Shares of Mueller Industries, Inc. (MLI) hit a new 52-week high on Thursday. The stock traded as high as $34.71 during mid-day trading and last traded at $34.62. The stock previously closed at $34.29.
Separately, analysts at Zacks Investment Research downgraded shares of Mueller Industries, Inc. from an “outperform” rating to a “neutral” rating in a research note to investors on Tuesday, January 4th.
Mueller Industries, Inc. (Mueller) is a manufacturer of copper, brass, plastic, and aluminum products. The range of products manufactured by the Company include copper tube and fittings; brass and copper alloy rod, bar, and shapes; aluminum and brass forgings; aluminum and copper impact extrusions; plastic pipe, fittings and valves; refrigeration valves and fittings; fabricated tubular products, and steel nipples. The Company also resells imported brass and plastic plumbing valves, malleable iron fittings, faucets and plumbing specialty products. The Company operates in two business segments: the plumbing and refrigeration segment, and the original equipment manufacturers (OEM) segment. The plumbing and refrigeration segment is composed of the standard products division (SPD), European operations and Mexican operations. The OEM segment is composed of the industrial products division (IPD), engineered products division (EPD) and Mueller-Xingrong, the Company’s Chinese joint venture.
Shares of Mueller Industries, Inc. traded up 1.17% during mid-day trading on Thursday, hitting $34.69. Mueller Industries, Inc. has a 52 week low of $23.10 and a 52 week high of $34.57. The stock’s 50-day moving average is $33.43 and its 200-day moving average is $30.84. The company has a market cap of $1.313 billion and a price-to-earnings ratio of 15.04.
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