Insider Selling: Mueller Industries (NYSE:MLI) Director Sells 1,000 Shares of Stock

Mueller Industries, Inc. (NYSE:MLI) Director John Hansen sold 1,000 shares of the business’s stock in a transaction dated Monday, February 9th. The stock was sold at an average price of $116.71, for a total value of $116,710.00. Following the transaction, the director directly owned 90,664 shares of the company’s stock, valued at approximately $10,581,395.44. The trade was a 1.09% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link.

Mueller Industries Trading Down 1.4%

NYSE:MLI traded down $1.66 on Monday, hitting $116.20. The company had a trading volume of 412,166 shares, compared to its average volume of 873,562. The firm has a 50 day moving average of $121.16 and a two-hundred day moving average of $106.76. Mueller Industries, Inc. has a 52 week low of $66.84 and a 52 week high of $139.29. The stock has a market capitalization of $12.90 billion, a price-to-earnings ratio of 16.91 and a beta of 1.03.

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

Institutional Investors Weigh In On Mueller Industries

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Allied Investment Advisors LLC purchased a new position in shares of Mueller Industries during the fourth quarter valued at approximately $226,000. Clearstead Advisors LLC raised its holdings in shares of Mueller Industries by 221.8% in the 4th quarter. Clearstead Advisors LLC now owns 3,482 shares of the industrial products company’s stock worth $400,000 after purchasing an additional 2,400 shares during the period. New Age Alpha Advisors LLC purchased a new position in shares of Mueller Industries during the 4th quarter valued at $2,067,000. Hantz Financial Services Inc. grew its stake in shares of Mueller Industries by 102.1% during the 4th quarter. Hantz Financial Services Inc. now owns 1,340 shares of the industrial products company’s stock worth $154,000 after acquiring an additional 677 shares during the period. Finally, MQS Management LLC grew its stake in shares of Mueller Industries by 52.9% during the 4th quarter. MQS Management LLC now owns 4,143 shares of the industrial products company’s stock worth $476,000 after acquiring an additional 1,433 shares during the period. 94.50% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities analysts recently issued reports on the stock. Weiss Ratings restated a “buy (b)” rating on shares of Mueller Industries in a 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 equities research analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, Mueller Industries presently has an average rating of “Buy”.

Mueller Industries Company Profile

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.