The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Mueller Industries, Inc. shares valued at $3,002,050 were sold by Martin Jeffrey Andrew on Apr 26 ’24. At $57.25 per share, Martin Jeffrey Andrew sold 52,436 shares. The insider’s holdings dropped to 313,529 shares worth approximately $17.59 million following the completion of this transaction.
Also, GLADSTEIN GARY S sold 4,250 shares, netting a total of over 248,965 in proceeds. Following the sale of shares at $58.58 each, the insider now holds 292,206 shares.
Before that, HANSEN JOHN B had sold 4,000 shares from its account. In a trade valued at $229,178, the Director traded Mueller Industries, Inc. shares for $57.29 each. Upon closing the transaction, the insider’s holdings decreased to 4,000 shares, worth approximately $5.85 million.
As published in a research note from Northcoast on January 19, 2024, Mueller Industries, Inc. [MLI] has been rated down from a Buy to a Neutral. Analysts at Boenning & Scattergood upgraded the stock from ‘”a Neutral”‘ to ‘”an Outperform”‘ outlook in a report released in mid December. As of February 04, 2020, Boenning & Scattergood has increased its “Neutral” rating to a “an Outperform” for MLI. Earlier on May 18, 2018, Boenning & Scattergood initiated its rating. Their recommendation was “a Neutral” for MLI stock.
Analyzing MLI Stock Performance
During the last five days, there has been a drop of approximately -3.23%. Over the course of the year, Mueller Industries, Inc. shares have jumped approximately 18.96%. Shares of the company reached a 52-week high of $59.59 on 04/24/24 and a 52-week low of $44.39 on 01/17/24. A 50-day SMA is recorded $52.80, while a 200-day SMA reached $44.33. Nevertheless, trading volume fell to 0.69 million shares from 0.77 million shares the previous day.
Support And Resistance Levels for Mueller Industries, Inc. (MLI)
According to the 24-hour chart, there is a support level at 55.60, which, if violated, would cause prices to drop to 55.11. In the upper region, resistance lies at 56.81. The next price resistance is at 57.53. RSI (Relative Strength Index) is 58.04 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 1.89, which suggests the price will increase in the coming days. Percent R is at 40.05%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
