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Sally Jones
Sally Jones
Articles (580) 

Billionaires Bite Brass Bullet - Mario Gabelli Adds MLI 175.55%

April 16, 2013 | About:

In World War I, Mueller Industries produced brass rods for munitions. Today the company has manufacturing and distribution facilities located throughout the U.S., Canada, Mexico, Great Britain and China. With a market cap of $1.43 billion, Mueller Industries Inc. (NYSE:MLI) is a manufacturer of copper, brass, plastic and aluminum products, anything from copper tubes and fittings to aluminum and brass forgings. The company makes parts and pieces such as fittings, valves and tubes used in plumbing and HVAC/refrigeration and for industrial original equipment manufacturers (OEM).

As of April 8, 2013, Mario Gabelli increased his position with the metal fabricator by 175.55%; his price range was around $51.6. Gabelli currently holds 813,801 MLI shares after the trade. The current stock price is $51.04. MLI stock is up 12% over the last 12 months. The P/E ratio is 21.9, the P/B is 2.8, and the3 P/S is 0.8139.

One of the top MLI stakeholders, second only to Ken Fisher, Gabelli has been trading MLI since fourth quarter 2008 at which time he bought 139,000 shares at an average price of $21.08, making a 142.1% gain. Since that time his average cost is $45 per share with a 13% gain overall.

His holding history:

Guru Ken Fisher reduced his position by 38.87%with MLI as of March 31, 2013. After selling 736,007 shares at $53.02 at a 3.7% loss, Fisher is still the largest MLI stakeholder with 931,566 shares. Ken Fisher first bought MLI in the second quarter of 2008. Since that time, his average price for shares bought is $25.98 per share with a 96% gain. For shares sold, his average price is $43.48 per share, with a 17% gain.

His holding history:

Columnist, author and Guru Ken Fisher of Fisher Asset Management LLC currently lists a portfolio with 483 stocks and a total value of $37.6 billion and a quarter-over-quarter turnover of 8%.

Of Bronx fame, Mario Gabelli is founder of GAMCO Investors Inc., a well-known diversified asset manager and financial services company. In a recent update, the GAMCO portfolio lists 792 stocks valued at $13.6 billion, with a quarter-over-quarter turnover of 6%.

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About the author:

Sally Jones
Sally Jones writes about Real Time Picks. She says, "I truly enjoy watching the Gurus in realtime and telling their story."

Rating: 4.7/5 (3 votes)


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GuruFocus has detected 2 Warning Signs with Mueller Industries Inc $MLI.
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