Shares of Mueller Industries Inc. (NYSE:MLI) shot up 1.9% during mid-day trading on Friday . The stock traded as high as $35.02 and last traded at $34.92, with a volume of 163,356 shares trading hands. The stock had previously closed at $34.27.

Separately, TheStreet upgraded Mueller Industries from a “hold” rating to a “buy” rating in a research note on Thursday, March 24th.

The firm has a market cap of $2.02 billion and a PE ratio of 21.41. The company’s 50-day moving average is $32.09 and its 200-day moving average is $29.00.

Mueller Industries (NYSE:MLI) last released its earnings results on Tuesday, April 19th. The company reported $0.50 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.40 by $0.10. On average, equities research analysts expect that Mueller Industries Inc. will post $1.55 EPS for the current fiscal year.

In other Mueller Industries news, Director John B. Hansen sold 5,000 shares of Mueller Industries stock in a transaction that occurred on Monday, May 16th. The shares were sold at an average price of $30.01, for a total value of $150,050.00. Following the completion of the sale, the director now directly owns 45,607 shares of the company’s stock, valued at approximately $1,368,666.07. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Gennaro J. Fulvio sold 6,460 shares of Mueller Industries stock in a transaction that occurred on Friday, May 27th. The stock was sold at an average price of $31.09, for a total transaction of $200,841.40. Following the completion of the sale, the director now directly owns 2,000 shares of the company’s stock, valued at $62,180. The disclosure for this sale can be found here.

A number of hedge funds have recently added to or reduced their stakes in MLI. Dimensional Fund Advisors LP boosted its stake in Mueller Industries by 6.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,895,524 shares of the company’s stock valued at $51,370,000 after buying an additional 119,207 shares during the last quarter. Matarin Capital Management LLC purchased a new stake in Mueller Industries during the fourth quarter valued at approximately $5,722,000. Principal Financial Group Inc. boosted its stake in Mueller Industries by 4.9% in the fourth quarter. Principal Financial Group Inc. now owns 390,357 shares of the company’s stock valued at $10,578,000 after buying an additional 18,098 shares during the last quarter. Wells Fargo & Company MN boosted its stake in Mueller Industries by 13.6% in the fourth quarter. Wells Fargo & Company MN now owns 1,103,423 shares of the company’s stock valued at $29,902,000 after buying an additional 131,832 shares during the last quarter. Finally, Mutual of America Capital Management LLC boosted its stake in Mueller Industries by 9.3% in the fourth quarter. Mutual of America Capital Management LLC now owns 414,015 shares of the company’s stock valued at $11,220,000 after buying an additional 35,257 shares during the last quarter.

Mueller Industries, Inc (Mueller) is a manufacturer of copper, brass, aluminum and plastic products. The Company operates through two segments: Plumbing & Refrigeration and Original Equipment Manufacturers (OEM). Its Plumbing & Refrigeration segment consists of Standard Products (SPD), Great Lakes Copper Ltd.

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