Mueller Industries (NYSE:MLI) Director Sells $116,710.00 in Stock

Mueller Industries, Inc. (NYSE:MLI) Director John Hansen sold 1,000 shares of the business’s stock in a transaction on Monday, February 9th. The shares were sold at an average price of $116.71, for a total transaction of $116,710.00. Following the completion of the transaction, the director directly owned 90,664 shares of the company’s stock, valued at $10,581,395.44. This trade represents a 1.09% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Mueller Industries Stock Performance

MLI stock traded down $1.66 during midday trading on Monday, hitting $116.20. 412,166 shares of the company’s stock were exchanged, compared to its average volume of 873,562. Mueller Industries, Inc. has a one year low of $66.84 and a one year high of $139.29. The company has a market cap of $12.90 billion, a PE ratio of 16.91 and a beta of 1.03. The stock’s fifty day moving average price is $121.16 and its 200-day moving average price is $106.76.

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

Institutional Trading of Mueller Industries

A number of institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. grew its stake in Mueller Industries by 2.5% during the fourth quarter. Vanguard Group Inc. now owns 10,515,780 shares of the industrial products company’s stock worth $1,207,212,000 after buying an additional 260,306 shares in the last quarter. First Trust Advisors LP raised its position in Mueller Industries by 3.0% during the third quarter. First Trust Advisors LP now owns 5,639,162 shares of the industrial products company’s stock valued at $570,176,000 after purchasing an additional 166,218 shares in the last quarter. AQR Capital Management LLC raised its position in Mueller Industries by 181.4% during the third quarter. AQR Capital Management LLC now owns 2,585,693 shares of the industrial products company’s stock valued at $261,439,000 after purchasing an additional 1,666,891 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its stake in Mueller Industries by 4.1% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 2,426,608 shares of the industrial products company’s stock worth $283,452,000 after purchasing an additional 96,440 shares during the last quarter. Finally, LSV Asset Management boosted its holdings in shares of Mueller Industries by 0.9% in the 2nd quarter. LSV Asset Management now owns 1,933,418 shares of the industrial products company’s stock valued at $153,649,000 after purchasing an additional 16,757 shares in the last quarter. 94.50% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on MLI. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Mueller Industries in a research report on Thursday, January 22nd. Wall Street Zen downgraded shares of Mueller Industries from a “buy” rating to a “hold” rating in a research report on Saturday. One analyst has rated the stock with a Buy rating, According to MarketBeat.com, the company 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.