Zurcher Kantonalbank Zurich Cantonalbank Raises Stock Position in Mueller Industries, Inc. (NYSE:MLI)

Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Mueller Industries, Inc. (NYSE:MLI) by 140.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 23,615 shares of the industrial products company’s stock after purchasing an additional 13,782 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Mueller Industries were worth $1,113,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Fifth Third Bancorp increased its position in Mueller Industries by 124.3% during the 4th quarter. Fifth Third Bancorp now owns 527 shares of the industrial products company’s stock valued at $25,000 after purchasing an additional 292 shares during the period. Beaird Harris Wealth Management LLC purchased a new position in Mueller Industries during the 3rd quarter valued at $30,000. Adirondack Trust Co. purchased a new position in Mueller Industries during the 3rd quarter valued at $45,000. Versant Capital Management Inc increased its position in Mueller Industries by 100.0% during the 4th quarter. Versant Capital Management Inc now owns 974 shares of the industrial products company’s stock valued at $46,000 after purchasing an additional 487 shares during the period. Finally, NBC Securities Inc. purchased a new stake in shares of Mueller Industries in the 3rd quarter worth about $52,000. 94.50% of the stock is owned by hedge funds and other institutional investors.

Mueller Industries Price Performance

NYSE:MLI opened at $57.33 on Friday. The firm’s 50-day moving average price is $52.44 and its 200-day moving average price is $47.07. The company has a market capitalization of $6.51 billion, a PE ratio of 11.49 and a beta of 1.08. Mueller Industries, Inc. has a 1-year low of $34.08 and a 1-year high of $59.59.

Mueller Industries (NYSE:MLI) last announced its quarterly earnings results on Tuesday, February 6th. The industrial products company reported $1.05 earnings per share (EPS) for the quarter. The company had revenue of $732.38 million for the quarter. Mueller Industries had a net margin of 17.22% and a return on equity of 24.69%.

Mueller Industries Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 15th were paid a $0.20 dividend. This is a boost from Mueller Industries’s previous quarterly dividend of $0.15. The ex-dividend date was Thursday, March 14th. This represents a $0.80 dividend on an annualized basis and a yield of 1.40%. Mueller Industries’s payout ratio is presently 16.03%.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on MLI shares. Northcoast Research reaffirmed a “neutral” rating on shares of Mueller Industries in a research report on Friday, January 19th. StockNews.com downgraded shares of Mueller Industries from a “buy” rating to a “hold” rating in a research report on Monday, January 22nd.

Insider Buying and Selling

In related news, CFO Jeffrey Andrew Martin sold 47,280 shares of the company’s stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $49.25, for a total value of $2,328,540.00. Following the transaction, the chief financial officer now owns 370,840 shares in the company, valued at approximately $18,263,870. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, Director John B. Hansen sold 4,000 shares of the company’s stock in a transaction dated Thursday, April 25th. The shares were sold at an average price of $57.29, for a total value of $229,160.00. Following the transaction, the director now owns 104,214 shares in the company, valued at approximately $5,970,420.06. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Jeffrey Andrew Martin sold 47,280 shares of the company’s stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $49.25, for a total transaction of $2,328,540.00. Following the completion of the transaction, the chief financial officer now owns 370,840 shares in the company, valued at approximately $18,263,870. The disclosure for this sale can be found here. Insiders have sold a total of 56,280 shares of company stock worth $2,804,350 in the last quarter. Corporate insiders own 2.80% of the company’s stock.

About Mueller Industries

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.