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

Zurcher Kantonalbank Zurich Cantonalbank grew its position in Mueller Industries, Inc. (NYSE:MLI - Free Report) by 18.7% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 29,001 shares of the industrial products company's stock after buying an additional 4,563 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank's holdings in Mueller Industries were worth $2,302,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. State Street Corp raised its position in shares of Mueller Industries by 3.2% in the 3rd quarter. State Street Corp now owns 4,451,143 shares of the industrial products company's stock valued at $329,830,000 after buying an additional 139,406 shares in the last quarter. Flagship Harbor Advisors LLC acquired a new position in Mueller Industries during the 4th quarter worth approximately $300,000. Merit Financial Group LLC acquired a new position in Mueller Industries during the 4th quarter worth approximately $287,000. Rhumbline Advisers increased its position in Mueller Industries by 13.7% during the 4th quarter. Rhumbline Advisers now owns 364,095 shares of the industrial products company's stock worth $28,895,000 after purchasing an additional 43,893 shares in the last quarter. Finally, US Bancorp DE increased its position in Mueller Industries by 3.0% during the 4th quarter. US Bancorp DE now owns 18,278 shares of the industrial products company's stock worth $1,451,000 after purchasing an additional 537 shares in the last quarter. 94.50% of the stock is currently owned by institutional investors and hedge funds.

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Mueller Industries Trading Down 2.4 %

MLI traded down $1.98 during trading on Thursday, reaching $79.47. 758,869 shares of the company's stock were exchanged, compared to its average volume of 822,333. Mueller Industries, Inc. has a one year low of $50.85 and a one year high of $96.81. The stock has a market capitalization of $9.00 billion, a PE ratio of 14.97 and a beta of 0.99. The firm has a fifty day moving average price of $80.20 and a two-hundred day moving average price of $79.21.

Mueller Industries (NYSE:MLI - Get Free Report) last posted its quarterly earnings data on Tuesday, February 4th. The industrial products company reported $1.21 EPS for the quarter, beating 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 business also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Investors 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 dividend yield of 1.26%. The ex-dividend date is Friday, March 14th. This is an increase from Mueller Industries's previous quarterly dividend of $0.20. Mueller Industries's payout ratio is presently 18.83%.

Insider Activity at Mueller Industries

In related news, Director Scott Jay Goldman sold 10,000 shares of the business's stock in a transaction on Thursday, February 13th. The shares were sold at an average price of $79.81, for a total transaction of $798,100.00. Following the transaction, the director now owns 56,098 shares in the company, valued at $4,477,181.38. The trade was a 15.13 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 2.80% of the stock is owned by corporate 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 price objective for the company in a research report on Wednesday, December 11th.

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.