Insider Selling: Mueller Industries, Inc. (NYSE:MLI) Director Sells $246,650.00 in Stock

Mueller Industries, Inc. (NYSE:MLIGet Free Report) Director John B. Hansen sold 5,000 shares of the stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $49.33, for a total transaction of $246,650.00. Following the completion of the sale, the director now owns 18,000 shares in the company, valued at $887,940. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Mueller Industries Price Performance

MLI stock opened at $49.58 on Monday. The company’s 50 day simple moving average is $46.35 and its 200-day simple moving average is $41.61. The firm has a market capitalization of $5.63 billion, a PE ratio of 9.33 and a beta of 1.10. Mueller Industries, Inc. has a 12 month low of $32.94 and a 12 month high of $49.96.

Analysts Set New Price Targets

MLI has been the topic of several research reports. Northcoast Research reiterated a “neutral” rating on shares of Mueller Industries in a research report on Friday, January 19th. StockNews.com lowered shares of Mueller Industries from a “buy” rating to a “hold” rating in a research report on Monday, January 22nd.

Read Our Latest Analysis on MLI

Hedge Funds Weigh In On Mueller Industries

Institutional investors and hedge funds have recently modified their holdings of the company. Fifth Third Bancorp lifted its stake in shares of Mueller Industries by 124.3% during the fourth quarter. Fifth Third Bancorp now owns 527 shares of the industrial products company’s stock valued at $25,000 after buying an additional 292 shares during the period. Larson Financial Group LLC lifted its stake in shares of Mueller Industries by 100.0% during the fourth quarter. Larson Financial Group LLC now owns 598 shares of the industrial products company’s stock valued at $28,000 after buying an additional 299 shares during the period. Beaird Harris Wealth Management LLC purchased a new position in shares of Mueller Industries during the third quarter valued at approximately $30,000. Montag A & Associates Inc. purchased a new position in shares of Mueller Industries during the fourth quarter valued at approximately $34,000. Finally, Point72 Hong Kong Ltd purchased a new position in shares of Mueller Industries during the second quarter valued at approximately $40,000. Hedge funds and other institutional investors own 94.50% of the company’s stock.

About Mueller Industries

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Mueller Industries, Inc manufactures and sells copper, brass, aluminum, and plastic products in the United States, the United Kingdom, Canada, South Korea, the Middle East, China, and Mexico. It operates through three segments: Piping Systems, Industrial Metals, and Climate. The Piping Systems segment offers copper tubes, fittings, line sets, and pipe nipples; PEX plumbing and radiant systems; and plumbing-related fittings and plastic injection tooling.

Further Reading

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

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