Capital Fund Management S.A. Takes $203,000 Position in Mueller Industries, Inc. (MLI)
Capital Fund Management S.A. bought a new position in Mueller Industries, Inc. (NYSE:MLI) in the third quarter, Holdings Channel reports. The firm bought 7,000 shares of the industrial products company’s stock, valued at approximately $203,000.
Several other institutional investors also recently made changes to their positions in MLI. Raymond James Financial Services Advisors Inc. purchased a new position in shares of Mueller Industries in the 2nd quarter worth approximately $203,000. First Republic Investment Management Inc. purchased a new position in shares of Mueller Industries in the 3rd quarter worth approximately $209,000. CIBC Asset Management Inc purchased a new position in shares of Mueller Industries in the 2nd quarter worth approximately $222,000. GSA Capital Partners LLP purchased a new position in shares of Mueller Industries in the 3rd quarter worth approximately $228,000. Finally, Commonwealth Bank of Australia purchased a new position in shares of Mueller Industries in the 3rd quarter worth approximately $246,000. Hedge funds and other institutional investors own 91.86% of the company’s stock.
In other Mueller Industries news, insider Gary Westermeyer acquired 2,000 shares of the company’s stock in a transaction that occurred on Monday, November 26th. The stock was bought at an average price of $23.95 per share, for a total transaction of $47,900.00. Following the acquisition, the insider now directly owns 24,292 shares in the company, valued at $581,793.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Gary S. Gladstein acquired 3,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 27th. The shares were acquired at an average price of $24.00 per share, with a total value of $72,000.00. Following the acquisition, the director now owns 110,963 shares in the company, valued at $2,663,112. The disclosure for this purchase can be found here. In the last 90 days, insiders have purchased 30,600 shares of company stock valued at $762,204. 2.80% of the stock is owned by company insiders.
Mueller Industries (NYSE:MLI) last announced its earnings results on Tuesday, October 23rd. The industrial products company reported $0.37 EPS for the quarter, missing the Zacks’ consensus estimate of $0.41 by ($0.04). The company had revenue of $645.96 million during the quarter, compared to analysts’ expectations of $583.39 million. Mueller Industries had a return on equity of 15.29% and a net margin of 3.37%. As a group, research analysts forecast that Mueller Industries, Inc. will post 1.5 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 21st. Investors of record on Friday, December 7th will be issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 1.74%. The ex-dividend date is Thursday, December 6th. Mueller Industries’s payout ratio is currently 26.85%.
A number of equities analysts have recently commented on MLI shares. TheStreet cut Mueller Industries from a “b-” rating to a “c+” rating in a report on Monday, October 29th. ValuEngine cut Mueller Industries from a “hold” rating to a “sell” rating in a report on Monday, September 17th. Boenning Scattergood reiterated a “hold” rating on shares of Mueller Industries in a report on Tuesday, October 23rd. Finally, Zacks Investment Research cut Mueller Industries from a “hold” rating to a “strong sell” rating in a report on Friday, October 26th.
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Mueller Industries Profile
Mueller Industries, Inc manufactures and sells copper, brass, aluminum, and plastic products in the United States, the United Kingdom, Canada, Asia, and Mexico. Its Piping Systems segment manufactures copper tubes and fittings, plastic fittings, line sets, and related components for water distribution system, heating system, air-conditioning, and refrigeration applications, as well as drainage, waste, and vent systems.
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