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

Mueller Industries (NYSE:MLI) was downgraded by Wall Street Zen from a “buy” rating to a “hold” rating in a note issued to investors on Saturday.

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

Mueller Industries Stock Up 2.5%

Mueller Industries stock opened at $118.10 on Friday. The company has a fifty day simple moving average of $121.16 and a 200-day simple moving average of $106.48. The firm has a market capitalization of $13.11 billion, a price-to-earnings ratio of 17.19 and a beta of 1.03. Mueller Industries has a 52-week low of $66.84 and a 52-week high of $139.29.

Mueller Industries (NYSE:MLI) last announced its quarterly earnings data on Tuesday, February 3rd. The industrial products company reported $1.39 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.67 by ($0.28). Mueller Industries had a net margin of 18.31% and a return on equity of 24.70%. The business had revenue of $962.39 million for the quarter, compared to analysts’ expectations of $928.00 million. During the same period in the prior year, the company posted $1.21 EPS. The firm’s revenue was up 4.2% on a year-over-year basis.

Insider Activity

In related news, Director Scott Jay Goldman sold 4,234 shares of the business’s stock in a transaction dated Tuesday, November 25th. The shares were sold at an average price of $108.64, for a total value of $459,981.76. Following the sale, the director directly 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 2.70% of the company’s stock.

Institutional Investors Weigh In On Mueller Industries

Institutional investors have recently made changes to their positions in the stock. Fifth Third Bancorp boosted its position in shares of Mueller Industries by 2.2% during the 4th quarter. Fifth Third Bancorp now owns 3,485 shares of the industrial products company’s stock worth $400,000 after purchasing an additional 75 shares during the period. US Asset Management LLC lifted its stake in Mueller Industries by 3.5% during the fourth quarter. US Asset Management LLC now owns 2,425 shares of the industrial products company’s stock worth $278,000 after purchasing an additional 81 shares in the last quarter. Aviance Capital Partners LLC lifted its stake in Mueller Industries by 2.3% during the third quarter. Aviance Capital Partners LLC now owns 4,235 shares of the industrial products company’s stock worth $428,000 after purchasing an additional 97 shares in the last quarter. Covestor Ltd boosted its position in shares of Mueller Industries by 5.1% during the third quarter. Covestor Ltd now owns 2,162 shares of the industrial products company’s stock worth $218,000 after buying an additional 105 shares during the period. Finally, UMB Bank n.a. grew its stake in shares of Mueller Industries by 2.2% in the third quarter. UMB Bank n.a. now owns 5,394 shares of the industrial products company’s stock valued at $545,000 after buying an additional 115 shares in the last quarter. 94.50% of the stock is currently owned by institutional investors and hedge funds.

Mueller Industries Company Profile

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.