Mueller Industries, Inc. (MLI) Receives Average Recommendation of “Hold” from Brokerages

Shares of Mueller Industries, Inc. (NYSE:MLI) have been assigned a consensus broker rating score of 3.00 (Hold) from the one analysts that provide coverage for the stock, Zacks Investment Research reports. One investment analyst has rated the stock with a hold recommendation.

Zacks has also assigned Mueller Industries an industry rank of 96 out of 255 based on the ratings given to related companies.

MLI has been the subject of several research reports. Zacks Investment Research raised Mueller Industries from a “strong sell” rating to a “hold” rating in a research note on Wednesday, December 26th. ValuEngine raised Mueller Industries from a “sell” rating to a “hold” rating in a research note on Tuesday, February 5th. Finally, TheStreet raised Mueller Industries from a “c+” rating to a “b” rating in a research note on Wednesday, February 6th.

In other news, Director Scott Jay Goldman sold 1,000 shares of Mueller Industries stock in a transaction on Thursday, February 28th. The stock was sold at an average price of $32.75, for a total value of $32,750.00. Following the completion of the sale, the director now directly owns 10,700 shares of the company’s stock, valued at approximately $350,425. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Gregory L. Christopher sold 50,000 shares of Mueller Industries stock in a transaction on Thursday, February 28th. The shares were sold at an average price of $32.69, for a total value of $1,634,500.00. Following the completion of the sale, the chairman now directly owns 406,069 shares of the company’s stock, valued at $13,274,395.61. The disclosure for this sale can be found here. 3.30% of the stock is currently owned by company insiders.

Institutional investors have recently made changes to their positions in the stock. RBF Capital LLC acquired a new stake in shares of Mueller Industries during the fourth quarter worth $304,000. Morgan Stanley grew its stake in shares of Mueller Industries by 65.4% during the third quarter. Morgan Stanley now owns 234,041 shares of the industrial products company’s stock worth $6,782,000 after purchasing an additional 92,554 shares during the period. California Public Employees Retirement System grew its stake in shares of Mueller Industries by 1.3% during the fourth quarter. California Public Employees Retirement System now owns 179,381 shares of the industrial products company’s stock worth $4,190,000 after purchasing an additional 2,303 shares during the period. Jefferies Group LLC acquired a new stake in shares of Mueller Industries during the third quarter worth $267,000. Finally, MetLife Investment Advisors LLC grew its stake in shares of Mueller Industries by 56.7% during the third quarter. MetLife Investment Advisors LLC now owns 40,913 shares of the industrial products company’s stock worth $1,186,000 after purchasing an additional 14,798 shares during the period. 93.73% of the stock is owned by institutional investors and hedge funds.

MLI traded up $0.14 during trading on Wednesday, hitting $32.24. The company’s stock had a trading volume of 123,648 shares, compared to its average volume of 228,286. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.60 and a current ratio of 3.02. Mueller Industries has a 12 month low of $21.49 and a 12 month high of $34.24. The company has a market cap of $1.82 billion, a price-to-earnings ratio of 17.33 and a beta of 1.43.

Mueller Industries (NYSE:MLI) last issued its quarterly earnings data on Tuesday, February 5th. The industrial products company reported $0.47 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.22 by $0.25. Mueller Industries had a return on equity of 18.83% and a net margin of 4.17%. The firm had revenue of $559.09 million during the quarter. During the same quarter in the previous year, the firm posted $0.10 EPS. The company’s revenue for the quarter was up 6.8% compared to the same quarter last year. As a group, research analysts predict that Mueller Industries will post 1.9 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 15th were paid a $0.10 dividend. The ex-dividend date was Thursday, March 14th. This represents a $0.40 annualized dividend and a dividend yield of 1.24%. Mueller Industries’s dividend payout ratio (DPR) is currently 21.51%.

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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