Mueller Industries (NYSE:MLI) Sets New 52-Week High – Should You Buy?

by · The Cerbat Gem

Mueller Industries, Inc. (NYSE:MLI – Get Free Report) shares hit a new 52-week high during trading on Tuesday . The stock traded as high as $84.23 and last traded at $84.09, with a volume of 149521 shares traded. The stock had previously closed at $83.00.

Mueller Industries Trading Down 1.6 %

The firm’s fifty day moving average is $74.13 and its 200 day moving average is $65.47. The stock has a market cap of $10.64 billion, a P/E ratio of 18.46 and a beta of 1.01.

Mueller Industries (NYSE:MLI – Get Free Report) last posted its quarterly earnings data on Tuesday, October 22nd. The industrial products company reported $1.48 earnings per share for the quarter, topping the consensus estimate of $1.32 by $0.16. The business had revenue of $997.80 million during the quarter, compared to analysts’ expectations of $936.00 million. Mueller Industries had a return on equity of 23.25% and a net margin of 16.39%. The business’s quarterly revenue was up 21.7% compared to the same quarter last year.

Insiders Place Their Bets

In other Mueller Industries news, Director John B. Hansen sold 8,000 shares of the company’s stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $67.24, for a total value of $537,920.00. Following the completion of the transaction, the director now owns 95,914 shares of the company’s stock, valued at $6,449,257.36. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other Mueller Industries news, Director John B. Hansen sold 8,000 shares of the business’s stock in a transaction on Friday, August 9th. The shares were sold at an average price of $67.24, for a total value of $537,920.00. Following the sale, the director now owns 95,914 shares of the company’s stock, valued at $6,449,257.36. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Gregory L. Christopher sold 45,000 shares of the firm’s stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $67.73, for a total transaction of $3,047,850.00. Following the transaction, the chief executive officer now directly owns 1,264,311 shares of the company’s stock, valued at $85,631,784.03. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 104,000 shares of company stock worth $7,164,860 in the last ninety days. Insiders own 2.80% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. grew its holdings in shares of Mueller Industries by 0.5% during the first quarter. Vanguard Group Inc. now owns 12,359,057 shares of the industrial products company’s stock worth $666,524,000 after purchasing an additional 59,060 shares during the last quarter. LSV Asset Management grew its holdings in Mueller Industries by 44.1% during the second quarter. LSV Asset Management now owns 2,094,682 shares of the industrial products company’s stock valued at $119,271,000 after purchasing an additional 641,114 shares during the period. Bank of New York Mellon Corp increased its stake in Mueller Industries by 0.7% in the second quarter. Bank of New York Mellon Corp now owns 1,176,468 shares of the industrial products company’s stock valued at $66,988,000 after purchasing an additional 7,756 shares in the last quarter. Fiera Capital Corp acquired a new stake in Mueller Industries in the third quarter worth $35,552,000. Finally, Vest Financial LLC grew its stake in Mueller Industries by 18.2% in the second quarter. Vest Financial LLC now owns 414,417 shares of the industrial products company’s stock valued at $23,597,000 after acquiring an additional 63,828 shares during the period. 94.50% of the stock is owned by institutional investors.

Mueller Industries Company Profile

(Get Free Report)

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.

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