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 $83,090 were sold by HANSEN JOHN B on Oct 30 ’24. At $83.09 per share, HANSEN JOHN B sold 1,000 shares. The insider’s holdings dropped to 94,914 shares worth approximately $9.02 million following the completion of this transaction.
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Also, Christopher Gregory L. sold 50,000 shares, netting a total of over 3,527,500 in proceeds. Following the sale of shares at $70.55 each, the insider now holds 1,164,311 shares.
Before that, Christopher Gregory L. had sold 50,000 shares from its account. In a trade valued at $3,496,000, the Chairman of the Board & CEO traded Mueller Industries, Inc shares for $69.92 each. Upon closing the transaction, the insider’s holdings decreased to 50,000 shares, worth approximately $115.36 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 14.46%. Over the course of the year, Mueller Industries, Inc shares have jumped approximately 101.48%. Shares of the company reached a 52-week high of $95.84 on 11/06/24 and a 52-week low of $44.39 on 01/17/24. A 50-day SMA is recorded $74.08, while a 200-day SMA reached $61.17. Nevertheless, trading volume fell to 1.72 million shares from 0.51 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 90.59, which, if violated, would cause prices to drop to 86.17. In the upper region, resistance lies at 97.63. The next price resistance is at 100.25. RSI (Relative Strength Index) is 83.44 on the 14-day chart, showing overbought technical sentiment. Moving Average Convergence Divergence (MACD) is at 5.69, which suggests the price will increase in the coming days. Percent R is at 3.42%, indicating bullish price movement. Stochastics %K at selling indicates that the stock is to be held.
