Mueller Industries, Inc. (NYSE:MLI) Director Sells $798,100.00 in Stock

Mueller Industries, Inc. (NYSE:MLI) Director Scott Jay Goldman sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, February 13th. The stock was sold at an average price of $79.81, for a total value of $798,100.00. Following the completion of the sale, the director now owns 56,098 shares of the company’s stock, valued at $4,477,181.38. The trade was a 15.13 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Mueller Industries Stock Up 1.6 %

Mueller Industries stock opened at $80.73 on Friday. The firm has a fifty day simple moving average of $80.33 and a two-hundred day simple moving average of $77.24. Mueller Industries, Inc. has a twelve month low of $47.46 and a twelve month high of $96.81. The company has a market capitalization of $9.18 billion, a PE ratio of 15.20 and a beta of 0.98.

Mueller Industries (NYSE:MLI) last released its quarterly earnings data on Tuesday, February 4th. The industrial products company reported $1.21 EPS for the quarter, topping the consensus estimate of $1.12 by $0.09. Mueller Industries had a return on equity of 22.97% and a net margin of 16.05%.

Analyst Upgrades and Downgrades

Separately, Northcoast Research raised shares of Mueller Industries from a “neutral” rating to a “buy” rating and set a $105.00 price target on the stock in a research note on Wednesday, December 11th.

Institutional Trading of Mueller Industries

Several hedge funds and other institutional investors have recently bought and sold shares of MLI. State Street Corp grew its holdings in shares of Mueller Industries by 3.2% in the third quarter. State Street Corp now owns 4,451,143 shares of the industrial products company’s stock worth $329,830,000 after purchasing an additional 139,406 shares during the last quarter. Invesco Ltd. boosted its position in Mueller Industries by 50.3% during the 4th quarter. Invesco Ltd. now owns 2,788,607 shares of the industrial products company’s stock valued at $221,304,000 after buying an additional 933,498 shares during the period. Geode Capital Management LLC grew its holdings in Mueller Industries by 4.5% in the 4th quarter. Geode Capital Management LLC now owns 2,705,588 shares of the industrial products company’s stock worth $214,763,000 after acquiring an additional 117,327 shares during the last quarter. William Blair Investment Management LLC purchased a new position in shares of Mueller Industries in the fourth quarter valued at about $201,376,000. Finally, FMR LLC increased its position in shares of Mueller Industries by 79.2% in the fourth quarter. FMR LLC now owns 1,911,689 shares of the industrial products company’s stock valued at $151,712,000 after acquiring an additional 845,031 shares during the period. Institutional investors own 94.50% of the company’s stock.

About Mueller Industries

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.