Mueller Industries (MLI) Downgraded by TheStreet to C

TheStreet cut shares of Mueller Industries (NYSE:MLI) from a b rating to a c rating in a research note published on Tuesday.

Shares of Mueller Industries (NYSE MLI) traded down $0.64 during trading hours on Tuesday, reaching $26.35. 122,838 shares of the company were exchanged, compared to its average volume of 257,158. The company has a market capitalization of $1,642.82, a PE ratio of 18.00 and a beta of 1.27. The company has a debt-to-equity ratio of 0.84, a current ratio of 3.05 and a quick ratio of 1.67. Mueller Industries has a fifty-two week low of $26.35 and a fifty-two week high of $43.96.

A number of institutional investors have recently modified their holdings of MLI. SG Americas Securities LLC acquired a new stake in Mueller Industries in the fourth quarter valued at approximately $188,000. Raymond James Financial Services Advisors Inc. acquired a new stake in Mueller Industries in the second quarter valued at approximately $206,000. Magnetar Financial LLC acquired a new stake in Mueller Industries in the third quarter valued at approximately $206,000. GABELLI & Co INVESTMENT ADVISERS INC. acquired a new stake in Mueller Industries in the third quarter valued at approximately $227,000. Finally, Amalgamated Bank boosted its position in Mueller Industries by 5.2% in the second quarter. Amalgamated Bank now owns 7,949 shares of the industrial products company’s stock valued at $242,000 after buying an additional 394 shares in the last quarter. Hedge funds and other institutional investors own 90.42% of the company’s stock.

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About Mueller Industries

Mueller Industries, Inc is a manufacturer of copper, brass, aluminum and plastic products. The Company operates through three segments: Piping Systems, Industrial Metals and Climate. The Company’s products include copper tube and fittings; line sets; brass and copper alloy rod, bar, and shapes; aluminum and brass forgings; aluminum impact extrusions; plastic fittings and valves; refrigeration valves and fittings; fabricated tubular products, and steel nipples.

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