Zacks: Mueller Industries, Inc. (MLI) Receives Consensus Rating of “Hold” from Brokerages

Shares of Mueller Industries, Inc. (NYSE:MLI) have earned a consensus broker rating score of 3.00 (Hold) from the one analysts that provide coverage for the company, Zacks Investment Research reports. One research analyst has rated the stock with a hold rating.

Zacks has also assigned Mueller Industries an industry rank of 165 out of 255 based on the ratings given to its competitors.

Several brokerages recently issued reports on MLI. Zacks Investment Research raised shares of Mueller Industries from a “strong sell” rating to a “hold” rating in a report on Wednesday, December 26th. TheStreet downgraded shares of Mueller Industries from a “b-” rating to a “c+” rating in a research note on Monday, October 29th. Boenning Scattergood reissued a “hold” rating on shares of Mueller Industries in a research note on Tuesday, October 23rd. Finally, ValuEngine upgraded shares of Mueller Industries from a “sell” rating to a “hold” rating in a report on Tuesday, February 5th.

In related news, Chairman Gregory L. Christopher purchased 4,000 shares of Mueller Industries stock in a transaction dated Monday, November 19th. The stock was bought at an average price of $24.59 per share, for a total transaction of $98,360.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Gary S. Gladstein purchased 3,000 shares of Mueller Industries stock in a transaction dated Tuesday, November 27th. The stock was bought at an average price of $24.00 per share, with a total value of $72,000.00. Following the acquisition, the director now directly owns 110,963 shares of the company’s stock, valued at $2,663,112. The disclosure for this purchase can be found here. In the last 90 days, insiders have purchased 15,600 shares of company stock valued at $381,544. Corporate insiders own 2.80% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in MLI. Jefferies Group LLC bought a new stake in Mueller Industries in the 3rd quarter valued at about $267,000. MetLife Investment Advisors LLC increased its position in shares of Mueller Industries by 56.7% during the third quarter. MetLife Investment Advisors LLC now owns 40,913 shares of the industrial products company’s stock valued at $1,186,000 after buying an additional 14,798 shares during the period. Wells Fargo & Company MN increased its position in shares of Mueller Industries by 3.8% during the third quarter. Wells Fargo & Company MN now owns 2,969,202 shares of the industrial products company’s stock valued at $86,048,000 after buying an additional 107,869 shares during the period. Cambridge Investment Research Advisors Inc. bought a new stake in shares of Mueller Industries during the third quarter valued at about $336,000. Finally, Quantbot Technologies LP bought a new stake in shares of Mueller Industries during the third quarter valued at about $796,000. Institutional investors own 91.75% of the company’s stock.

MLI stock traded up $0.14 during mid-day trading on Monday, reaching $31.66. 146,353 shares of the company’s stock were exchanged, compared to its average volume of 204,080. The company has a market capitalization of $1.82 billion, a P/E ratio of 17.02 and a beta of 1.32. The company has a current ratio of 3.02, a quick ratio of 1.60 and a debt-to-equity ratio of 0.87. Mueller Industries has a 12-month low of $21.49 and a 12-month high of $33.89.

Mueller Industries (NYSE:MLI) last issued its quarterly earnings results on Tuesday, February 5th. The industrial products company reported $0.47 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.22 by $0.25. The company had revenue of $559.09 million for the quarter. Mueller Industries had a return on equity of 18.83% and a net margin of 4.17%. The business’s revenue for the quarter was up 6.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.10 EPS. On average, research analysts predict that Mueller Industries will post 1.9 earnings per share for the current fiscal year.

Mueller Industries Company Profile

Mueller Industries, Inc manufactures and sells copper, brass, aluminum, and plastic products in the United States, the United Kingdom, Canada, Asia, and Mexico. Its Piping Systems segment manufactures copper tubes and fittings, plastic fittings, line sets, and related components for water distribution system, heating system, air-conditioning, and refrigeration applications, as well as drainage, waste, and vent systems.

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