “hold” rating in a report on Monday, January 22nd.

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Mueller Industries Stock Performance

The stock has a market capitalization of $5.71 billion, a price-to-earnings ratio of 9.33 and a beta of 1.10. The company has a fifty day simple moving average of $46.35 and a 200 day simple moving average of $41.61.

Insider Activity

In other news, CFO Jeffrey Andrew Martin sold 47,280 shares of the business’s stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $49.25, for a total value of $2,328,540.00. Following the transaction, the chief financial officer now directly owns 370,840 shares of the company’s stock, valued at approximately $18,263,870. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Mueller Industries news, insider Steffen Sigloch sold 53,792 shares of the stock in a transaction that occurred on Tuesday, December 26th. The stock was sold at an average price of $47.59, for a total value of $2,559,961.28. Following the transaction, the insider now owns 212,882 shares in the company, valued at $10,131,054.38. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Jeffrey Andrew Martin sold 47,280 shares of the stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $49.25, for a total value of $2,328,540.00. Following the completion of the transaction, the chief financial officer now owns 370,840 shares in the company, valued at approximately $18,263,870. The disclosure for this sale can be found here. Insiders have sold 164,602 shares of company stock valued at $7,775,459 in the last ninety days. 2.80% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Westfield Capital Management Co. LP boosted its holdings in Mueller Industries by 114.6% in the fourth quarter. Westfield Capital Management Co. LP now owns 159,130 shares of the industrial products company’s stock worth $7,503,000 after acquiring an additional 84,988 shares in the last quarter. Nomura Asset Management Co. Ltd. raised its stake in shares of Mueller Industries by 100.0% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 1,000 shares of the industrial products company’s stock worth $47,000 after purchasing an additional 500 shares during the last quarter. Orion Portfolio Solutions LLC raised its stake in shares of Mueller Industries by 130.7% in the fourth quarter. Orion Portfolio Solutions LLC now owns 32,605 shares of the industrial products company’s stock worth $1,500,000 after purchasing an additional 18,472 shares during the last quarter. SageView Advisory Group LLC purchased a new stake in shares of Mueller Industries in the fourth quarter worth approximately $837,000. Finally, US Bancorp DE raised its stake in shares of Mueller Industries by 661.9% in the fourth quarter. US Bancorp DE now owns 17,380 shares of the industrial products company’s stock worth $819,000 after purchasing an additional 15,099 shares during the last quarter. Institutional investors own 94.50% of the company’s stock.

Mueller Industries Company Profile

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Mueller Industries, Inc manufactures and sells copper, brass, aluminum, and plastic products in the United States, the United Kingdom, Canada, South Korea, the Middle East, China, and Mexico. It operates through three segments: Piping Systems, Industrial Metals, and Climate. The Piping Systems segment offers copper tubes, fittings, line sets, and pipe nipples; PEX plumbing and radiant systems; and plumbing-related fittings and plastic injection tooling.

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