Magnetar Financial LLC Buys Shares of 5,886 Mueller Industries, Inc. (MLI)
Magnetar Financial LLC bought a new stake in shares of Mueller Industries, Inc. (NYSE:MLI) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 5,886 shares of the industrial products company’s stock, valued at approximately $206,000.
Other large investors have also made changes to their positions in the company. GABELLI & Co INVESTMENT ADVISERS INC. acquired a new position in Mueller Industries during the 3rd quarter valued at about $227,000. Raymond James Financial Services Advisors Inc. acquired a new position in Mueller Industries during the 2nd quarter valued at about $206,000. Amalgamated Bank increased its position in Mueller Industries by 5.2% during the 2nd quarter. Amalgamated Bank now owns 7,949 shares of the industrial products company’s stock valued at $242,000 after buying an additional 394 shares in the last quarter. Cubist Systematic Strategies LLC purchased a new stake in Mueller Industries during the 2nd quarter valued at about $266,000. Finally, Ramsey Quantitative Systems purchased a new stake in Mueller Industries during the 2nd quarter valued at about $272,000. 90.17% of the stock is currently owned by institutional investors.
Mueller Industries, Inc. (NYSE:MLI) traded down $0.02 during trading on Friday, reaching $35.31. The company’s stock had a trading volume of 666,856 shares, compared to its average volume of 124,675. The company has a current ratio of 2.83, a quick ratio of 1.67 and a debt-to-equity ratio of 0.73. The stock has a market cap of $2,040.08, a P/E ratio of 20.88 and a beta of 1.41. Mueller Industries, Inc. has a twelve month low of $27.72 and a twelve month high of $43.96.
Mueller Industries (NYSE:MLI) last posted its quarterly earnings results on Tuesday, October 24th. The industrial products company reported $0.39 earnings per share for the quarter. The business had revenue of $550.36 million for the quarter. Mueller Industries had a return on equity of 15.68% and a net margin of 4.39%.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 22nd. Shareholders of record on Friday, December 1st will be paid a dividend of $0.10 per share. The ex-dividend date is Thursday, November 30th. This represents a $0.40 annualized dividend and a yield of 1.13%. Mueller Industries’s payout ratio is presently 23.67%.
In other Mueller Industries news, Director John B. Hansen sold 2,000 shares of the business’s stock in a transaction dated Monday, October 30th. The stock was sold at an average price of $33.15, for a total transaction of $66,300.00. Following the sale, the director now owns 45,607 shares in the company, valued at approximately $1,511,872.05. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Charles P. Herzog, Jr. purchased 3,624 shares of the company’s stock in a transaction on Friday, October 27th. The shares were purchased at an average price of $34.72 per share, for a total transaction of $125,825.28. Following the purchase, the director now owns 3,624 shares in the company, valued at approximately $125,825.28. The disclosure for this purchase can be found here. 2.79% of the stock is currently owned by insiders.
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About Mueller Industries
Mueller Industries, Inc is a manufacturer of copper, brass, aluminum and plastic products. The Company operates through three segments: Piping Systems, Industrial Metals and Climate. The Company’s products include copper tube and fittings; line sets; brass and copper alloy rod, bar, and shapes; aluminum and brass forgings; aluminum impact extrusions; plastic fittings and valves; refrigeration valves and fittings; fabricated tubular products, and steel nipples.
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