70,076 Shares in Mueller Industries, Inc. $MLI Bought by Ruffer LLP

Key Points

• Ruffer LLP has acquired a new stake in Mueller Industries, Inc., purchasing 70,076 shares valued at approximately $5.57 million, representing about 0.06% ownership of the company.
• Mueller Industries reported $1.96 earnings per share for the last quarter, exceeding analyst expectations and reflecting a 14.1% year-over-year revenue increase with total revenue of $1.14 billion.
• The company declared a quarterly dividend of $0.25 per share, with a payout ratio of 15.87%, translating to an annualized dividend yield of 1.0%.

Ruffer LLP purchased a new position in Mueller Industries, Inc. (NYSE:MLI - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 70,076 shares of the industrial products company's stock, valued at approximately $5,569,000. Ruffer LLP owned approximately 0.06% of Mueller Industries as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Golden State Wealth Management LLC grew its holdings in shares of Mueller Industries by 103.1% during the first quarter. Golden State Wealth Management LLC now owns 331 shares of the industrial products company's stock worth $25,000 after buying an additional 168 shares in the last quarter. Brooklyn Investment Group grew its holdings in shares of Mueller Industries by 267.3% during the first quarter. Brooklyn Investment Group now owns 382 shares of the industrial products company's stock worth $29,000 after buying an additional 278 shares in the last quarter. Rise Advisors LLC purchased a new stake in shares of Mueller Industries during the first quarter worth $30,000. Wayfinding Financial LLC purchased a new stake in shares of Mueller Industries during the first quarter worth $34,000. Finally, Opal Wealth Advisors LLC purchased a new stake in shares of Mueller Industries during the first quarter worth $40,000. Hedge funds and other institutional investors own 94.50% of the company's stock.

Insider Buying and Selling at Mueller Industries

In other Mueller Industries news, Director John B. Hansen sold 1,000 shares of the company's stock in a transaction dated Tuesday, August 12th. The shares were sold at an average price of $91.97, for a total value of $91,970.00. Following the transaction, the director owned 92,664 shares of the company's stock, valued at $8,522,308.08. This represents a 1.07% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Insiders own 2.70% of the company's stock.

Mueller Industries Stock Down 2.0%

Mueller Industries stock opened at $99.69 on Thursday. Mueller Industries, Inc. has a 52-week low of $66.84 and a 52-week high of $102.75. The firm has a market capitalization of $11.04 billion, a price-to-earnings ratio of 15.82 and a beta of 1.05. The company has a fifty day simple moving average of $92.84 and a 200-day simple moving average of $82.49.

Mueller Industries (NYSE:MLI - Get Free Report) last announced its quarterly earnings results on Tuesday, July 22nd. The industrial products company reported $1.96 earnings per share for the quarter, beating the consensus estimate of $1.62 by $0.34. The firm had revenue of $1.14 billion for the quarter, compared to analysts' expectations of $1.12 billion. Mueller Industries had a net margin of 17.48% and a return on equity of 24.47%. The company's revenue was up 14.1% on a year-over-year basis.

Mueller Industries Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, September 19th. Stockholders of record on Friday, September 5th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, September 5th. This represents a $1.00 annualized dividend and a dividend yield of 1.0%. Mueller Industries's payout ratio is presently 15.87%.

Mueller Industries Company Profile

Mueller Industries, Inc manufactures and sells copper, brass, aluminum, and plastic products in the United States, the United Kingdom, Canada, South Korea, the Middle East, China, and Mexico. It operates through three segments: Piping Systems, Industrial Metals, and Climate. The Piping Systems segment offers copper tubes, fittings, line sets, and pipe nipples.

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