Gates Capital Buys More Mueller Shares

A 13G filed with the Securities and Exchange Commission has disclosed that Gates Capital Management, a hedge fund managed by Jeffrey Gates, has increased its stake in Mueller Industries (MLI) to a total of 1.4 million shares.

The fund had reported a position of 1.1 million shares in the $1.5 billion market cap provider of metal tubes and rods (including as plumbing and refrigeration components) in its 13F filing for the first quarter of 2013. With the recent increase in its holdings, Gates owns roughly 5% of the total shares outstanding therefore triggering the filing. While Mueller had done quite well last year, the stock is about flat year to date against a rising market....492 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.

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