Mueller Industries (NYSE:MLI) Director John Hansen Sells 1,000 Shares

Mueller Industries, Inc. (NYSE:MLI) Director John Hansen sold 1,000 shares of the firm’s stock in a transaction dated Monday, February 9th. The shares were sold at an average price of $116.71, for a total value of $116,710.00. Following the transaction, the director directly owned 90,664 shares in the company, valued at approximately $10,581,395.44. This represents a 1.09% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

Mueller Industries Price Performance

Shares of MLI opened at $116.02 on Tuesday. Mueller Industries, Inc. has a 1 year low of $66.84 and a 1 year high of $139.29. The stock has a 50 day simple moving average of $121.29 and a two-hundred day simple moving average of $106.96. The firm has a market cap of $12.88 billion, a P/E ratio of 16.89 and a beta of 1.03.

Institutional Investors Weigh In On Mueller Industries

A number of large investors have recently made changes to their positions in MLI. Vanguard Group Inc. lifted its stake in Mueller Industries by 2.5% in the fourth quarter. Vanguard Group Inc. now owns 10,515,780 shares of the industrial products company’s stock worth $1,207,212,000 after acquiring an additional 260,306 shares during the period. First Trust Advisors LP raised its holdings in Mueller Industries by 3.0% in the 3rd quarter. First Trust Advisors LP now owns 5,639,162 shares of the industrial products company’s stock worth $570,176,000 after purchasing an additional 166,218 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Mueller Industries by 30.9% in the 4th quarter. Geode Capital Management LLC now owns 2,642,059 shares of the industrial products company’s stock worth $303,359,000 after purchasing an additional 624,210 shares during the period. AQR Capital Management LLC boosted its stake in shares of Mueller Industries by 181.4% during the 3rd quarter. AQR Capital Management LLC now owns 2,585,693 shares of the industrial products company’s stock valued at $261,439,000 after purchasing an additional 1,666,891 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC increased its position in shares of Mueller Industries by 4.1% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 2,426,608 shares of the industrial products company’s stock valued at $283,452,000 after buying an additional 96,440 shares during the period. 94.50% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

MLI has been the subject of a number of recent research reports. Weiss Ratings reissued a “buy (b)” rating on shares of Mueller Industries in a research note on Thursday, January 22nd. Wall Street Zen downgraded Mueller Industries from a “buy” rating to a “hold” rating in a research report on Saturday. One equities research analyst has rated the stock with a Buy rating, According to MarketBeat, Mueller Industries currently has a consensus rating of “Buy”.

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.