Mueller Industries, Inc.’s recent filing unveils that its EVP, CFO & Treasurer Martin Jeffrey Andrew unloaded Company’s shares for reported $2.33 million on Feb 08 ’24. In the deal valued at $49.25 per share,47,280 shares were sold. As a result of this transaction, Martin Jeffrey Andrew now holds 370,840 shares worth roughly $20.01 million.
Then, HANSEN JOHN B sold 5,000 shares, generating $246,650 in total proceeds. Upon selling the shares at $49.33, the Director now owns 18,000 shares.
Before that, Sigloch Steffen sold 53,792 shares. Mueller Industries, Inc. shares valued at $2,559,961 were divested by the Chief Manufacturing Officer at a price of $47.59 per share. As a result of the transaction, Sigloch Steffen now holds 212,882 shares, worth roughly $11.49 million.
Northcoast downgraded its Mueller Industries, Inc. [MLI] rating to a Neutral from a a Buy in a research note published recently. A number of analysts have revised their coverage, including Boenning & Scattergood’s analysts, who increased its forecast for the stock in mid December from “a Neutral” to “an Outperform”. Boenning & Scattergood also remained covering MLI and has increased its forecast on February 04, 2020 with a “an Outperform” recommendation from previously “Neutral” rating. Boenning & Scattergood started covering the stock on May 18, 2018. It rated MLI as “a Neutral”.
Price Performance Review of MLI
On Tuesday, Mueller Industries, Inc. [NYSE:MLI] saw its stock fall -0.09% to $53.96. Over the last five days, the stock has gained 3.27%. Mueller Industries, Inc. shares have risen nearly 14.44% since the year began. Nevertheless, the stocks have risen 63.52% over the past one year. While a 52-week high of $54.64 was reached on 03/28/24, a 52-week low of $32.94 was recorded on 01/17/24. SMA at 50 days reached $51.11, while 200 days put it at $43.42. A total of 0.39 million shares were traded, compared to the trading of 0.46 million shares in the previous session.
Levels Of Support And Resistance For MLI Stock
The 24-hour chart illustrates a support level at 53.26, which if violated will result in even more drops to 52.55. On the upside, there is a resistance level at 54.53. A further resistance level may holdings at 55.09. The Relative Strength Index (RSI) on the 14-day chart is 60.00, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.52, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bullish at 23.13%. Stochastics %K at 76.19% indicates the stock is a holding.
How much short interest is there in Mueller Industries, Inc.?
A steep rise in short interest was recorded in Mueller Industries, Inc. stocks on Mar 28, 2024, dropping by -0.6 million shares to a total of 5.55 million shares. Yahoo Finance data shows the prior-month short interest on Feb 29, 2024 was 6.15 million shares. There was a decline of -10.81%, which implies that there is a negative sentiment for the stock. In spite of short shares comprising just 6.96% of the overall stock float, the days-to-cover ratio (short ratio) fell to 7.5.
