Mueller Industries Inc. stock trades under the ticker MLI & has shown recent bullishness that traders & investors should look into for when market volatility has cooled down.
MLI stock closed at $69.27/share on 4/24/2023.
Mueller Industries Inc. MLI Stock’s Technical Performance Broken Down
MLI Stock Price: $69.27
10 Day Moving Average: $68.98
50 Day Moving Average: $71.64
200 Day Moving Average: $65.36
RSI: 47.14
MACD: -0.736
Yesterday, MLI stock completed a bullish MACD crossover, gaining +0.79% on the day’s session.
Recent trading volumes have been about average compared to the year prior & their RSI is neutral, as they have spent the better part of April consolidating in the $68-70/share range.
As markets are expected to remain volatile for the coming weeks, it would be wise to watch how MLI behaves around its support levels, so that a target entry level can be identified for smoother markets.
MLI has support at the $69.01, $68.98 (10 day moving average), $68.94 & $67.26/share price levels, with resistance at the $69.55, $69.87, $70.24 & $70.25/share price levels.
Mueller Industries Inc. MLI Stock As A Long-Term Investment
Long-term oriented investors will like MLI stock’s 5.93 P/E (ttm), as well as their 2.2 P/B (mrq).
They recently reported -8.2% Quarterly Revenue Growth Y-o-Y, with 10.6% Quarterly Earnings Growth Y-o-Y.
Their balance sheet looks appealing, with $678.88M of Total Cash (mrq) & $23.85M of Total Debt (mrq).
MLI pays a 1.45% dividend, which appears to be sustainable in the long-run, as their payout ratio is 8.59%.
92.27% of MLI stock’s outstanding share float is owned by institutional investors.
Mueller Industries Inc. MLI Stock As A Short-Term Trade Using Options
Traders with shorter time horizons can trade options to profit from movements in MLI stock’s price, while protecting their portfolios from volatility.
I am looking at the contracts with the 5/19 expiration date.
The $60 & $65 call options are in-the-money, with the former being more liquid than the latter strike price.
The $70, $75 & $80 puts are also in-the-money, listed from highest to lowest level of open interest.
Tying It All Together
MLI stock has many interesting characteristics that traders & investors will find appealing.
Investors will like their dividend yield, balance sheet & valuation metrics.
Traders will like their recent technical performance, but may wish their options were more liquid.
All-in-all, it is worth taking a closer look into MLI stock to see how it fits into your portfolio strategy once market volatility subsides.
*** I DO NOT OWN SHARES OR OPTIONS CONTRACT POSITIONS IN MLI STOCK AT THE TIME OF PUBLISHING THIS ARTICLE ***