Mueller Industries (NYSE:MLI) Upgraded to Strong-Buy at Wall Street Zen

Key Points

• Wall Street Zen upgraded Mueller Industries from "hold" to strong-buy, Weiss Ratings reissued a Buy and the stock carries a consensus Buy rating.
• Mueller beat estimates with Q1 EPS of $2.16 vs. $1.49 expected and revenue of $1.19B (up 19.3% YoY), reporting a 19.37% net margin and 25.97% return on equity.
• The shares are trading near their 12‑month high (high $139.68), the company has a market cap of $15.03B and a P/E of 17.8, with roughly 94.5% institutional ownership.

Mueller Industries (NYSE:MLI - Get Free Report) was upgraded by Wall Street Zen from a "hold" rating to a "strong-buy" rating in a report released on Saturday.

Separately, Weiss Ratings reissued a "buy (b)" rating on shares of Mueller Industries in a report on Tuesday. One analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, the stock currently has a consensus rating of "Buy".

Mueller Industries Stock Up 0.2%

Shares of NYSE:MLI opened at $135.97 on Friday. Mueller Industries has a 12 month low of $71.54 and a 12 month high of $139.68. The company's 50-day moving average price is $116.99 and its two-hundred day moving average price is $115.17. The firm has a market cap of $15.03 billion, a P/E ratio of 17.80 and a beta of 1.07.

Mueller Industries (NYSE:MLI - Get Free Report) last issued its quarterly earnings data on Tuesday, April 21st. The industrial products company reported $2.16 EPS for the quarter, topping analysts' consensus estimates of $1.49 by $0.67. Mueller Industries had a net margin of 19.37% and a return on equity of 25.97%. The firm had revenue of $1.19 billion for the quarter, compared to analyst estimates of $1.10 billion. During the same quarter in the prior year, the firm earned $1.39 EPS. The company's revenue was up 19.3% on a year-over-year basis.

Insider Activity

In other news, Director John B. Hansen sold 1,000 shares of the firm's stock in a transaction dated Monday, February 9th. The shares were sold at an average price of $116.71, for a total value of $116,710.00. Following the transaction, the director owned 90,664 shares of the company's stock, valued at approximately $10,581,395.44. This trade represents a 1.09% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Scott Jay Goldman sold 4,430 shares of the firm's stock in a transaction dated Friday, February 13th. The shares were sold at an average price of $118.97, for a total transaction of $527,037.10. Following the completion of the transaction, the director directly owned 41,645 shares in the company, valued at $4,954,505.65. This trade represents a 9.61% decrease in their position. The disclosure for this sale is available in the SEC filing. 2.30% of the stock is currently owned by company insiders.

Institutional Trading of Mueller Industries

A number of hedge funds have recently modified their holdings of MLI. AQR Capital Management LLC raised its position in shares of Mueller Industries by 181.4% in the 3rd quarter. AQR Capital Management LLC now owns 2,585,693 shares of the industrial products company's stock valued at $261,439,000 after acquiring an additional 1,666,891 shares during the period. Norges Bank acquired a new stake in shares of Mueller Industries in the 4th quarter valued at approximately $171,281,000. UBS Group AG raised its position in shares of Mueller Industries by 837.0% in the 3rd quarter. UBS Group AG now owns 1,283,943 shares of the industrial products company's stock valued at $129,819,000 after acquiring an additional 1,146,919 shares during the period. Pictet Asset Management Holding SA raised its position in shares of Mueller Industries by 136.5% in the 1st quarter. Pictet Asset Management Holding SA now owns 1,674,939 shares of the industrial products company's stock valued at $185,561,000 after acquiring an additional 966,840 shares during the period. Finally, Goldman Sachs Group Inc. raised its position in shares of Mueller Industries by 36.8% in the 4th quarter. Goldman Sachs Group Inc. now owns 2,528,013 shares of the industrial products company's stock valued at $290,216,000 after acquiring an additional 679,958 shares during the period. 94.50% of the stock is currently owned by institutional investors and hedge funds.

About Mueller Industries

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.

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