Mueller Industries (NYSE:MLI) Upgraded at TheStreet

TheStreet upgraded shares of Mueller Industries (NYSE:MLI) from a c+ rating to a b- rating in a research note released on Thursday morning, TheStreetRatingsTable reports.

Other equities analysts also recently issued research reports about the company. ValuEngine downgraded Mueller Industries from a sell rating to a strong sell rating in a research report on Thursday, October 17th. Zacks Investment Research downgraded Mueller Industries from a strong-buy rating to a hold rating in a research report on Wednesday, September 25th.

NYSE MLI traded up $0.20 during trading on Thursday, reaching $31.87. 132,816 shares of the company’s stock were exchanged, compared to its average volume of 225,069. The business has a 50 day moving average price of $29.24 and a 200-day moving average price of $28.44. The stock has a market capitalization of $1.79 billion, a P/E ratio of 17.13 and a beta of 1.38. The company has a debt-to-equity ratio of 0.73, a current ratio of 2.96 and a quick ratio of 1.84. Mueller Industries has a fifty-two week low of $21.49 and a fifty-two week high of $34.24.

Mueller Industries (NYSE:MLI) last announced its quarterly earnings results on Tuesday, October 22nd. The industrial products company reported $0.52 earnings per share for the quarter, topping analysts’ consensus estimates of $0.44 by $0.08. The firm had revenue of $608.60 million for the quarter. Mueller Industries had a return on equity of 20.22% and a net margin of 4.07%. Mueller Industries’s quarterly revenue was down 5.8% compared to the same quarter last year. During the same period last year, the firm earned $0.35 EPS. On average, analysts forecast that Mueller Industries will post 1.52 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Friday, December 6th will be given a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 1.26%. Mueller Industries’s payout ratio is 21.51%.

In other news, Director Gennaro J. Fulvio sold 10,383 shares of the company’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $26.62, for a total value of $276,395.46. Following the transaction, the director now owns 2,000 shares of the company’s stock, valued at $53,240. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Gregory L. Christopher sold 14,992 shares of the company’s stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $32.01, for a total value of $479,893.92. Following the completion of the transaction, the chief executive officer now directly owns 532,666 shares in the company, valued at approximately $17,050,638.66. The disclosure for this sale can be found here. Insiders sold 46,062 shares of company stock worth $1,397,469 in the last ninety days. 3.30% of the stock is owned by company insiders.

Several hedge funds have recently modified their holdings of MLI. Campbell & CO Investment Adviser LLC bought a new stake in shares of Mueller Industries in the second quarter valued at approximately $268,000. Uncommon Cents Investing LLC boosted its stake in shares of Mueller Industries by 2.7% in the second quarter. Uncommon Cents Investing LLC now owns 40,935 shares of the industrial products company’s stock valued at $1,198,000 after buying an additional 1,075 shares during the period. Oregon Public Employees Retirement Fund boosted its stake in shares of Mueller Industries by 1.8% in the second quarter. Oregon Public Employees Retirement Fund now owns 22,734 shares of the industrial products company’s stock valued at $665,000 after buying an additional 400 shares during the period. Eqis Capital Management Inc. boosted its stake in shares of Mueller Industries by 19.8% in the second quarter. Eqis Capital Management Inc. now owns 9,711 shares of the industrial products company’s stock valued at $284,000 after buying an additional 1,606 shares during the period. Finally, Arizona State Retirement System boosted its stake in shares of Mueller Industries by 0.6% in the second quarter. Arizona State Retirement System now owns 87,839 shares of the industrial products company’s stock valued at $2,571,000 after buying an additional 489 shares during the period. Institutional investors and hedge funds own 90.79% of the company’s stock.

Mueller Industries Company Profile

Mueller Industries, Inc engages in the manufacture of copper, brass, aluminum, and plastic products. It operates through the following segments: Piping Systems, Industrial Metals, and Climate. The Piping Systems segment consists of domestic piping systems group, Canadian operations, European operations, trading group, Jiangsu Mueller-Xingrong Copper Industries Limited, and Jungwoo Metal Ind.

Further Reading: What is the Current Ratio?

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.