Mueller Industries (NYSE:MLI) Upgraded by TheStreet to “B-“

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

MLI has been the topic of a number of other reports. Zacks Investment Research lowered shares of Mueller Industries from a strong-buy rating to a hold rating in a research note on Wednesday, September 25th. ValuEngine lowered shares of Mueller Industries from a sell rating to a strong sell rating in a research note on Thursday, October 17th.

Mueller Industries stock traded up $0.20 during midday trading on Thursday, reaching $31.87. The company had a trading volume of 132,816 shares, compared to its average volume of 225,069. The company has a market capitalization of $1.79 billion, a P/E ratio of 17.13 and a beta of 1.38. Mueller Industries has a 12-month low of $21.49 and a 12-month high of $34.24. The firm’s fifty day simple moving average is $29.24 and its 200-day simple moving average is $28.44. 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 (NYSE:MLI) last issued its quarterly earnings results on Tuesday, October 22nd. The industrial products company reported $0.52 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.44 by $0.08. The firm had revenue of $608.60 million for the quarter. Mueller Industries had a net margin of 4.07% and a return on equity of 20.22%. The company’s quarterly revenue was down 5.8% compared to the same quarter last year. During the same period in the prior year, the business posted $0.35 earnings per share. On average, analysts expect that Mueller Industries will post 1.52 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Friday, December 6th will be paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 1.26%. Mueller Industries’s dividend payout ratio (DPR) is 21.51%.

In other Mueller Industries news, CEO Gregory L. Christopher sold 14,992 shares of the firm’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 transaction, the chief executive officer now directly owns 532,666 shares of the company’s stock, valued at approximately $17,050,638.66. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Gennaro J. Fulvio sold 10,383 shares of the firm’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 transaction of $276,395.46. Following the completion of the transaction, the director now directly owns 2,000 shares in the company, valued at $53,240. The disclosure for this sale can be found here. Insiders sold a total of 46,062 shares of company stock worth $1,397,469 over the last three months. Corporate insiders own 3.30% of the company’s stock.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Systematic Financial Management LP lifted its stake in Mueller Industries by 20.0% in the 3rd quarter. Systematic Financial Management LP now owns 389,275 shares of the industrial products company’s stock worth $11,164,000 after purchasing an additional 64,781 shares in the last quarter. Eqis Capital Management Inc. lifted its stake in Mueller Industries by 26.9% in the 3rd quarter. Eqis Capital Management Inc. now owns 12,327 shares of the industrial products company’s stock worth $354,000 after purchasing an additional 2,616 shares in the last quarter. Mason Street Advisors LLC lifted its stake in Mueller Industries by 1.8% in the 3rd quarter. Mason Street Advisors LLC now owns 19,241 shares of the industrial products company’s stock worth $552,000 after purchasing an additional 339 shares in the last quarter. First Trust Advisors LP lifted its stake in Mueller Industries by 96.6% in the 3rd quarter. First Trust Advisors LP now owns 483,009 shares of the industrial products company’s stock worth $13,853,000 after purchasing an additional 237,292 shares in the last quarter. Finally, California Public Employees Retirement System lifted its stake in Mueller Industries by 14.3% in the 3rd quarter. California Public Employees Retirement System now owns 143,860 shares of the industrial products company’s stock worth $4,126,000 after purchasing an additional 18,003 shares in the last quarter. 90.79% of the stock is currently owned by institutional investors and hedge funds.

About Mueller Industries

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.

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