MLI Stock Summary and Trading Ideas (Mueller Industries | NYSE:MLI)

Mueller Industries Inc makes copper, brass, aluminum, and plastic products. The company reports three business segments: piping systems, industrial metals, and climate. Piping systems, earning majority of the company's revenue, produces tubes, fittings, rods, valves, and other products and operates various firms world-wide. The industrial metals segment manufactures impacts and micro-gauge, brass rod and copper bar products, and brass value-added products. The climate segment produces items used to create temperature-control goods, including valves, twisted tubes, coaxial heat exchangers, and others. Numerous systems use the aforementioned products, including HVAC, water distribution, refrigeration, and automotive.

Mueller Industries trades on the NYSE stock market under the symbol MLI.

As of May 8, 2024, MLI stock price declined to $57.96 with 142,788 million shares trading.

MLI has a beta of 0.82, meaning it tends to be less sensitive to market movements. MLI has a correlation of 0.14 to the broad based SPY ETF.

MLI has a market cap of $6.58 billion. This is considered a Mid Cap stock.

Last quarter Mueller Industries reported $850 million in Revenue and $1.21 earnings per share. This fell short of revenue expectation by $-24 million and exceeded earnings estimates by $.16.

In the last 3 years, MLI stock traded as high as $59.59 and as low as $19.50.

The top ETF exchange traded funds that MLI belongs to (by Net Assets): IJR, RDVY, CALF, VTI, IWM.

MLI has outperformed the market in the last year with a return of +57.4%, while the SPY ETF gained +26.8%. In the last 3 month period, MLI beat the market returning +18.7%, while SPY returned +4.0%. However, in the most recent 2 weeks MLI has underperformed the stock market by returning +0.9%, while SPY returned +2.1%.

MLI support price is $57.56 and resistance is $59.74 (based on 1 day standard deviation move). This means that using the most recent 20 day stock volatility and applying a one standard deviation move around the stock's closing price, stastically there is a 67% probability that MLI stock will trade within this expected range on the day.