Swiss National Bank decreased its position in Mueller Industries, Inc. (NYSE:MLI – Get Rating) by 0.5% in the 2nd quarter, HoldingsChannel reports. The fund owned 121,500 shares of the industrial products company’s stock after selling 600 shares during the period. Swiss National Bank’s holdings in Mueller Industries were worth $6,475,000 as of its most recent filing with the Securities & Exchange Commission.
Several other large investors have also recently added to or reduced their stakes in the company. Lazard Asset Management LLC raised its holdings in Mueller Industries by 70.3% in the 2nd quarter. Lazard Asset Management LLC now owns 3,157 shares of the industrial products company’s stock valued at $168,000 after acquiring an additional 1,303 shares in the last quarter. Eqis Capital Management Inc. raised its holdings in Mueller Industries by 64.4% in the 2nd quarter. Eqis Capital Management Inc. now owns 17,476 shares of the industrial products company’s stock valued at $931,000 after acquiring an additional 6,849 shares in the last quarter. Baird Financial Group Inc. acquired a new position in Mueller Industries in the 2nd quarter valued at approximately $800,000. Texas Permanent School Fund raised its holdings in Mueller Industries by 1.3% in the 2nd quarter. Texas Permanent School Fund now owns 41,182 shares of the industrial products company’s stock valued at $2,195,000 after acquiring an additional 511 shares in the last quarter. Finally, Pinebridge Investments L.P. raised its holdings in Mueller Industries by 182.5% in the 2nd quarter. Pinebridge Investments L.P. now owns 565 shares of the industrial products company’s stock valued at $30,000 after acquiring an additional 365 shares in the last quarter. Institutional investors and hedge funds own 90.07% of the company’s stock.
Insider Transactions at Mueller Industries
In other news, Director John B. Hansen sold 1,000 shares of the stock in a transaction that occurred on Thursday, October 20th. The stock was sold at an average price of $63.13, for a total value of $63,130.00. Following the completion of the transaction, the director now directly owns 56,885 shares of the company’s stock, valued at approximately $3,591,150.05. The sale was disclosed in a legal filing with the SEC, which is available at this link. 2.90% of the stock is currently owned by insiders.
Mueller Industries Trading Down 0.3 %
Mueller Industries Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Friday, December 16th. Stockholders of record on Friday, December 2nd will be issued a $0.25 dividend. The ex-dividend date is Thursday, December 1st. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.45%. Mueller Industries’s payout ratio is presently 8.79%.
Analyst Ratings Changes
Separately, StockNews.com initiated coverage on Mueller Industries in a report on Wednesday, October 12th. They issued a “buy” rating for the company.
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; PEX plumbing and radiant systems; and plumbing-related fittings and plastic injection tooling.
- Get a free copy of the StockNews.com research report on Mueller Industries (MLI)
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