Mueller Industries, Inc. (NYSE:MLI) Director Scott Jay Goldman Sells 10,000 Shares

Mueller Industries, Inc. (NYSE:MLI) Director Scott Jay Goldman sold 10,000 shares of the stock in a transaction dated Thursday, February 13th. The stock was sold at an average price of $79.81, for a total value of $798,100.00. Following the sale, the director now directly owns 56,098 shares in the company, valued at $4,477,181.38. This trade represents a 15.13 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

Mueller Industries Trading Up 1.6 %

Mueller Industries stock opened at $80.73 on Friday. The firm’s 50 day simple moving average is $80.33 and its 200 day simple moving average is $77.24. Mueller Industries, Inc. has a 1-year low of $47.46 and a 1-year high of $96.81. The firm 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 results on Tuesday, February 4th. The industrial products company reported $1.21 earnings per share for the quarter, topping the consensus estimate of $1.12 by $0.09. Mueller Industries had a net margin of 16.05% and a return on equity of 22.97%.

Analysts Set New Price Targets

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

Hedge Funds Weigh In On Mueller Industries

Institutional investors have recently added to or reduced their stakes in the business. NewEdge Advisors LLC grew its holdings in shares of Mueller Industries by 10.0% during the fourth quarter. NewEdge Advisors LLC now owns 13,302 shares of the industrial products company’s stock worth $1,056,000 after purchasing an additional 1,212 shares in the last quarter. XTX Topco Ltd lifted its position in Mueller Industries by 7.8% during the fourth quarter. XTX Topco Ltd now owns 12,720 shares of the industrial products company’s stock valued at $1,009,000 after purchasing an additional 919 shares during the last quarter. Barclays PLC grew its stake in Mueller Industries by 32.4% in the 4th quarter. Barclays PLC now owns 261,004 shares of the industrial products company’s stock worth $20,713,000 after buying an additional 63,798 shares in the last quarter. Ameritas Investment Partners Inc. increased its holdings in shares of Mueller Industries by 209.2% in the 4th quarter. Ameritas Investment Partners Inc. now owns 34,356 shares of the industrial products company’s stock worth $2,726,000 after buying an additional 23,245 shares during the last quarter. Finally, Townsquare Capital LLC raised its position in shares of Mueller Industries by 178.6% during the 4th quarter. Townsquare Capital LLC now owns 14,335 shares of the industrial products company’s stock valued at $1,138,000 after buying an additional 9,189 shares in the last quarter. 94.50% of the stock is currently owned by institutional investors.

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.