Mueller Industries (NYSE:MLI) Raised to “Strong-Buy” at Wall Street Zen

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

Several other equities research analysts have also recently weighed in on the stock. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Mueller Industries in a research report on Tuesday, April 21st. Northcoast Research lowered shares of Mueller Industries from a “buy” rating to a “neutral” rating in a report on Thursday, May 28th. One research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy”.

Mueller Industries Price Performance

Mueller Industries stock opened at $128.19 on Friday. The stock’s fifty day moving average price is $134.24 and its two-hundred day moving average price is $124.15. Mueller Industries has a one year low of $78.57 and a one year high of $141.90. The firm has a market cap of $14.17 billion, a PE ratio of 16.78 and a beta of 1.09.

Mueller Industries’s stock is going to split on Wednesday, July 1st. The 2-1 split was announced on Monday, June 1st. The newly created shares will be payable to shareholders after the market closes on Tuesday, June 30th.

Mueller Industries (NYSE:MLI) last released its earnings results on Tuesday, April 21st. The industrial products company reported $2.16 earnings per share for the quarter, beating analysts’ consensus estimates of $1.49 by $0.67. The firm had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.10 billion. Mueller Industries had a return on equity of 25.97% and a net margin of 19.37%.The company’s revenue was up 19.3% compared to the same quarter last year. During the same period in the prior year, the company posted $1.39 EPS.

Insiders Place Their Bets

In related news, CEO Gregory L. Christopher sold 103,266 shares of the firm’s stock in a transaction dated Monday, April 27th. The stock was sold at an average price of $137.29, for a total value of $14,177,389.14. Following the sale, the chief executive officer directly owned 804,911 shares of the company’s stock, valued at $110,506,231.19. This trade represents a 11.37% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. 2.30% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Pacer Advisors Inc. boosted its stake in shares of Mueller Industries by 37.3% in the 1st quarter. Pacer Advisors Inc. now owns 18,501 shares of the industrial products company’s stock valued at $2,050,000 after purchasing an additional 5,027 shares in the last quarter. NewEdge Advisors LLC increased its position in Mueller Industries by 10.5% during the 1st quarter. NewEdge Advisors LLC now owns 22,456 shares of the industrial products company’s stock worth $2,488,000 after purchasing an additional 2,136 shares in the last quarter. Glenmede Trust Co. NA increased its position in Mueller Industries by 4.5% during the 1st quarter. Glenmede Trust Co. NA now owns 13,954 shares of the industrial products company’s stock worth $1,546,000 after purchasing an additional 603 shares in the last quarter. BankChampaign National Association bought a new position in Mueller Industries in the 1st quarter valued at approximately $1,222,000. Finally, Janus Henderson Group PLC lifted its stake in Mueller Industries by 11.6% in the 1st quarter. Janus Henderson Group PLC now owns 676,052 shares of the industrial products company’s stock valued at $74,907,000 after purchasing an additional 70,433 shares during the last quarter. Institutional investors own 94.50% of the company’s stock.

About Mueller Industries

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.