Mueller Industries, Inc. (MLI) Forms Multiple Bottom; Strong Momentum for Sellers

November 21, 2017 - By Adrian Mccoy

Investors sentiment increased to 1.35 in 2017 Q2. Its up 0.08, from 1.27 in 2017Q1. It improved, as 22 investors sold Mueller Industries, Inc. shares while 38 reduced holdings. 25 funds opened positions while 56 raised stakes. 52.34 million shares or 0.76% more from 51.94 million shares in 2017Q1 were reported.
Voya Invest Mgmt holds 0% of its portfolio in Mueller Industries, Inc. (NYSE:MLI) for 25,470 shares. First Advsrs Lp reported 0.02% stake. Comerica National Bank holds 0.01% of its portfolio in Mueller Industries, Inc. (NYSE:MLI) for 60,282 shares. 5,085 are held by Royal Savings Bank Of Canada. Pub Employees Retirement System Of Ohio holds 0% or 18,151 shares in its portfolio. Zebra Cap Mngmt reported 0.11% in Mueller Industries, Inc. (NYSE:MLI). Citadel holds 0% or 100,420 shares. Nationwide Fund reported 135,153 shares. 46 are owned by Denali Advsr Ltd Liability. Prudential, New Jersey-based fund reported 331,358 shares. Thrivent For Lutherans holds 0.01% of its portfolio in Mueller Industries, Inc. (NYSE:MLI) for 49,170 shares. Gamco Invsts Et Al invested 0.77% of its portfolio in Mueller Industries, Inc. (NYSE:MLI). Aqr Management Limited Liability Company reported 0.01% of its portfolio in Mueller Industries, Inc. (NYSE:MLI). Ameriprise Fincl Inc accumulated 731,000 shares. Fisher Asset Ltd Liability Com holds 0.05% or 1.20M shares in its portfolio.

The stock of Mueller Industries, Inc. (MLI) shows a multiple bottoms pattern with $31.03 target or 9.00 % below today’s $34.10 share price. The 7 months chart pattern indicates high risk for the $1.97B company. It was reported on Nov, 21 by Finviz.com. If the $31.03 price target is reached, the company will be worth $177.30 million less.
Multiple bottoms are very good trading chart patterns. These patterns have a low break even failure rate and decent average rise in a bull market, giving them a solid performance rank. Back-tests of such patterns show that the break even failure rate is 4%, the average rise: 37%, the throwback rate: 64% and the percentage of stocks meeting their price targets: 64%.

The stock increased 1.16% or $0.39 during the last trading session, reaching $34.1. About shares traded. Mueller Industries, Inc. (NYSE:MLI) has risen 3.10% since November 21, 2016 and is uptrending. It has underperformed by 13.60% the S&P500.

More notable recent Mueller Industries, Inc. (NYSE:MLI) news were published by: Bizjournals.com which released: “Memphis public company makes acquisitions in Canada” on June 06, 2017, also Nasdaq.com with their article: “Mueller Industries Inc. Reports Third Quarter 2017 Earnings” published on October 24, 2017, Twst.com published: “Mueller Industries Inc.: Mueller Industries Inc. Declares Cash Dividend for …” on November 13, 2017. More interesting news about Mueller Industries, Inc. (NYSE:MLI) were released by: Seekingalpha.com and their article: “Mueller? Mueller!” published on September 06, 2017 as well as Nasdaq.com‘s news article titled: “Mueller Industries, Inc. (MLI) Ex-Dividend Date Scheduled for August 31, 2017” with publication date: August 30, 2017.

Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with our FREE daily email newsletter.