Ruffer LLP Sells 22,088 Shares of Mueller Industries, Inc. $MLI

Ruffer LLP reduced its holdings in shares of Mueller Industries, Inc. (NYSE:MLI) by 31.5% in the third quarter, HoldingsChannel reports. The fund owned 47,988 shares of the industrial products company’s stock after selling 22,088 shares during the period. Ruffer LLP’s holdings in Mueller Industries were worth $4,852,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of MLI. Root Financial Partners LLC purchased a new stake in shares of Mueller Industries in the 3rd quarter worth approximately $38,000. Employees Retirement System of Texas bought a new stake in Mueller Industries in the second quarter worth $34,000. Northwestern Mutual Wealth Management Co. boosted its holdings in Mueller Industries by 108.8% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 501 shares of the industrial products company’s stock worth $40,000 after acquiring an additional 261 shares in the last quarter. True Wealth Design LLC increased its holdings in shares of Mueller Industries by 5,691.7% during the third quarter. True Wealth Design LLC now owns 695 shares of the industrial products company’s stock valued at $70,000 after acquiring an additional 683 shares in the last quarter. Finally, Steward Partners Investment Advisory LLC purchased a new position in shares of Mueller Industries in the 2nd quarter worth about $79,000. Hedge funds and other institutional investors own 94.50% of the company’s stock.

Insider Buying and Selling

In other Mueller Industries news, Director Scott Jay Goldman sold 4,234 shares of the stock in a transaction dated Tuesday, November 25th. The stock was sold at an average price of $108.64, for a total value of $459,981.76. Following the transaction, the director owned 41,745 shares of the company’s stock, valued at approximately $4,535,176.80. This represents a 9.21% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 2.70% of the company’s stock.

Analysts Set New Price Targets

Separately, Weiss Ratings restated a “buy (b)” rating on shares of Mueller Industries in a research note on Thursday, January 22nd. One investment analyst has rated the stock with a Buy rating, According to MarketBeat, Mueller Industries has an average rating of “Buy”.

Mueller Industries Stock Up 0.0%

Shares of MLI stock opened at $134.48 on Thursday. The firm has a market capitalization of $14.93 billion, a PE ratio of 20.07 and a beta of 1.04. The company has a 50 day moving average price of $118.66 and a 200-day moving average price of $104.60. Mueller Industries, Inc. has a 52 week low of $66.84 and a 52 week high of $135.66.

Mueller Industries Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, December 19th. Stockholders of record on Friday, December 5th were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date was Friday, December 5th. Mueller Industries’s dividend payout ratio (DPR) is 14.93%.

Mueller Industries 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.