Brandywine Global Investment Management LLC, a well-known investment management firm, has increased its stake in Mueller Industries, Inc. by 1.8% during the first quarter of this year. This information was disclosed in the firm’s recent filing with the Securities and Exchange Commission (SEC). After purchasing an additional 2,653 shares, Brandywine now owns 151,495 shares of Mueller Industries’ stock. At the end of the first quarter, this stake was valued at approximately $11,132,000, representing around 0.27% of Mueller Industries’ total worth.
Mueller Industries is an industrial products company listed on the New York Stock Exchange under the ticker symbol MLI. The company recently announced its quarterly earnings results on July 25th of this year. During that period, Mueller Industries reported earnings per share (EPS) of $3.12, surpassing analysts’ consensus estimates by $0.72 per share. Despite exceeding expectations in terms of EPS, Mueller Industries experienced a decline in revenue during the quarter.
The business generated $897 million in revenue for the quarter which fell short of the consensus estimate of $1.04 billion. This decrease in revenue is attributed to a 22% decline compared to the same quarter last year. Despite these challenges, Mueller Industries maintained a net margin of 17.46% and a return on equity of 33.92%. These figures indicate that even though revenue declined slightly, the company still managed to operate efficiently.
Investors and shareholders should closely monitor Mueller Industries as it navigates through market fluctuations and works towards maintaining positive financial performance. Brandywine Global Investment Management LLC’s increased stake demonstrates their confidence in the company’s potential for future growth.
As always with investing activities and securities trading, it is crucial for individuals to conduct thorough research and analysis before making any investment decisions or adjustments to their portfolios. The market can be unpredictable and subject to various factors that can impact stock prices and overall market conditions. Therefore, investors are advised to consult with financial professionals and perform their due diligence when considering investment opportunities.
In conclusion, Brandywine Global Investment Management LLC has shown faith in Mueller Industries by increasing its stake in the company during the first quarter of this year. Mueller Industries’ latest earnings report revealed impressive EPS figures but a decline in revenue compared to the previous year’s quarter. Investors should keep a close eye on the company as it strives to maintain its position in the market while adapting to changing circumstances and trends.
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Institutional Investors Show Confidence in Mueller Industries as Company Demonstrates Market Stability and Growth Potential.
Mueller Industries, a leading industrial products company, has seen recent modifications in its holdings by various institutional investors. Point72 Hong Kong Ltd recently acquired a stake in Mueller Industries during the second quarter, adding to its esteemed portfolio of investments. The new stake was valued at approximately $40,000, indicating the confidence that Point72 Hong Kong Ltd has in the company.
Federated Hermes Inc. also demonstrated their faith in Mueller Industries by increasing their position in the company by 54.9% during the third quarter. Federated Hermes Inc. now owns 841 shares of Mueller Industries’ stock with an approximate value of $50,000 after acquiring an additional 298 shares during this period.
Dark Forest Capital Management LP jumped on board during the fourth quarter with a new stake worth about $52,000 in Mueller Industries. This move showcased Dark Forest Capital Management LP’s recognition of the growth potential within the industrial products industry.
Similarly, EMC Capital Management made an investment during the fourth quarter as well, adding to Mueller Industries’ list of notable institutional investors. Their stake was valued at around $84,000 – another testament to the promising future they foresee for Mueller Industries.
First Manhattan CO. LLC., prominent institutional investors in their own right, significantly boosted their holdings in Mueller Industries by 25% during the first quarter. Owning 1,500 shares valued at $110,000 after purchasing an additional 300 shares solidifies First Manhattan CO. LLC.’s belief in the potential success of Mueller Industries.
As it stands today, approximately 94.50% of Mueller Industries’ stock is owned by institutional investors and hedge funds – a strong indication of market confidence and trust towards this industrial products company.
On Thursday morning, shares of MLI stock opened at $72.68 – a noteworthy figure that portrays stability and resilience within the market. With a market capitalization standing at an impressive $4.13 billion and a PE ratio of 6.38, Mueller Industries has managed to establish itself as a valuable player in the industry.
Tracking its performance over the past few months, the company showcases strength and consistency. The firm’s 50-day moving average stands at $80.02, demonstrating stability in recent trends. Additionally, its two-hundred-day moving average lies at $77.09 – once again highlighting the company’s robust performance in the market.
Mueller Industries recently declared a quarterly dividend that will be paid on Friday, September 15th. Stockholders who were registered as of Friday, September 1st, will receive a dividend of $0.30 per share. This translates to an annualized dividend of $1.20 and provides investors with an attractive dividend yield of 1.65%. The ex-dividend date occurred on Thursday, August 31st.
In a notable turn of events for Mueller Industries, StockNews.com upgraded their rating from “hold” to “buy.” This upgrade from an esteemed financial source reflects their positive assessment of Mueller Industries’ performance and future prospects.
Overall, Mueller Industries continues to impress both investors and analysts alike with its strong position in the industrial products market and solid financial standing. With an array of institutional investors putting their faith in the company and recent positive ratings from reputable sources like StockNews.com, it is evident that Mueller Industries is poised for further growth and success in the coming months and years ahead.
