164,130 Shares in Mueller Industries, Inc. $MLI Purchased by WINTON GROUP Ltd

WINTON GROUP Ltd bought a new position in shares of Mueller Industries, Inc. (NYSE:MLIFree Report) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 164,130 shares of the industrial products company’s stock, valued at approximately $20,177,000. Mueller Industries comprises about 0.6% of WINTON GROUP Ltd’s investment portfolio, making the stock its 21st largest holding. WINTON GROUP Ltd owned 0.07% of Mueller Industries as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of MLI. Engineers Gate Manager LP grew its holdings in shares of Mueller Industries by 169.1% in the second quarter. Engineers Gate Manager LP now owns 35,950 shares of the industrial products company’s stock valued at $4,419,000 after purchasing an additional 22,590 shares during the period. NewEdge Advisors LLC lifted its holdings in Mueller Industries by 13.6% in the second quarter. NewEdge Advisors LLC now owns 25,501 shares of the industrial products company’s stock valued at $3,135,000 after acquiring an additional 3,045 shares during the last quarter. IFP Advisors Inc grew its position in Mueller Industries by 17.2% in the second quarter. IFP Advisors Inc now owns 14,198 shares of the industrial products company’s stock worth $1,745,000 after acquiring an additional 2,088 shares during the period. Baird Financial Group Inc. increased its stake in Mueller Industries by 2.2% during the second quarter. Baird Financial Group Inc. now owns 35,109 shares of the industrial products company’s stock worth $4,316,000 after acquiring an additional 745 shares during the last quarter. Finally, Allworth Financial LP raised its position in Mueller Industries by 5.8% in the second quarter. Allworth Financial LP now owns 5,222 shares of the industrial products company’s stock valued at $642,000 after purchasing an additional 286 shares during the period. Hedge funds and other institutional investors own 94.50% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on MLI shares. Northcoast Research upgraded Mueller Industries from a “neutral” rating to a “buy” rating and set a $75.00 price target for the company in a report on Thursday, July 16th. Weiss Ratings reissued a “buy (b)” rating on shares of Mueller Industries in a research note on Friday, July 17th. Finally, Wall Street Zen cut shares of Mueller Industries from a “strong-buy” rating to a “buy” rating in a research report on Saturday, July 25th. Two investment analysts have rated the stock with a Buy rating, According to MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $75.00.

Read Our Latest Analysis on MLI

Insider Activity at Mueller Industries

In other Mueller Industries news, Director John B. Hansen sold 2,444 shares of Mueller Industries stock in a transaction dated Tuesday, August 4th. The stock was sold at an average price of $67.72, for a total transaction of $165,507.68. Following the completion of the sale, the director directly owned 181,328 shares of the company’s stock, valued at $12,279,532.16. The trade was a 1.33% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Scott Goldman sold 2,000 shares of the company’s stock in a transaction dated Thursday, August 27th. The stock was sold at an average price of $64.08, for a total value of $128,160.00. Following the transaction, the director directly owned 79,734 shares of the company’s stock, valued at approximately $5,109,354.72. This represents a 2.45% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 275,444 shares of company stock valued at $18,885,398 over the last quarter. 2.30% of the stock is owned by insiders.

Mueller Industries Stock Performance

MLI stock opened at $63.75 on Thursday. The company’s 50 day moving average price is $62.92 and its 200 day moving average price is $62.81. Mueller Industries, Inc. has a fifty-two week low of $47.63 and a fifty-two week high of $71.12. The firm has a market capitalization of $14.10 billion, a price-to-earnings ratio of 16.60 and a beta of 1.10.

Mueller Industries (NYSE:MLIGet Free Report) last issued its quarterly earnings results on Tuesday, July 21st. The industrial products company reported $1.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.09 by $0.04. Mueller Industries had a net margin of 18.25% and a return on equity of 25.68%. The company had revenue of $1.43 billion during the quarter, compared to the consensus estimate of $1.27 billion. During the same quarter in the previous year, the firm earned $1.96 earnings per share. The firm’s quarterly revenue was up 25.5% on a year-over-year basis.

Mueller Industries Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 18th. Investors of record on Friday, September 4th will be paid a dividend of $0.175 per share. The ex-dividend date is Friday, September 4th. This represents a $0.70 dividend on an annualized basis and a dividend yield of 1.1%. Mueller Industries’s payout ratio is presently 18.23%.

Mueller Industries Profile

(Free Report)

Mueller Industries, Inc is a diversified manufacturer and marketer of copper, brass, aluminum and plastic products. Headquartered in Memphis, Tennessee, the company serves a wide range of markets including HVAC (heating, ventilation and air conditioning), refrigeration, plumbing, industrial gas, automotive and agricultural sectors. Its product portfolio encompasses copper and plastic tubing, brass fittings, valves and related components designed for fluid handling and temperature control applications.

The company operates through multiple business segments, including the Plumbing & Refrigeration segment, which supplies copper and plastic tubing, fittings and valves for residential and commercial construction markets; the Industrial Metals & Mining segment, which provides aluminum shapes and specialty brass products for industrial applications; and the Climate segment, which focuses on copper tubing and components for air conditioning and refrigeration systems.

Further Reading

Institutional Ownership by Quarter for Mueller Industries (NYSE:MLI)

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