Mueller Industries, Inc. (NYSE:MLI) was downgraded by stock analysts at BidaskClub from a “hold” rating to a “sell” rating in a report released on Friday.

Mueller Industries (NYSE MLI) traded down 0.10% during midday trading on Friday, hitting $28.69. 108,801 shares of the stock traded hands. Mueller Industries has a 12 month low of $27.72 and a 12 month high of $43.96. The company has a 50-day moving average of $30.39 and a 200-day moving average of $33.14. The stock has a market cap of $1.65 billion, a PE ratio of 16.38 and a beta of 1.37.

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In related news, Director John B. Hansen sold 2,000 shares of Mueller Industries stock in a transaction dated Monday, July 31st. The stock was sold at an average price of $31.05, for a total transaction of $62,100.00. Following the completion of the sale, the director now owns 45,607 shares of the company’s stock, valued at $1,416,097.35. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 2.79% of the company’s stock.

Large investors have recently added to or reduced their stakes in the company. Bank of America Corp DE increased its stake in Mueller Industries by 34.0% in the first quarter. Bank of America Corp DE now owns 202,186 shares of the industrial products company’s stock worth $6,921,000 after buying an additional 51,294 shares during the period. Paloma Partners Management Co bought a new position in shares of Mueller Industries during the first quarter valued at $486,000. Mason Street Advisors LLC boosted its position in shares of Mueller Industries by 7.4% in the first quarter. Mason Street Advisors LLC now owns 13,470 shares of the industrial products company’s stock valued at $461,000 after buying an additional 932 shares in the last quarter. State of Alaska Department of Revenue boosted its position in shares of Mueller Industries by 2.1% in the first quarter. State of Alaska Department of Revenue now owns 6,360 shares of the industrial products company’s stock valued at $217,000 after buying an additional 130 shares in the last quarter. Finally, Louisiana State Employees Retirement System boosted its position in shares of Mueller Industries by 1.7% in the first quarter. Louisiana State Employees Retirement System now owns 23,500 shares of the industrial products company’s stock valued at $804,000 after buying an additional 400 shares in the last quarter. 90.47% of the stock is owned by hedge funds and other institutional investors.

About Mueller Industries

Mueller Industries, Inc is a manufacturer of copper, brass, aluminum and plastic products. The Company operates through three segments: Piping Systems, Industrial Metals and Climate. The Company’s products include copper tube and fittings; line sets; brass and copper alloy rod, bar, and shapes; aluminum and brass forgings; aluminum impact extrusions; plastic fittings and valves; refrigeration valves and fittings; fabricated tubular products, and steel nipples.

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