TheStreet Upgrades Mueller Industries (NYSE:MLI) to B-

Mueller Industries (NYSE:MLI) was upgraded by investment analysts at TheStreet from a “c+” rating to a “b-” rating in a research note issued on Thursday, TheStreetRatingsTable reports.

MLI has been the topic of a number of other reports. Zacks Investment Research lowered shares of Mueller Industries from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, September 25th. ValuEngine downgraded shares of Mueller Industries from a “sell” rating to a “strong sell” rating in a report on Thursday, October 17th.

Mueller Industries stock traded up $0.20 during mid-day trading on Thursday, reaching $31.87. 132,816 shares of the company were exchanged, compared to its average volume of 225,069. The business has a fifty day moving average of $29.24 and a 200 day moving average of $28.44. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.84 and a current ratio of 2.96. The firm has a market cap of $1.79 billion, a P/E ratio of 17.13 and a beta of 1.38. Mueller Industries has a 12-month low of $21.49 and a 12-month high of $34.24.

Mueller Industries (NYSE:MLI) last released its earnings results on Tuesday, October 22nd. The industrial products company reported $0.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.44 by $0.08. Mueller Industries had a return on equity of 20.22% and a net margin of 4.07%. The firm had revenue of $608.60 million for the quarter. During the same period in the previous year, the company earned $0.35 earnings per share. Mueller Industries’s revenue was down 5.8% on a year-over-year basis. Sell-side analysts predict that Mueller Industries will post 1.52 EPS for the current year.

In other Mueller Industries news, Director Gennaro J. Fulvio sold 10,383 shares of the company’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $26.62, for a total value of $276,395.46. Following the sale, the director now owns 2,000 shares of the company’s stock, valued at $53,240. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director John B. Hansen sold 1,500 shares of the company’s stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $30.89, for a total transaction of $46,335.00. Following the completion of the sale, the director now directly owns 44,107 shares in the company, valued at approximately $1,362,465.23. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 46,062 shares of company stock worth $1,397,469. Company insiders own 3.30% of the company’s stock.

A number of hedge funds have recently modified their holdings of MLI. Premier Asset Management LLC acquired a new stake in Mueller Industries during the 2nd quarter valued at $220,000. Creative Planning bought a new position in shares of Mueller Industries in the 2nd quarter worth about $230,000. GABELLI & Co INVESTMENT ADVISERS INC. lifted its position in shares of Mueller Industries by 14.3% in the 2nd quarter. GABELLI & Co INVESTMENT ADVISERS INC. now owns 8,000 shares of the industrial products company’s stock worth $234,000 after buying an additional 1,000 shares during the last quarter. Aperio Group LLC lifted its position in shares of Mueller Industries by 25.4% in the 2nd quarter. Aperio Group LLC now owns 8,170 shares of the industrial products company’s stock worth $239,000 after buying an additional 1,655 shares during the last quarter. Finally, RBF Capital LLC acquired a new stake in shares of Mueller Industries in the 2nd quarter worth about $240,000. 90.79% of the stock is owned by hedge funds and other institutional investors.

Mueller Industries Company Profile

Mueller Industries, Inc engages in the manufacture of copper, brass, aluminum, and plastic products. It operates through the following segments: Piping Systems, Industrial Metals, and Climate. The Piping Systems segment consists of domestic piping systems group, Canadian operations, European operations, trading group, Jiangsu Mueller-Xingrong Copper Industries Limited, and Jungwoo Metal Ind.

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