WINTON GROUP Ltd Invests $20.18 Million in Mueller Industries, Inc. $MLI

WINTON GROUP Ltd bought a new stake in Mueller Industries, Inc. (NYSE:MLI) in the 2nd quarter, HoldingsChannel.com reports. The firm bought 164,130 shares of the industrial products company’s stock, valued at approximately $20,177,000. Mueller Industries makes up approximately 0.6% of WINTON GROUP Ltd’s investment portfolio, making the stock its 21st largest holding.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Susquehanna Fundamental Investments LLC grew its stake in Mueller Industries by 60.3% during the 2nd quarter. Susquehanna Fundamental Investments LLC now owns 90,342 shares of the industrial products company’s stock worth $11,106,000 after buying an additional 33,981 shares during the last quarter. MUFG Securities EMEA plc purchased a new stake in Mueller Industries in the fourth quarter valued at approximately $15,268,000. The Manufacturers Life Insurance Company acquired a new stake in shares of Mueller Industries in the second quarter valued at approximately $9,645,000. Legal & General Group Plc acquired a new stake in shares of Mueller Industries in the second quarter valued at approximately $19,023,000. Finally, Barlow Wealth Partners LLC grew its position in shares of Mueller Industries by 82.9% during the second quarter. Barlow Wealth Partners LLC now owns 463,736 shares of the industrial products company’s stock worth $57,007,000 after acquiring an additional 210,169 shares during the last quarter. 94.50% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Mueller Industries news, Director Scott Goldman sold 2,000 shares of the stock in a transaction on Thursday, August 27th. The stock was sold at an average price of $64.08, for a total value of $128,160.00. Following the completion of the transaction, the director owned 79,734 shares in the company, valued at approximately $5,109,354.72. This represents a 2.45% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Gregory Christopher sold 200,000 shares of the business’s stock in a transaction on Tuesday, August 11th. The stock was sold at an average price of $68.44, for a total transaction of $13,688,000.00. Following the sale, the chief executive officer owned 1,598,850 shares in the company, valued at $109,425,294. The trade was a 11.12% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 275,444 shares of company stock valued at $18,885,398 over the last quarter. Company insiders own 2.30% of the company’s stock.

Mueller Industries Stock Up 0.3%

Shares of Mueller Industries stock opened at $63.75 on Thursday. The firm has a market cap of $14.10 billion, a price-to-earnings ratio of 16.60 and a beta of 1.10. Mueller Industries, Inc. has a 52-week low of $47.63 and a 52-week high of $71.12. The company’s 50-day simple moving average is $62.92 and its 200-day simple moving average is $62.81.

Mueller Industries (NYSE:MLI) last announced its quarterly earnings data on Tuesday, July 21st. The industrial products company reported $1.13 EPS for the quarter, beating 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 firm had revenue of $1.43 billion during the quarter, compared to the consensus estimate of $1.27 billion. During the same quarter last year, the firm earned $1.96 earnings per share. The firm’s revenue was up 25.5% compared to the same quarter last year.

Mueller Industries Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 18th. Investors of record on Friday, September 4th will be paid a $0.175 dividend. 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 18.23%.

Analysts Set New Price Targets

Several research firms recently commented on MLI. Weiss Ratings reiterated a “buy (b)” rating on shares of Mueller Industries in a research report on Friday, July 17th. Northcoast Research raised shares of Mueller Industries from a “neutral” rating to a “buy” rating and set a $75.00 price objective on the stock in a research report on Thursday, July 16th. Finally, Wall Street Zen lowered shares of Mueller Industries from a “strong-buy” rating to a “buy” rating in a research note on Saturday, July 25th. Two investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat, Mueller Industries has a consensus rating of “Buy” and an average price target of $75.00.

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.