Analysts predict earnings this quarter will likely be disappointing. However, the future looks more promising. Analysts predict increased demand for building materials in the US and Europe, benefiting suppliers like Mueller. These partnerships should expand inventories and product line while reducing manufacturing costs and corporate overhead. No surprise then, that many analysts recommend the stock as a value buy.
Some insiders seem to agree, and are taking advantage of the discount prices, picking up shares.
From November 16 to December 10, five insiders acquired 48,100 shares. Chairman Harvey Karp picked up 10,000 shares. It is interesting to note that both insiders purchased shares after the stock began its rebound. Three other insiders exercised derivative security options before and after the issue's rebound. EVP, CFO Earl Bunkers exercised options for 6,400 shares and VP, CIO Richard Miller exercised options for 2,000 shares.