Insider Buying: Mueller Industries, Inc. (MLI) Chairman Purchases 7,000 Shares of Stock

Mueller Industries, Inc. (NYSE:MLI) Chairman Gregory L. Christopher bought 7,000 shares of the stock in a transaction on Thursday, October 25th. The shares were purchased at an average price of $25.50 per share, with a total value of $178,500.00. Following the acquisition, the chairman now owns 452,069 shares in the company, valued at approximately $11,527,759.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

MLI stock traded up $0.17 during trading hours on Friday, reaching $25.12. 9,826 shares of the stock were exchanged, compared to its average volume of 239,574. The stock has a market cap of $1.48 billion, a PE ratio of 16.77 and a beta of 1.44. The company has a current ratio of 3.43, a quick ratio of 2.35 and a debt-to-equity ratio of 0.98. Mueller Industries, Inc. has a 12 month low of $23.32 and a 12 month high of $37.57.

Mueller Industries (NYSE:MLI) last released its earnings results on Tuesday, October 23rd. The industrial products company reported $0.37 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.41 by ($0.04). The firm had revenue of $645.96 million for the quarter, compared to the consensus estimate of $583.39 million. Mueller Industries had a return on equity of 16.10% and a net margin of 3.59%. On average, analysts forecast that Mueller Industries, Inc. will post 1.82 earnings per share for the current fiscal year.



A number of equities analysts have issued reports on MLI shares. ValuEngine cut Mueller Industries from a “hold” rating to a “sell” rating in a report on Monday, September 17th. Boenning Scattergood reiterated a “hold” rating on shares of Mueller Industries in a report on Tuesday. Finally, Zacks Investment Research cut Mueller Industries from a “hold” rating to a “strong sell” rating in a report on Friday.

A number of hedge funds have recently added to or reduced their stakes in the business. United Services Automobile Association increased its holdings in Mueller Industries by 20.8% during the 2nd quarter. United Services Automobile Association now owns 610,378 shares of the industrial products company’s stock worth $18,012,000 after purchasing an additional 105,240 shares in the last quarter. Northern Trust Corp grew its holdings 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 acquiring an additional 13,137 shares in the last quarter. Bank of New York Mellon Corp grew its holdings 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 acquiring an additional 10,289 shares in the last quarter. California Public Employees Retirement System grew its holdings 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 acquiring an additional 12,705 shares in the last quarter. Finally, Gamco Investors INC. ET AL grew its holdings in shares of 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 valued at $128,510,000 after acquiring an additional 333,902 shares in the last quarter. Hedge funds and other institutional investors own 92.96% of the company’s stock.

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.

Featured Story: What is an Initial Public Offering (IPO)?

Insider Buying and Selling by Quarter for Mueller Industries (NYSE:MLI)

Receive News & Ratings for Mueller Industries Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Mueller Industries and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply