Mueller Industries, Inc. (MLI) Director Buys $102,000.00 in Stock

Mueller Industries, Inc. (NYSE:MLI) Director Charles P. Herzog, Jr. purchased 4,000 shares of Mueller Industries stock in a transaction that occurred on Friday, November 2nd. The shares were purchased at an average cost of $25.50 per share, with a total value of $102,000.00. Following the transaction, the director now directly owns 6,024 shares of the company’s stock, valued at $153,612. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Shares of MLI stock opened at $26.35 on Friday. Mueller Industries, Inc. has a 12-month low of $23.32 and a 12-month high of $37.57. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.83 and a current ratio of 3.12. The company has a market capitalization of $1.51 billion, a P/E ratio of 17.68 and a beta of 1.50.

Mueller Industries (NYSE:MLI) last issued its earnings results on Tuesday, October 23rd. The industrial products company reported $0.37 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.41 by ($0.04). Mueller Industries had a return on equity of 15.29% and a net margin of 3.37%. The company had revenue of $645.96 million during the quarter, compared to analysts’ expectations of $583.39 million. As a group, equities analysts predict that Mueller Industries, Inc. will post 1.5 EPS for the current year.

Hedge funds have recently modified their holdings of the stock. Raymond James Financial Services Advisors Inc. purchased a new stake in Mueller Industries in the second quarter worth approximately $203,000. CIBC Asset Management Inc purchased a new stake in Mueller Industries in the second quarter worth approximately $222,000. Commonwealth Bank of Australia purchased a new stake in Mueller Industries in the third quarter worth approximately $246,000. Advisor Partners LLC purchased a new stake in Mueller Industries in the second quarter worth approximately $256,000. Finally, Nisa Investment Advisors LLC boosted its holdings in Mueller Industries by 100.0% in the second quarter. Nisa Investment Advisors LLC now owns 10,000 shares of the industrial products company’s stock worth $295,000 after purchasing an additional 5,000 shares during the last quarter. Institutional investors own 92.79% of the company’s stock.

Several brokerages recently issued reports on MLI. TheStreet cut shares of Mueller Industries from a “b-” rating to a “c+” rating in a report on Monday, October 29th. Boenning Scattergood restated a “hold” rating on shares of Mueller Industries in a report on Tuesday, October 23rd. ValuEngine cut shares of Mueller Industries from a “hold” rating to a “sell” rating in a report on Monday, September 17th. Finally, Zacks Investment Research cut shares of Mueller Industries from a “hold” rating to a “strong sell” rating in a report on Friday, October 26th.

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Mueller Industries Company Profile

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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