Scott Jay Goldman Sells 10,000 Shares of Mueller Industries, Inc. (NYSE:MLI) Stock

Mueller Industries, Inc. (NYSE:MLI) Director Scott Jay Goldman sold 10,000 shares of the company’s stock in a transaction dated Thursday, February 13th. The stock was sold at an average price of $79.81, for a total value of $798,100.00. Following the completion of the transaction, the director now directly owns 56,098 shares of the company’s stock, valued at approximately $4,477,181.38. This trade represents a 15.13 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Mueller Industries Trading Up 1.8 %

MLI traded up $1.46 during trading on Thursday, hitting $80.88. 323,866 shares of the company traded hands, compared to its average volume of 717,459. The company has a market cap of $9.20 billion, a PE ratio of 15.23 and a beta of 0.98. The stock’s 50-day simple moving average is $80.30 and its two-hundred day simple moving average is $77.21. Mueller Industries, Inc. has a 1 year low of $47.46 and a 1 year high of $96.81.

Mueller Industries (NYSE:MLI) last issued its earnings results on Tuesday, February 4th. The industrial products company reported $1.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.12 by $0.09. Mueller Industries had a return on equity of 22.97% and a net margin of 16.05%.

Hedge Funds Weigh In On Mueller Industries

Large investors have recently modified their holdings of the stock. Sterling Capital Management LLC boosted its stake in shares of Mueller Industries by 2.3% during the fourth quarter. Sterling Capital Management LLC now owns 10,891 shares of the industrial products company’s stock valued at $864,000 after purchasing an additional 240 shares during the period. Capital Fund Management S.A. lifted its holdings in Mueller Industries by 84.6% during the 4th quarter. Capital Fund Management S.A. now owns 25,822 shares of the industrial products company’s stock valued at $2,049,000 after buying an additional 11,836 shares in the last quarter. Scotia Capital Inc. boosted its position in Mueller Industries by 11.1% in the 4th quarter. Scotia Capital Inc. now owns 9,074 shares of the industrial products company’s stock valued at $720,000 after buying an additional 906 shares during the period. Raymond James Financial Inc. bought a new position in Mueller Industries in the 4th quarter worth about $6,855,000. Finally, Texas Yale Capital Corp. increased its position in shares of Mueller Industries by 6.0% during the fourth quarter. Texas Yale Capital Corp. now owns 3,560 shares of the industrial products company’s stock worth $283,000 after acquiring an additional 200 shares during the period. Institutional investors own 94.50% of the company’s stock.

Analyst Ratings Changes

Separately, Northcoast Research upgraded Mueller Industries from a “neutral” rating to a “buy” rating and set a $105.00 price target for the company in a research note on Wednesday, December 11th.

Mueller Industries Company Profile

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.