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 company’s stock in a transaction on Thursday, February 13th. The stock was sold at an average price of $79.81, for a total transaction of $798,100.00. Following the transaction, the director now owns 56,098 shares in the company, valued at approximately $4,477,181.38. The trade was a 15.13 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Mueller Industries Trading Up 0.8 %

NYSE MLI opened at $81.23 on Friday. The business has a fifty day simple moving average of $80.38 and a 200 day simple moving average of $77.37. Mueller Industries, Inc. has a 12 month low of $47.46 and a 12 month high of $96.81. The firm has a market capitalization of $9.24 billion, a P/E ratio of 15.30 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%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of MLI. New York State Common Retirement Fund raised its stake in shares of Mueller Industries by 20.4% during the 3rd quarter. New York State Common Retirement Fund now owns 405,618 shares of the industrial products company’s stock worth $30,056,000 after purchasing an additional 68,633 shares during the period. State Street Corp boosted its stake in Mueller Industries by 3.2% in the third quarter. State Street Corp now owns 4,451,143 shares of the industrial products company’s stock valued at $329,830,000 after acquiring an additional 139,406 shares during the last quarter. Farther Finance Advisors LLC grew its position in shares of Mueller Industries by 1,322.6% during the 3rd quarter. Farther Finance Advisors LLC now owns 8,436 shares of the industrial products company’s stock valued at $625,000 after acquiring an additional 7,843 shares during the period. Flagship Harbor Advisors LLC bought a new stake in shares of Mueller Industries in the 4th quarter worth approximately $300,000. Finally, Merit Financial Group LLC purchased a new position in Mueller Industries in the fourth quarter valued at approximately $287,000. Hedge funds and other institutional investors own 94.50% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Northcoast Research raised shares of 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.

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.