R Squared Ltd Invests $279,000 in Mueller Industries, Inc. $MLI

R Squared Ltd acquired a new stake in Mueller Industries, Inc. (NYSE:MLI - Free Report) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 3,510 shares of the industrial products company's stock, valued at approximately $279,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in MLI. Nuveen LLC purchased a new stake in Mueller Industries in the first quarter valued at approximately $54,072,000. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in Mueller Industries in the second quarter valued at approximately $54,751,000. AQR Capital Management LLC lifted its stake in Mueller Industries by 329.0% in the first quarter. AQR Capital Management LLC now owns 588,428 shares of the industrial products company's stock valued at $43,926,000 after buying an additional 451,261 shares during the last quarter. Epoch Investment Partners Inc. lifted its stake in Mueller Industries by 222.8% in the first quarter. Epoch Investment Partners Inc. now owns 597,704 shares of the industrial products company's stock valued at $45,509,000 after buying an additional 412,564 shares during the last quarter. Finally, TD Asset Management Inc purchased a new stake in Mueller Industries in the first quarter valued at approximately $18,114,000. Hedge funds and other institutional investors own 94.50% of the company's stock.

Insiders Place Their Bets

In related news, Director John B. Hansen sold 1,000 shares of the company's stock in a transaction on Thursday, October 23rd. The stock was sold at an average price of $105.71, for a total transaction of $105,710.00. Following the transaction, the director owned 91,664 shares of the company's stock, valued at $9,689,801.44. This represents a 1.08% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 2.70% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Separately, Weiss Ratings reiterated a "buy (b)" rating on shares of Mueller Industries in a research note on Saturday. Two research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, Mueller Industries has an average rating of "Buy" and an average price target of $105.00.

Mueller Industries Price Performance

Mueller Industries stock opened at $102.98 on Friday. Mueller Industries, Inc. has a 12 month low of $66.84 and a 12 month high of $106.28. The business has a 50 day simple moving average of $98.35 and a 200-day simple moving average of $86.08. The stock has a market capitalization of $11.43 billion, a PE ratio of 15.37 and a beta of 1.02.

Mueller Industries (NYSE:MLI - Get Free Report) last released its quarterly earnings results on Tuesday, October 21st. The industrial products company reported $1.88 EPS for the quarter, missing the consensus estimate of $1.99 by ($0.11). Mueller Industries had a return on equity of 25.02% and a net margin of 18.10%.The company had revenue of $1.08 billion for the quarter, compared to analysts' expectations of $942.00 million. During the same quarter last year, the company earned $1.48 EPS. Mueller Industries's revenue for the quarter was up 8.0% compared to the same quarter last year.

Mueller Industries Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 19th. Investors of record on Friday, September 5th were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date of this dividend was Friday, September 5th. Mueller Industries's dividend payout ratio is currently 14.93%.

Mueller Industries 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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