Wall Street Zen Downgrades Mueller Industries (NYSE:MLI) to Buy

Mueller Industries (NYSE:MLI) was downgraded by research analysts at Wall Street Zen from a “strong-buy” rating to a “buy” rating in a research report issued on Saturday.

MLI has been the subject of a number of other reports. Northcoast Research raised Mueller Industries from a “neutral” rating to a “buy” rating and set a $75.00 target price for the company in a research note on Thursday, July 16th. Weiss Ratings restated a “buy (b)” rating on shares of Mueller Industries in a report on Friday, July 17th. Two investment analysts have rated the stock with a Buy rating, According to MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $75.00.

Mueller Industries Trading Down 0.1%

NYSE:MLI opened at $63.86 on Friday. Mueller Industries has a 1 year low of $41.17 and a 1 year high of $70.95. The stock has a 50-day moving average price of $63.75 and a two-hundred day moving average price of $62.27. The stock has a market cap of $14.12 billion, a price-to-earnings ratio of 16.63 and a beta of 1.11.

Mueller Industries (NYSE:MLI) last released its quarterly earnings results on Tuesday, July 21st. The industrial products company reported $1.13 EPS for the quarter, topping analysts’ consensus estimates of $1.09 by $0.04. Mueller Industries had a return on equity of 25.68% and a net margin of 18.25%.The company had revenue of $1.43 billion for the quarter, compared to analyst estimates of $1.27 billion. During the same quarter last year, the firm posted $1.96 earnings per share. Mueller Industries’s revenue was up 25.5% compared to the same quarter last year.

Institutional Trading of Mueller Industries

Institutional investors have recently modified their holdings of the company. Vanguard Group Inc. raised its position in Mueller Industries by 2.5% in the 4th quarter. Vanguard Group Inc. now owns 10,515,780 shares of the industrial products company’s stock valued at $1,207,212,000 after buying an additional 260,306 shares during the last quarter. First Trust Advisors LP boosted its position in Mueller Industries by 0.6% during the 1st quarter. First Trust Advisors LP now owns 5,594,217 shares of the industrial products company’s stock worth $619,839,000 after acquiring an additional 33,248 shares during the last quarter. AQR Capital Management LLC boosted its position in Mueller Industries by 56.8% during the 4th quarter. AQR Capital Management LLC now owns 4,054,565 shares of the industrial products company’s stock worth $465,464,000 after acquiring an additional 1,468,872 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Mueller Industries by 30.9% during the 4th quarter. Geode Capital Management LLC now owns 2,642,059 shares of the industrial products company’s stock worth $303,359,000 after acquiring an additional 624,210 shares in the last quarter. Finally, Goldman Sachs Group Inc. grew its stake in shares of Mueller Industries by 36.8% during the 4th quarter. Goldman Sachs Group Inc. now owns 2,528,013 shares of the industrial products company’s stock worth $290,216,000 after acquiring an additional 679,958 shares in the last quarter. 94.50% of the stock is currently owned by institutional investors.

Mueller Industries Company Profile

Mueller Industries, Inc is a diversified manufacturer and marketer of copper, brass, aluminum and plastic products. Headquartered in Memphis, Tennessee, the company serves a wide range of markets including HVAC (heating, ventilation and air conditioning), refrigeration, plumbing, industrial gas, automotive and agricultural sectors. Its product portfolio encompasses copper and plastic tubing, brass fittings, valves and related components designed for fluid handling and temperature control applications.

The company operates through multiple business segments, including the Plumbing & Refrigeration segment, which supplies copper and plastic tubing, fittings and valves for residential and commercial construction markets; the Industrial Metals & Mining segment, which provides aluminum shapes and specialty brass products for industrial applications; and the Climate segment, which focuses on copper tubing and components for air conditioning and refrigeration systems.