The stock of Mueller Industries, Inc. (NYSE:MLI) hit a new 52-week high and has $41.23 target or 7.00% above today’s $38.53 share price. The 6 months bullish chart indicates low risk for the $2.23 billion company. The 1-year high was reported on Nov, 25 by Barchart.com. If the $41.23 price target is reached, the company will be worth $156.10M more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. The stock increased 0.21% or $0.08 during the last trading session, hitting $38.53. About 76,729 shares traded hands. 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 Q2 2016. Its up 0.32, from 1.16 in 2016Q1. The ratio increased, 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.
Gabelli Funds Ltd Limited Liability Company has 2.14M shares for 0.4% of their US portfolio. Epoch Prns Incorporated has invested 0.16% of its portfolio in Mueller Industries, Inc. (NYSE:MLI). Ladenburg Thalmann Financial Services has invested 0% of its portfolio in Mueller Industries, Inc. (NYSE:MLI). Wellington Grp Incorporated Llp last reported 0.03% of its portfolio in the stock. Teachers Advisors has 0.03% invested in the company for 481,376 shares. Royal Retail Bank Of Canada reported 4,404 shares or 0% of all its holdings. Whittier Tru Com last reported 3,336 shares in the company. Blackrock Fund accumulated 3.75M shares or 0.03% of the stock. Zurcher Kantonalbank (Zurich Cantonalbank), a Switzerland-based fund reported 1,282 shares. Ahl Prtnrs Llp owns 61,080 shares or 0.11% of their US portfolio. Acadian Asset Mngmt Ltd Company holds 0% of its portfolio in Mueller Industries, Inc. (NYSE:MLI) for 2,780 shares. Renaissance Techs Lc has 131,600 shares for 0.01% of their US portfolio. Tiaa Cref Llc accumulated 224,602 shares or 0.01% of the stock. Clinton Gru last reported 18,443 shares in the company. Blackrock Limited Company has 0% invested in the company for 26,870 shares.
Insider Transactions: Since May 27, 2016, the stock had 0 insider buys, and 3 selling transactions for $2.55 million net activity. On Thursday, August 25 CORMAN RICHARD W sold $128,866 worth of the stock or 3,768 shares. Christopher Gregory L. had sold 40,000 shares worth $1.52M. Shares for $200,841 were sold by FULVIO GENNARO J.
More news for Mueller Industries, Inc. (NYSE:MLI) were recently published by: Marketwatch.com, which released: “/quotes/zigman/3870025/realtime” on April 18, 2011. Businesswire.com‘s article titled: “Mueller Industries & Atlas Holdings Complete Tender Offer for Tecumseh …” and published on September 21, 2015 is yet another important article.
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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