How Analysts Feel About Mueller Industries, Inc. (MLI) After Forming Double Bottom Pattern?

September 17, 2017 - By Richard Conner

Investors sentiment decreased to 1.21 in 2016 Q4. Its down 0.27, from 1.48 in 2016Q3. It worsened, as 13 investors sold Mueller Industries, Inc. shares while 49 reduced holdings. 20 funds opened positions while 55 raised stakes. 52.01 million shares or 0.20% more from 51.91 million shares in 2016Q3 were reported.
Moreover, Aqr Management Ltd Llc has 0.01% invested in Mueller Industries, Inc. (NYSE:MLI). Victory Cap Management invested in 0.09% or 910,227 shares. Prudential Fin Inc reported 396,248 shares or 0.03% of all its holdings. Tiaa Cref Management Limited Liability Co owns 238,698 shares for 0.01% of their portfolio. Cubist Systematic Strategies Lc reported 0.02% stake. Moreover, Oppenheimer And Company has 0.01% invested in Mueller Industries, Inc. (NYSE:MLI) for 8,000 shares. 48,961 were accumulated by Pinebridge Invs Ltd Partnership. Blackrock Fund holds 4.60M shares or 0.03% of its portfolio. Deutsche State Bank Ag holds 0.01% of its portfolio in Mueller Industries, Inc. (NYSE:MLI) for 222,279 shares. Comml Bank Of America Corp De invested in 150,892 shares. Wellington Mngmt Group Ltd Liability Partnership reported 3.86 million shares. Comerica Fincl Bank accumulated 60,982 shares. First Tru Advisors Lp, a Illinois-based fund reported 207,343 shares. Guggenheim Cap Limited Liability Com holds 0.02% or 158,952 shares. Rhumbline Advisers holds 0.01% in Mueller Industries, Inc. (NYSE:MLI) or 106,511 shares.

Since April 4, 2017, it had 0 buys, and 1 sale for $100,230 activity. Martin Jeffrey Andrew sold $100,230 worth of stock or 3,000 shares.

The chart of Mueller Industries, Inc. (MLI) shows a double bottom with $29.35 target or 9.00 % below today’s $32.25 share price. The 5 months chart pattern indicates high risk for the $1.86B company. It was reported on Sep, 17 by Finviz.com. If the $29.35 price target is reached, the company will be worth $167.40M less. Double bottoms are rare but powerful chart patterns.

The stock increased 4.54% or $1.4 on September 15, reaching $32.25. About 783,646 shares traded or 456.39% up from the average. Mueller Industries, Inc. (NYSE:MLI) has risen 3.10% since September 17, 2016 and is uptrending. It has underperformed by 13.60% the S&P500.

More notable recent Mueller Industries, Inc. (NYSE:MLI) news were published by: Nasdaq.com which released: “Mueller Industries, Inc. (MLI) Ex-Dividend Date Scheduled for March 03, 2017” on March 02, 2017, also Bizjournals.com with their article: “Memphis public company makes acquisitions in Canada” published on June 06, 2017, Seekingalpha.com published: “Mueller Industries Building From A Surprisingly Solid Base” on January 10, 2017. More interesting news about Mueller Industries, Inc. (NYSE:MLI) were released by: Seekingalpha.com and their article: “Mueller? Mueller!” published on September 06, 2017 as well as Bizjournals.com‘s news article titled: “Mueller reports quarterly increases, notes rising copper prices” with publication date: May 01, 2017.

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