Mueller Industries, Inc. (NYSE:MLI) Director Sells $798,100.00 in Stock

Mueller Industries, Inc. (NYSE:MLI - Get Free Report) Director Scott Jay Goldman sold 10,000 shares of the stock in a transaction on Thursday, February 13th. The shares were sold at an average price of $79.81, for a total value of $798,100.00. Following the sale, the director now owns 56,098 shares in the company, valued at approximately $4,477,181.38. This trade represents a 15.13 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link.

Mueller Industries Stock Up 0.8 %

Shares of NYSE:MLI traded up $0.61 during trading on Monday, reaching $81.23. The stock had a trading volume of 880,993 shares, compared to its average volume of 729,991. The stock has a market cap of $9.24 billion, a P/E ratio of 15.30 and a beta of 0.98. The business has a fifty day moving average price of $80.44 and a 200-day moving average price of $77.51. Mueller Industries, Inc. has a fifty-two week low of $47.46 and a fifty-two week high of $96.81.

Mueller Industries (NYSE:MLI - Get Free Report) last issued its quarterly earnings results on Tuesday, February 4th. The industrial products company reported $1.21 earnings per share for the quarter, beating the consensus estimate of $1.12 by $0.09. Mueller Industries had a return on equity of 22.97% and a net margin of 16.05%.

Analyst Ratings Changes

Separately, Northcoast Research raised shares of Mueller Industries from a "neutral" rating to a "buy" rating and set a $105.00 target price for the company in a research note on Wednesday, December 11th.

Hedge Funds Weigh In On Mueller Industries

Several large investors have recently added to or reduced their stakes in the business. WBI Investments LLC grew its holdings in Mueller Industries by 858.5% in the 4th quarter. WBI Investments LLC now owns 60,690 shares of the industrial products company's stock valued at $4,816,000 after buying an additional 54,358 shares during the period. Tidal Investments LLC boosted its position in shares of Mueller Industries by 629.6% in the fourth quarter. Tidal Investments LLC now owns 276,102 shares of the industrial products company's stock worth $21,911,000 after acquiring an additional 238,261 shares during the last quarter. Systematic Financial Management LP grew its holdings in Mueller Industries by 0.9% in the fourth quarter. Systematic Financial Management LP now owns 947,650 shares of the industrial products company's stock valued at $75,206,000 after purchasing an additional 8,308 shares during the period. Snowden Capital Advisors LLC increased its position in Mueller Industries by 8.8% during the fourth quarter. Snowden Capital Advisors LLC now owns 3,983 shares of the industrial products company's stock worth $316,000 after purchasing an additional 323 shares during the last quarter. Finally, Shay Capital LLC purchased a new position in Mueller Industries during the fourth quarter worth approximately $1,028,000. 94.50% of the stock is currently owned by hedge funds and other institutional investors.

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.