Ruffer LLP Cuts Holdings in Mueller Industries, Inc. $MLI

Ruffer LLP decreased its stake in Mueller Industries, Inc. (NYSE:MLI) by 31.5% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 47,988 shares of the industrial products company’s stock after selling 22,088 shares during the period. Ruffer LLP’s holdings in Mueller Industries were worth $4,852,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. NewEdge Advisors LLC raised its position in Mueller Industries by 10.7% during the first quarter. NewEdge Advisors LLC now owns 14,722 shares of the industrial products company’s stock valued at $1,121,000 after purchasing an additional 1,420 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in shares of Mueller Industries by 1.5% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 230,671 shares of the industrial products company’s stock valued at $17,563,000 after buying an additional 3,316 shares in the last quarter. Acadian Asset Management LLC bought a new stake in Mueller Industries in the 1st quarter worth approximately $524,000. Wealth Enhancement Advisory Services LLC boosted its stake in Mueller Industries by 9.9% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 5,494 shares of the industrial products company’s stock worth $454,000 after buying an additional 495 shares in the last quarter. Finally, Public Employees Retirement System of Ohio grew its position in Mueller Industries by 1,345.1% during the second quarter. Public Employees Retirement System of Ohio now owns 36,157 shares of the industrial products company’s stock valued at $2,873,000 after acquiring an additional 33,655 shares during the last quarter. 94.50% of the stock is currently owned by hedge funds and other institutional investors.

Mueller Industries Stock Up 0.0%

Shares of MLI opened at $134.48 on Thursday. The stock has a market capitalization of $14.93 billion, a P/E ratio of 20.07 and a beta of 1.04. Mueller Industries, Inc. has a twelve month low of $66.84 and a twelve month high of $135.66. The firm has a fifty day simple moving average of $118.66 and a two-hundred day simple moving average of $104.60.

Mueller Industries Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 19th. Stockholders of record on Friday, December 5th were given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date was Friday, December 5th. Mueller Industries’s dividend payout ratio (DPR) is currently 14.93%.

Analysts Set New Price Targets

Separately, Weiss Ratings restated a “buy (b)” rating on shares of Mueller Industries in a report on Thursday, January 22nd. One research analyst has rated the stock with a Buy rating, According to data from MarketBeat, the stock currently has a consensus rating of “Buy”.

Insider Buying and Selling

In related news, Director Scott Jay Goldman sold 4,234 shares of Mueller Industries stock in a transaction on Tuesday, November 25th. The shares were sold at an average price of $108.64, for a total value of $459,981.76. Following the sale, the director owned 41,745 shares in the company, valued at $4,535,176.80. The trade was a 9.21% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 2.70% of the stock is owned by insiders.

Mueller Industries Company Profile

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.