Swiss National Bank Lowers Position in Mueller Industries, Inc. $MLI

Swiss National Bank trimmed its position in Mueller Industries, Inc. (NYSE:MLI) by 1.8% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 205,500 shares of the industrial products company’s stock after selling 3,800 shares during the period. Swiss National Bank owned about 0.19% of Mueller Industries worth $16,331,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in MLI. CWM LLC increased its stake in shares of Mueller Industries by 27.8% during the 1st quarter. CWM LLC now owns 1,177 shares of the industrial products company’s stock worth $90,000 after purchasing an additional 256 shares during the last quarter. Private Advisor Group LLC grew its stake in Mueller Industries by 12.5% during the first quarter. Private Advisor Group LLC now owns 5,939 shares of the industrial products company’s stock valued at $452,000 after acquiring an additional 662 shares in the last quarter. Cetera Investment Advisers increased its holdings in shares of Mueller Industries by 11.8% in the first quarter. Cetera Investment Advisers now owns 17,581 shares of the industrial products company’s stock worth $1,339,000 after purchasing an additional 1,849 shares during the period. TD Asset Management Inc purchased a new stake in shares of Mueller Industries in the 1st quarter valued at about $18,114,000. Finally, HB Wealth Management LLC bought a new position in shares of Mueller Industries in the 1st quarter worth $299,000. 94.50% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Mueller Industries in a research note on Wednesday, October 8th. Two research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $105.00.

Mueller Industries Stock Up 0.5%

NYSE MLI opened at $110.40 on Thursday. Mueller Industries, Inc. has a twelve month low of $66.84 and a twelve month high of $111.39. The firm has a market capitalization of $12.26 billion, a PE ratio of 16.48 and a beta of 1.04. The stock’s 50 day moving average is $103.37 and its 200 day moving average is $91.57.

Mueller Industries (NYSE:MLI) last announced its quarterly earnings data on Tuesday, October 21st. The industrial products company reported $1.88 earnings per share for the quarter, missing analysts’ consensus estimates of $1.99 by ($0.11). The business had revenue of $1.08 billion during the quarter, compared to analysts’ expectations of $942.00 million. Mueller Industries had a return on equity of 25.02% and a net margin of 18.10%.Mueller Industries’s revenue for the quarter was up 8.0% compared to the same quarter last year. During the same quarter last year, the company posted $1.48 EPS.

Mueller Industries Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 19th. Shareholders of record on Friday, December 5th will be paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date is Friday, December 5th. Mueller Industries’s dividend payout ratio (DPR) is currently 14.93%.

Insider Buying and Selling

In other Mueller Industries news, CEO Gregory L. Christopher sold 158,000 shares of the stock in a transaction on Thursday, October 23rd. The stock was sold at an average price of $104.32, for a total transaction of $16,482,560.00. Following the sale, the chief executive officer directly owned 1,119,241 shares in the company, valued at approximately $116,759,221.12. This trade represents a 12.37% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director John B. Hansen sold 1,000 shares of the stock in a transaction on Thursday, October 23rd. The shares were sold at an average price of $105.71, for a total value of $105,710.00. Following the sale, the director directly owned 91,664 shares in the company, valued at $9,689,801.44. This trade represents a 1.08% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 355,234 shares of company stock worth $36,944,652 in the last three months. Insiders own 2.70% of the company’s stock.

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.