Mueller Industries (NYSE:MLI) Rating Lowered to Hold at Wall Street Zen
by Michael Walen · The Markets DailyMueller Industries (NYSE:MLI – Get Free Report) was downgraded by stock analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a report issued on Saturday.
Separately, Weiss Ratings restated a “buy (b)” rating on shares of Mueller Industries in a research note on Thursday, January 22nd. One equities research analyst has rated the stock with a Buy rating, According to MarketBeat.com, Mueller Industries currently has a consensus rating of “Buy”.
Read Our Latest Research Report on MLI
Mueller Industries Trading Up 2.5%
Shares of NYSE MLI opened at $118.10 on Friday. The business has a 50 day simple moving average of $121.16 and a 200-day simple moving average of $106.76. Mueller Industries has a twelve month low of $66.84 and a twelve month high of $139.29. The company has a market capitalization of $13.11 billion, a price-to-earnings ratio of 17.19 and a beta of 1.03.
Mueller Industries (NYSE:MLI – Get Free Report) last released its earnings results 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 firm’s revenue for the quarter was up 4.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.21 EPS.
Insiders Place Their Bets
In other Mueller Industries news, Director Scott Jay Goldman sold 4,234 shares of the company’s stock in a transaction dated Tuesday, November 25th. The shares were sold at an average price of $108.64, for a total value of $459,981.76. Following the completion of the sale, the director directly owned 41,745 shares of the company’s stock, valued at approximately $4,535,176.80. This represents a 9.21% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 2.70% of the company’s stock.
Institutional Investors Weigh In On Mueller Industries
A number of large investors have recently made changes to their positions in MLI. JFS Wealth Advisors LLC grew its position in Mueller Industries by 121.1% in the third quarter. JFS Wealth Advisors LLC now owns 252 shares of the industrial products company’s stock worth $25,000 after acquiring an additional 138 shares in the last quarter. Activest Wealth Management acquired a new position in Mueller Industries during the fourth quarter worth $27,000. Cary Street Partners Investment Advisory LLC increased its position in Mueller Industries by 228.7% during the third quarter. Cary Street Partners Investment Advisory LLC now owns 309 shares of the industrial products company’s stock worth $31,000 after buying an additional 215 shares during the last quarter. Employees Retirement System of Texas bought a new position in Mueller Industries during the second quarter valued at about $34,000. Finally, Root Financial Partners LLC acquired a new stake in shares of Mueller Industries in the third quarter worth about $38,000. Institutional investors and hedge funds own 94.50% of the company’s stock.
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.