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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 research note released on Thursday, November 7th, TheStreetRatingsTable reports.

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MLI has been the topic of a number of other research reports. ValuEngine lowered shares of Mueller Industries from a sell rating to a strong sell rating in a research note on Thursday, October 17th. 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.

Mueller Industries stock traded down $0.04 during trading on Thursday, reaching $31.59. 111,962 shares of the company’s stock were exchanged, compared to its average volume of 212,118. The company’s 50-day moving average is $29.54 and its two-hundred day moving average is $28.49. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.84 and a current ratio of 2.96. Mueller Industries has a 52-week low of $21.49 and a 52-week high of $34.24. The firm has a market cap of $1.80 billion, a price-to-earnings ratio of 16.98 and a beta of 1.38.

Mueller Industries (NYSE:MLI) last posted its quarterly earnings data on Tuesday, October 22nd. The industrial products company reported $0.52 earnings per share for the quarter, beating analysts’ consensus estimates of $0.44 by $0.08. The company had revenue of $608.60 million during the quarter. Mueller Industries had a net margin of 4.07% and a return on equity of 20.22%. The business’s quarterly revenue was down 5.8% on a year-over-year basis. During the same period in the previous year, the company earned $0.35 earnings per share. Analysts anticipate that Mueller Industries will post 1.52 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Friday, December 6th will be issued a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 1.27%. Mueller Industries’s dividend payout ratio (DPR) is presently 21.51%.

In related news, CEO Gregory L. Christopher sold 14,395 shares of the firm’s stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $31.00, for a total value of $446,245.00. Following the completion of the transaction, the chief executive officer now owns 562,053 shares of the company’s stock, valued at approximately $17,423,643. The transaction was disclosed in a document filed 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 of the company’s stock, valued at approximately $53,240. The disclosure for this sale can be found here. Insiders sold 49,775 shares of company stock valued at $1,516,285 over the last quarter. Insiders own 3.30% of the company’s stock.

A number of hedge funds have recently added to or reduced their stakes in the business. Gamco Investors INC. ET AL lifted its position in Mueller Industries by 1.8% in the 2nd quarter. Gamco Investors INC. ET AL now owns 4,322,590 shares of the industrial products company’s stock worth $126,522,000 after buying an additional 75,297 shares in the last quarter. Wells Fargo & Company MN raised its holdings in shares of Mueller Industries by 1.3% during the 2nd quarter. Wells Fargo & Company MN now owns 3,025,927 shares of the industrial products company’s stock valued at $88,570,000 after purchasing an additional 40,176 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Mueller Industries by 4.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 915,456 shares of the industrial products company’s stock valued at $26,796,000 after purchasing an additional 38,124 shares in the last quarter. Northern Trust Corp raised its holdings in shares of Mueller Industries by 0.7% during the 2nd quarter. Northern Trust Corp now owns 785,008 shares of the industrial products company’s stock valued at $22,977,000 after purchasing an additional 5,584 shares in the last quarter. Finally, United Services Automobile Association raised its holdings in shares of Mueller Industries by 2.8% during the 2nd quarter. United Services Automobile Association now owns 608,078 shares of the industrial products company’s stock valued at $17,798,000 after purchasing an additional 16,660 shares in the last quarter. Institutional investors own 90.62% of the company’s stock.

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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