Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Mueller Industries, Inc. shares valued at $6,990,000 were purchased by Christopher Gregory L. on Aug 22 ’24. At $69.90 per share, Christopher Gregory L. acquired 100,000 shares.
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Also, Christopher Gregory L. sold 55,000 shares, netting a total of over 3,717,450 in proceeds. Following the sale of shares at $67.59 each, the insider now holds 1,309,311 shares.
Before that, Christopher Gregory L. had sold 45,000 shares from its account. In a trade valued at $3,047,850, the Chairman of the Board & CEO traded Mueller Industries, Inc. shares for $67.73 each. Upon closing the transaction, the insider’s holdings decreased to 45,000 shares, worth approximately $87.39 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 surge of approximately 0.98%. Over the course of the year, Mueller Industries, Inc. shares have jumped approximately 46.60%. Shares of the company reached a 52-week high of $72.68 on 07/31/24 and a 52-week low of $44.39 on 01/17/24. A 50-day SMA is recorded $62.69, while a 200-day SMA reached $53.14. Nevertheless, trading volume fell to 0.84 million shares from 0.46 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 68.55, which, if violated, would cause prices to drop to 67.98. In the upper region, resistance lies at 70.13. The next price resistance is at 71.14. RSI (Relative Strength Index) is 58.44 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 1.16, which suggests the price will increase in the coming days. Percent R is at 18.52%, indicating bullish price movement. Stochastics %K at holding indicates that the stock is to be held.
