Mueller Industries (MLI) Stock Rating Upgraded by ValuEngine

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ValuEngine upgraded shares of Mueller Industries (NYSE:MLI) from a sell rating to a hold rating in a research report sent to investors on Tuesday.

MLI has been the topic of a number of other reports. Boenning Scattergood reissued a hold rating on shares of Mueller Industries in a research note on Tuesday, October 23rd. Zacks Investment Research downgraded shares of Mueller Industries from a hold rating to a strong sell rating in a research note on Friday, October 26th. Finally, TheStreet downgraded shares of Mueller Industries from a b- rating to a c+ rating in a research note on Monday, October 29th.

Shares of MLI stock opened at $31.52 on Tuesday. The company has a current ratio of 3.02, a quick ratio of 1.83 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. The stock has a market cap of $1.82 billion, a price-to-earnings ratio of 16.95 and a beta of 1.32.

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

In related news, Chairman Gregory L. Christopher purchased 4,000 shares of Mueller Industries stock in a transaction dated Monday, November 19th. The shares were acquired at an average cost of $24.59 per share, with a total value of $98,360.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Gary Westermeyer purchased 2,000 shares of Mueller Industries stock in a transaction dated Monday, November 26th. The stock was bought at an average cost of $23.95 per share, for a total transaction of $47,900.00. Following the completion of the purchase, the insider now directly owns 24,292 shares in the company, valued at approximately $581,793.40. The disclosure for this purchase can be found here. Insiders bought a total of 15,600 shares of company stock worth $381,544 over the last three months. Insiders own 2.80% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in the company. Quantamental Technologies LLC purchased a new stake in Mueller Industries during the 4th quarter worth approximately $97,000. BlueMountain Capital Management LLC increased its stake in Mueller Industries by 111.3% during the 3rd quarter. BlueMountain Capital Management LLC now owns 5,446 shares of the industrial products company’s stock worth $158,000 after buying an additional 2,869 shares during the period. Capital Fund Management S.A. purchased a new stake in Mueller Industries during the 3rd quarter worth approximately $203,000. First Republic Investment Management Inc. purchased a new stake in Mueller Industries during the 3rd quarter worth approximately $209,000. Finally, GSA Capital Partners LLP purchased a new stake in Mueller Industries during the 3rd quarter worth approximately $228,000. 90.40% of the stock is currently owned by institutional investors and hedge funds.

About Mueller Industries

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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