Mueller Industries (NYSE:MLI) Stock Crosses Above 200 Day Moving Average – Should You Sell?

Mueller Industries, Inc. (NYSE:MLI) shares passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $122.07 and traded as high as $136.40. Mueller Industries shares last traded at $132.5180, with a volume of 449,748 shares trading hands.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. Wall Street Zen cut Mueller Industries from a “strong-buy” rating to a “buy” rating in a report on Saturday, May 30th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Mueller Industries in a research report on Tuesday, April 21st. Finally, Northcoast Research cut shares of Mueller Industries from a “buy” rating to a “neutral” rating in a research note on Thursday, May 28th. One equities research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy”.

Mueller Industries Trading Up 1.8%

The company has a market capitalization of $15.24 billion, a price-to-earnings ratio of 18.05 and a beta of 1.09. The stock’s 50 day moving average price is $130.55 and its 200 day moving average price is $122.38.

Mueller Industries shares are scheduled to split before the market opens 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 posted its quarterly earnings results on Tuesday, April 21st. The industrial products company reported $2.16 earnings per share for the quarter, topping the consensus estimate of $1.49 by $0.67. Mueller Industries had a return on equity of 25.97% and a net margin of 19.37%.The firm had revenue of $1.19 billion for the quarter, compared to analyst estimates of $1.10 billion. During the same quarter in the previous year, the firm earned $1.39 EPS. The business’s quarterly revenue was up 19.3% on a year-over-year basis.

Mueller Industries Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 19th. Shareholders of record on Friday, June 5th will be given a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 1.0%. The ex-dividend date of this dividend is Friday, June 5th. Mueller Industries’s dividend payout ratio is 18.32%.

Insider Buying and Selling

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

Hedge Funds Weigh In On Mueller Industries

Hedge funds and other institutional investors have recently bought and sold shares of the business. NewEdge Advisors LLC boosted its stake in shares of Mueller Industries by 10.7% during the 1st quarter. NewEdge Advisors LLC now owns 14,722 shares of the industrial products company’s stock worth $1,121,000 after acquiring an additional 1,420 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in Mueller Industries by 1.5% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 230,671 shares of the industrial products company’s stock valued at $17,563,000 after purchasing an additional 3,316 shares during the last quarter. Acadian Asset Management LLC bought a new position in Mueller Industries during the first quarter worth $524,000. Northwestern Mutual Wealth Management Co. boosted its position in Mueller Industries by 108.8% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 501 shares of the industrial products company’s stock worth $40,000 after purchasing an additional 261 shares during the period. Finally, CW Advisors LLC increased its holdings in shares of Mueller Industries by 4.0% in the second quarter. CW Advisors LLC now owns 3,641 shares of the industrial products company’s stock valued at $289,000 after purchasing an additional 140 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.