The stock of Mueller Industries, Inc. (NYSE:MLI) reached all time high today, Nov, 24 and still has $41.91 target or 9.00% above today’s $38.45 share price. This indicates more upside for the $2.23B company. This technical setup was reported by Barchart.com. If the $41.91 PT is reached, the company will be worth $200.70 million more.
Trading stocks at an all time highs is usually a winning strategy. An all time high points to a stock which has the most positive fundamentals ever. Even thought the pullback rate is high, if correct risk management is utilized, investors can trade very well such events. The stock increased 1.02% or $0.39 on November 23, hitting $38.45. Mueller Industries, Inc. (NYSE:MLI) has risen 21.87% since April 22, 2016 and is uptrending. It has outperformed by 16.46% the S&P500.
Analysts await Mueller Industries, Inc. (NYSE:MLI) to report earnings on February, 7.
According to Zacks Investment Research, “Mueller Industries, Inc. is a leading manufacturer of copper tube and fittings; brass and copper alloy rod, bar and shapes; aluminum and brass forgings; aluminum and copper impact extrusions; plastic fittings and valves; refrigeration valves and fittings; and fabricated tubular products. Mueller’s operations are located throughout the United States and in Canada, Mexico, Great Britain, and China. Mueller’s business is importantly linked to the construction of new homes; the improvement and reconditioning of existing homes and structures; and the commercial construction market which includes, office buildings, factories, hotels, hospitals, etc.”
Insitutional Activity: The institutional sentiment increased to 1.48 in 2016 Q2. Its up 0.32, from 1.16 in 2016Q1. The ratio is positive, as 11 funds sold all Mueller Industries, Inc. shares owned while 47 reduced positions. 12 funds bought stakes while 55 increased positions. They now own 52.49 million shares or 0.52% less from 52.76 million shares in 2016Q1.
Grp, a New York-based fund reported 42,250 shares. D E Shaw Inc holds 0.01% or 162,400 shares in its portfolio. Proshare Advisors Lc accumulated 0% or 8,500 shares. Moreover, Ahl Prtn Limited Liability Partnership has 0.11% invested in Mueller Industries, Inc. (NYSE:MLI) for 61,080 shares. Citigroup Inc has 31,197 shares for 0% of their US portfolio. California Pub Employees Retirement Sys holds 0.01% of its portfolio in Mueller Industries, Inc. (NYSE:MLI) for 154,600 shares. Springbok Capital Mngmt Ltd Limited Liability Company holds 640 shares or 0% of its portfolio. Tower Rech Capital Ltd Limited Liability Company (Trc) last reported 0.02% of its portfolio in the stock. Public Sector Pension Board last reported 0.01% of its portfolio in the stock. Great West Life Assurance Can accumulated 4,280 shares or 0% of the stock. The Minnesota-based Us Bancshares De has invested 0% in Mueller Industries, Inc. (NYSE:MLI). Fmr Ltd Liability Corporation last reported 5.16 million shares in the company. Whittier Tru, a California-based fund reported 3,336 shares. Goldman Sachs Group owns 180,796 shares or 0% of their US portfolio. Moreover, Invesco has 0% invested in Mueller Industries, Inc. (NYSE:MLI) for 379,625 shares.
Insider Transactions: Since May 27, 2016, the stock had 0 insider buys, and 3 selling transactions for $2.55 million net activity. Christopher Gregory L. also sold $1.52M worth of Mueller Industries, Inc. (NYSE:MLI) on Tuesday, November 22. CORMAN RICHARD W sold $128,866 worth of stock or 3,768 shares. Shares for $200,841 were sold by FULVIO GENNARO J.
More recent Mueller Industries, Inc. (NYSE:MLI) news were published by: Marketwatch.com which released: “/quotes/zigman/3870025/realtime” on April 18, 2011. Also Businesswire.com published the news titled: “Mueller Industries & Atlas Holdings Complete Tender Offer for Tecumseh …” on September 21, 2015. Nasdaq.com‘s news article titled: “Mueller Industries Enters Oversold Territory” with publication date: October 26, 2016 was also an interesting one.
MLI Company Profile
Mueller Industries, Inc. (Mueller), incorporated on October 3, 1990, is a maker of copper, brass, aluminum and plastic products. The Firm operates through two divisions: Plumbing & Refrigeration, and Original Equipment Manufacturers (OEM). The Company’s products include copper tube and fittings; brass and copper alloy rod, bar, and shapes; aluminum and brass forgings; aluminum and copper impact extrusions; plastic fittings and valves; refrigeration valves and fittings; fabricated tubular products; and steel nipples. The Firm also resells imported brass and plastic plumbing valves, malleable iron fittings, faucets and plumbing specialty products. Mueller’s activities are located throughout the United States and in Canada, Mexico, Great Britain, and China.
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