Mueller Industries, Inc. (NYSE:MLI) Director Gennaro J. Fulvio sold 10,383 shares of the company’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $26.62, for a total transaction of $276,395.46. Following the completion of the transaction, the director now owns 2,000 shares of the company’s stock, valued at approximately $53,240. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.
Shares of NYSE:MLI traded down $0.26 during trading on Thursday, reaching $26.33. The company had a trading volume of 823 shares, compared to its average volume of 309,051. The firm’s fifty day moving average is $28.22 and its 200 day moving average is $29.77. The firm has a market capitalization of $1.54 billion, a PE ratio of 14.15 and a beta of 1.35. Mueller Industries, Inc. has a twelve month low of $21.49 and a twelve month high of $34.24. The company has a debt-to-equity ratio of 0.83, a quick ratio of 1.91 and a current ratio of 3.24.
Mueller Industries (NYSE:MLI) last issued its quarterly earnings results on Tuesday, July 23rd. The industrial products company reported $0.58 earnings per share for the quarter, topping analysts’ consensus estimates of $0.51 by $0.07. The company had revenue of $666.93 million during the quarter. Mueller Industries had a net margin of 3.66% and a return on equity of 19.00%. The company’s revenue was up .6% on a year-over-year basis. During the same period in the prior year, the company posted $0.58 earnings per share. Equities analysts predict that Mueller Industries, Inc. will post 1.52 earnings per share for the current fiscal year.
Several large investors have recently modified their holdings of the company. Bank of America Corp DE raised its holdings in shares of Mueller Industries by 54.6% during the fourth quarter. Bank of America Corp DE now owns 136,284 shares of the industrial products company’s stock valued at $3,184,000 after acquiring an additional 48,130 shares during the last quarter. Norges Bank acquired a new position in shares of Mueller Industries during the fourth quarter valued at approximately $17,327,000. Geode Capital Management LLC raised its holdings in shares of Mueller Industries by 8.0% during the fourth quarter. Geode Capital Management LLC now owns 606,533 shares of the industrial products company’s stock valued at $14,168,000 after acquiring an additional 45,128 shares during the last quarter. Meeder Asset Management Inc. raised its holdings in shares of Mueller Industries by 1,191.8% during the first quarter. Meeder Asset Management Inc. now owns 8,203 shares of the industrial products company’s stock valued at $257,000 after acquiring an additional 7,568 shares during the last quarter. Finally, Brinker Capital Inc. acquired a new position in shares of Mueller Industries during the first quarter valued at approximately $326,000. 89.85% of the stock is owned by institutional investors.
MLI has been the subject of several recent analyst reports. Zacks Investment Research upgraded shares of Mueller Industries from a “hold” rating to a “strong-buy” rating and set a $35.00 target price for the company in a research report on Saturday, July 27th. ValuEngine cut shares of Mueller Industries from a “hold” rating to a “sell” rating in a research report on Thursday, August 1st.
Mueller Industries Company Profile
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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