Mueller Industries (NYSE:MLI) Cut to Hold at Wall Street Zen

Wall Street Zen cut shares of Mueller Industries (NYSE:MLI) from a buy rating to a hold rating in a report issued on Saturday morning.

Separately, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Mueller Industries in a report on Thursday, January 22nd. One equities research analyst has rated the stock with a Buy rating, According to data from MarketBeat, Mueller Industries presently has a consensus rating of “Buy”.

Mueller Industries Stock Down 1.6%

MLI stock opened at $116.02 on Friday. Mueller Industries has a twelve month low of $66.84 and a twelve month high of $139.29. The stock has a market cap of $12.88 billion, a P/E ratio of 16.89 and a beta of 1.03. The business’s 50-day moving average price is $121.29 and its 200-day moving average price is $106.96.

Insiders Place Their Bets

In related news, Director John B. Hansen sold 1,000 shares of the firm’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 approximately $10,581,395.44. This trade represents a 1.09% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Scott Jay Goldman sold 4,234 shares of the business’s stock in a transaction on Tuesday, November 25th. The stock was sold at an average price of $108.64, for a total transaction of $459,981.76. Following the completion of the sale, the director owned 41,745 shares in the company, valued at approximately $4,535,176.80. The trade was a 9.21% decrease in their position. The SEC filing for this sale provides additional information. 2.70% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Mueller Industries

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in MLI. Activest Wealth Management bought a new position in shares of Mueller Industries during the 4th quarter valued at approximately $27,000. JFS Wealth Advisors LLC raised its stake in Mueller Industries by 121.1% during the third quarter. JFS Wealth Advisors LLC now owns 252 shares of the industrial products company’s stock valued at $25,000 after purchasing an additional 138 shares in the last quarter. Cary Street Partners Investment Advisory LLC lifted 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 valued at $31,000 after purchasing an additional 215 shares during the last quarter. Root Financial Partners LLC bought a new position in Mueller Industries during the third quarter valued at $38,000. Finally, Employees Retirement System of Texas purchased a new position in shares of Mueller Industries in the 2nd quarter worth $34,000. 94.50% of the stock is owned by institutional investors.

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.