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

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

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

Mueller Industries Stock Performance

Shares of MLI opened at $118.10 on Friday. The company’s 50-day simple moving average is $121.16 and its 200-day simple moving average is $106.48. Mueller Industries has a 1 year low of $66.84 and a 1 year high of $139.29. The stock has a market capitalization of $13.11 billion, a PE ratio of 17.19 and a beta of 1.03.

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

Insiders Place Their Bets

In other Mueller Industries news, Director Scott Jay Goldman sold 4,234 shares of the firm’s stock in a transaction that occurred on Tuesday, November 25th. The shares were sold at an average price of $108.64, for a total transaction of $459,981.76. Following the sale, the director owned 41,745 shares of the company’s stock, valued at approximately $4,535,176.80. This trade represents a 9.21% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 2.70% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Fifth Third Bancorp lifted its position in Mueller Industries by 2.2% in the fourth quarter. Fifth Third Bancorp now owns 3,485 shares of the industrial products company’s stock valued at $400,000 after acquiring an additional 75 shares during the last quarter. US Asset Management LLC grew its holdings in shares of 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 during the last quarter. Aviance Capital Partners LLC increased its position in shares of 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 lifted its holdings in shares of Mueller Industries by 5.1% in the 3rd quarter. Covestor Ltd now owns 2,162 shares of the industrial products company’s stock valued at $218,000 after purchasing an additional 105 shares during the last quarter. Finally, UMB Bank n.a. lifted its holdings in shares of Mueller Industries by 2.2% in the 3rd quarter. UMB Bank n.a. now owns 5,394 shares of the industrial products company’s stock valued at $545,000 after purchasing an additional 115 shares during the last quarter. 94.50% of the stock is owned by hedge funds and other institutional investors.

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.