Swiss National Bank Buys 1,000 Shares of Mueller Industries, Inc. (NYSE:MLI)

Swiss National Bank boosted its stake in shares of Mueller Industries, Inc. (NYSE:MLI) by 0.5% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 211,800 shares of the industrial products company’s stock after buying an additional 1,000 shares during the quarter. Swiss National Bank’s holdings in Mueller Industries were worth $16,808,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Westside Investment Management Inc. bought a new position in Mueller Industries during the third quarter valued at about $41,000. SBI Securities Co. Ltd. bought a new position in Mueller Industries during the fourth quarter valued at about $47,000. Mirae Asset Global Investments Co. Ltd. bought a new position in Mueller Industries during the fourth quarter valued at about $53,000. City State Bank bought a new position in Mueller Industries during the fourth quarter valued at about $58,000. Finally, GAMMA Investing LLC grew its position in Mueller Industries by 46.7% during the fourth quarter. GAMMA Investing LLC now owns 810 shares of the industrial products company’s stock valued at $64,000 after buying an additional 258 shares during the period. Institutional investors own 94.50% of the company’s stock.

Mueller Industries Stock Down 2.5 %

Shares of NYSE:MLI opened at $79.33 on Wednesday. The firm has a market capitalization of $8.99 billion, a PE ratio of 14.94 and a beta of 0.99. Mueller Industries, Inc. has a twelve month low of $50.85 and a twelve month high of $96.81. The company has a 50-day moving average price of $80.17 and a two-hundred day moving average price of $79.19.

Mueller Industries (NYSE:MLI) last issued its earnings results on Tuesday, February 4th. The industrial products company reported $1.21 earnings per share for the quarter, topping analysts’ consensus estimates of $1.12 by $0.09. Mueller Industries had a net margin of 16.05% and a return on equity of 22.97%.

Mueller Industries Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, March 14th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.26%. The ex-dividend date is Friday, March 14th. This is a positive change from Mueller Industries’s previous quarterly dividend of $0.20. Mueller Industries’s dividend payout ratio (DPR) is currently 18.83%.

Insider Activity

In other news, Director Scott Jay Goldman sold 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 13th. The shares were sold at an average price of $79.81, for a total value of $798,100.00. Following the completion of the transaction, the director now directly owns 56,098 shares in the company, valued at approximately $4,477,181.38. This trade represents a 15.13 % 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. 2.80% of the stock is owned by company insiders.

Analyst Ratings Changes

Separately, Northcoast Research upgraded shares of Mueller Industries from a “neutral” rating to a “buy” rating and set a $105.00 target price for the company in a research report on Wednesday, December 11th.

Mueller Industries Profile

Mueller Industries, Inc manufactures and sells copper, brass, aluminum, and plastic products in the United States, the United Kingdom, Canada, South Korea, the Middle East, China, and Mexico. It operates through three segments: Piping Systems, Industrial Metals, and Climate. The Piping Systems segment offers copper tubes, fittings, line sets, and pipe nipples.