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 Mueller Industries stock in a transaction dated Thursday, February 13th. The stock was sold at an average price of $79.81, for a total transaction 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 $4,477,181.38. This trade represents a 15.13 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Mueller Industries Stock Performance

Shares of NYSE MLI traded up $1.46 during midday trading on Thursday, hitting $80.88. 323,866 shares of the stock traded hands, compared to its average volume of 717,459. Mueller Industries, Inc. has a one year low of $47.46 and a one year high of $96.81. The firm has a market capitalization of $9.20 billion, a P/E ratio of 15.23 and a beta of 0.98. The firm has a 50-day moving average of $80.30 and a two-hundred day moving average of $77.21.

Mueller Industries (NYSE:MLI) last announced 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%.

Wall Street Analysts Forecast Growth

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

Institutional Trading of Mueller Industries

Several large investors have recently added to or reduced their stakes in MLI. GAMMA Investing LLC boosted its stake in shares of Mueller Industries by 36.0% during the 3rd quarter. GAMMA Investing LLC now owns 552 shares of the industrial products company’s stock worth $41,000 after acquiring an additional 146 shares during the last quarter. Creative Planning raised its holdings in Mueller Industries by 36.5% in the 3rd quarter. Creative Planning now owns 40,081 shares of the industrial products company’s stock worth $2,970,000 after purchasing an additional 10,714 shares during the period. Kapitalo Investimentos Ltda lifted its position in Mueller Industries by 3.5% during the third quarter. Kapitalo Investimentos Ltda now owns 4,582 shares of the industrial products company’s stock valued at $340,000 after purchasing an additional 156 shares in the last quarter. nVerses Capital LLC bought a new stake in Mueller Industries during the third quarter valued at about $452,000. Finally, Addison Capital Co increased its position in Mueller Industries by 1.7% in the third quarter. Addison Capital Co now owns 51,091 shares of the industrial products company’s stock worth $3,786,000 after buying an additional 833 shares in the last quarter. 94.50% of the stock is currently owned by institutional investors.

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.