Update: Mueller Industries Shares Rise After Higher Fiscal Q2 Results, Northcoast Research Upgrade

MT Newswires Live07-22

(Updates with share movement and analyst upgrade in the headline and first paragraph.)

Mueller Industries (MLI) shares were up 5.1% in Tuesday afternoon trading after the company posted higher fiscal Q2 results, and Northcoast Research upgraded the stock to buy from neutral, with a $75 price target.

The company reported fiscal Q2 earnings Tuesday of $1.13 per diluted share, up from $1.11 a year earlier.

A single analyst polled by FactSet expected $1.02.

Net sales for the quarter ended June 27 were $1.43 billion, compared with $1.14 billion a year earlier.

One analyst expected $1.27 billion.

Price: 62.00, Change: +3.03, Percent Change: +5.14

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