Weiss Ratings Reaffirms Buy (B) Rating for Mueller Industries (NYSE:MLI)

Mueller Industries (NYSE:MLI)‘s stock had its “buy (b)” rating restated by stock analysts at Weiss Ratings in a research report issued to clients and investors on Saturday,Weiss Ratings reports.

Mueller Industries Trading Down 1.2%

Shares of NYSE:MLI opened at $102.98 on Friday. Mueller Industries has a 12 month low of $66.84 and a 12 month high of $106.28. The company has a 50-day moving average price of $98.35 and a 200 day moving average price of $86.08. The company has a market cap of $11.43 billion, a price-to-earnings ratio of 15.37 and a beta of 1.02.

Mueller Industries (NYSE:MLI) last announced its quarterly earnings data on Tuesday, October 21st. The industrial products company reported $1.88 earnings per share for the quarter, missing analysts’ consensus estimates of $1.99 by ($0.11). Mueller Industries had a net margin of 18.10% and a return on equity of 25.02%. The firm had revenue of $1.08 billion during the quarter, compared to analyst estimates of $942.00 million. During the same quarter in the previous year, the business posted $1.48 earnings per share. Mueller Industries’s revenue for the quarter was up 8.0% compared to the same quarter last year.

Insiders Place Their Bets

In other Mueller Industries news, Director John B. Hansen sold 1,000 shares of the company’s stock in a transaction dated Thursday, October 23rd. The shares were sold at an average price of $105.71, for a total transaction of $105,710.00. Following the transaction, the director directly owned 91,664 shares in the company, valued at approximately $9,689,801.44. This represents a 1.08% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 2.70% of the company’s stock.

Institutional Trading of Mueller Industries

Several institutional investors and hedge funds have recently modified their holdings of the business. Wedbush Securities Inc. lifted its holdings in shares of Mueller Industries by 3.9% in the second quarter. Wedbush Securities Inc. now owns 3,545 shares of the industrial products company’s stock valued at $282,000 after purchasing an additional 134 shares in the last quarter. CW Advisors LLC increased its position in shares of Mueller Industries by 4.0% in the second quarter. CW Advisors LLC now owns 3,641 shares of the industrial products company’s stock worth $289,000 after acquiring an additional 140 shares in the last quarter. Total Wealth Planning & Management Inc. increased its position in shares of Mueller Industries by 2.5% in the second quarter. Total Wealth Planning & Management Inc. now owns 5,948 shares of the industrial products company’s stock worth $473,000 after acquiring an additional 144 shares in the last quarter. Contravisory Investment Management Inc. increased its position in shares of Mueller Industries by 6.2% in the second quarter. Contravisory Investment Management Inc. now owns 2,611 shares of the industrial products company’s stock worth $207,000 after acquiring an additional 152 shares in the last quarter. Finally, Golden State Wealth Management LLC increased its position in shares of Mueller Industries by 103.1% in the first quarter. Golden State Wealth Management LLC now owns 331 shares of the industrial products company’s stock worth $25,000 after acquiring an additional 168 shares in the last quarter. Hedge funds and other institutional investors own 94.50% of the company’s stock.

Mueller Industries Company Profile

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.