Mueller Industries, Inc. (MLI): Are Hedge Funds Right About This Stock?

We already know that not all hedge funds are bullish on the stock and some hedge funds actually cashed in their positions entirely. At the top of the heap, Joel Greenblatt’s Gotham Asset Management cashed in the biggest investment of all the investors tracked by Insider Monkey, totaling about $6.9 million in stock. George Hall’s fund, Clinton Group, also dumped its stock, about $0.6 million worth of Mueller Industries, Inc. (NYSE:MLI) shares.

Let’s now review hedge fund activity in other stocks – not necessarily in the same industry as Mueller Industries, Inc. (NYSE:MLI) but similarly valued. We will take a look at Lithia Motors Inc (NYSE:LAD), Och-Ziff Capital Management Group LLC (NYSE:OZM), DiamondRock Hospitality Company (NYSE:DRH), and Community Bank System, Inc. (NYSE:CBU). All of these stocks’ market caps match MLI’s market cap.

As you can see these stocks had an average of 13 hedge funds with bullish positions and the average amount invested in these stocks was $144 million. That figure was $250 million in MLI’s case. Lithia Motors Inc (NYSE:LAD) is the most popular stock in this table. On the other hand Community Bank System, Inc. (NYSE:CBU) is the least popular one with only 4 bullish hedge fund positions. Mueller Industries, Inc. (NYSE:MLI) is not the most popular stock in this group but hedge fund interest is still above average. This is a slightly positive signal but we’d rather spend our time researching stocks that hedge funds are piling on. In this regard LAD might be a better candidate to consider taking a long position in.

Suggested Articles:
States With The Highest Domestic Violance Rates
Most Profitable Franchises To Buy in 2015
Most Affordable Countries To Live In Europe

Disclosure: None