Mueller Industries (NYSE:MLI) Director Sells $116,710.00 in Stock

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

Mueller Industries Trading Up 1.0%

MLI stock opened at $120.44 on Thursday. The firm has a 50 day simple moving average of $121.63 and a 200-day simple moving average of $107.26. The company has a market capitalization of $13.37 billion, a P/E ratio of 17.53 and a beta of 1.03. Mueller Industries, Inc. has a twelve month low of $66.84 and a twelve month high of $139.29.

Wall Street Analyst Weigh In

MLI has been the subject of several recent research reports. Weiss Ratings reiterated a “buy (b)” rating on shares of Mueller Industries in a research note on Thursday, January 22nd. Wall Street Zen downgraded shares of Mueller Industries from a “buy” rating to a “hold” rating in a research report on Saturday, February 7th. One analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, Mueller Industries presently has an average rating of “Buy”.

Institutional Trading of Mueller Industries

Several hedge funds have recently bought and sold shares of the company. JFS Wealth Advisors LLC raised its holdings in shares of Mueller Industries by 121.1% during the third quarter. JFS Wealth Advisors LLC now owns 252 shares of the industrial products company’s stock valued at $25,000 after buying an additional 138 shares during the last quarter. Activest Wealth Management bought a new stake in Mueller Industries during the 4th quarter valued at $27,000. Cary Street Partners Investment Advisory LLC boosted its position in Mueller Industries by 228.7% during the 3rd quarter. Cary Street Partners Investment Advisory LLC now owns 309 shares of the industrial products company’s stock worth $31,000 after acquiring an additional 215 shares during the period. Employees Retirement System of Texas acquired a new position in Mueller Industries during the 2nd quarter worth $34,000. Finally, Root Financial Partners LLC bought a new position in shares of Mueller Industries in the third quarter worth $38,000. 94.50% of the stock is currently owned by institutional investors.

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.