Mueller Industries (MLI) Lowered to “Sell” at ValuEngine

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Mueller Industries (NYSE:MLI) was downgraded by investment analysts at ValuEngine from a “hold” rating to a “sell” rating in a research report issued on Monday, September 17th.

Shares of MLI stock traded down $0.40 during mid-day trading on Monday, hitting $25.35. 181,184 shares of the stock traded hands, compared to its average volume of 236,376. The firm has a market cap of $1.67 billion, a price-to-earnings ratio of 17.01 and a beta of 1.44. Mueller Industries has a 52-week low of $25.20 and a 52-week high of $37.57. The company has a debt-to-equity ratio of 0.98, a quick ratio of 2.35 and a current ratio of 3.43.

Mueller Industries (NYSE:MLI) last released its quarterly earnings results on Tuesday, July 24th. The industrial products company reported $0.58 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.54 by $0.04. The business had revenue of $662.77 million during the quarter, compared to analyst estimates of $663.41 million. Mueller Industries had a net margin of 3.59% and a return on equity of 16.10%. As a group, equities analysts predict that Mueller Industries will post 1.82 earnings per share for the current fiscal year.

In related news, Director John B. Hansen sold 4,000 shares of the stock in a transaction that occurred on Thursday, July 26th. The shares were sold at an average price of $32.25, for a total value of $129,000.00. Following the completion of the transaction, the director now directly owns 45,607 shares of the company’s stock, valued at approximately $1,470,825.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Anthony Steinriede sold 2,500 shares of the stock in a transaction that occurred on Monday, July 30th. The shares were sold at an average price of $31.96, for a total transaction of $79,900.00. Following the completion of the transaction, the vice president now directly owns 9,669 shares of the company’s stock, valued at $309,021.24. The disclosure for this sale can be found here. Insiders sold a total of 9,500 shares of company stock valued at $306,220 over the last ninety days. 2.80% of the stock is currently owned by insiders.

Several institutional investors have recently made changes to their positions in the stock. United Services Automobile Association raised its position in shares of Mueller Industries by 20.8% in the 2nd quarter. United Services Automobile Association now owns 610,378 shares of the industrial products company’s stock valued at $18,012,000 after purchasing an additional 105,240 shares during the last quarter. Northern Trust Corp raised its position in shares of Mueller Industries by 1.7% in the 2nd quarter. Northern Trust Corp now owns 771,435 shares of the industrial products company’s stock valued at $22,765,000 after purchasing an additional 13,137 shares during the last quarter. Bank of New York Mellon Corp raised its position in shares of Mueller Industries by 1.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 827,959 shares of the industrial products company’s stock valued at $24,434,000 after purchasing an additional 10,289 shares during the last quarter. California Public Employees Retirement System raised its position in shares of Mueller Industries by 7.5% in the 2nd quarter. California Public Employees Retirement System now owns 182,154 shares of the industrial products company’s stock valued at $5,375,000 after purchasing an additional 12,705 shares during the last quarter. Finally, Gamco Investors INC. ET AL increased its holdings in Mueller Industries by 8.3% in the 2nd quarter. Gamco Investors INC. ET AL now owns 4,354,787 shares of the industrial products company’s stock worth $128,510,000 after buying an additional 333,902 shares during the period. 91.97% of the stock is 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, 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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