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 $3,527,500 were sold by Christopher Gregory L. on Aug 23 ’24. At $70.55 per share, Christopher Gregory L. sold 50,000 shares. The insider’s holdings dropped to 1,164,311 shares worth approximately $77.86 million following the completion of this transaction.
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Also, Christopher Gregory L. sold 50,000 shares, netting a total of over 3,496,000 in proceeds. Following the sale of shares at $69.92 each, the insider now holds 1,214,311 shares.
Before that, Christopher Gregory L. had added 100,000 shares to its account. In a trade valued at $6,990,000, the Officer bought Mueller Industries, Inc. shares for $69.90 each.
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 -4.43%. Over the course of the year, Mueller Industries, Inc. shares have jumped approximately 41.82%. Shares of the company reached a 52-week high of $72.83 on 09/03/24 and a 52-week low of $44.39 on 01/17/24. A 50-day SMA is recorded $65.22, while a 200-day SMA reached $54.52. Nevertheless, trading volume fell to 0.55 million shares from 0.75 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 66.31, which, if violated, would cause prices to drop to 65.74. In the upper region, resistance lies at 67.62. The next price resistance is at 68.36. RSI (Relative Strength Index) is 46.19 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -1.73, which suggests the price will decrease in the coming days. Percent R is at 94.01%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
