Mueller Industries, Inc. (NYSE:MLI) Shares Acquired by Empirical Financial Services LLC d.b.a. Empirical Wealth Management

Empirical Financial Services LLC d.b.a. Empirical Wealth Management boosted its position in Mueller Industries, Inc. (NYSE:MLI) by 7.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 10,261 shares of the industrial products company’s stock after acquiring an additional 716 shares during the quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management’s holdings in Mueller Industries were worth $814,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Flagship Harbor Advisors LLC purchased a new stake in shares of Mueller Industries during the fourth quarter worth about $300,000. Exchange Traded Concepts LLC lifted its position in Mueller Industries by 15.5% in the 4th quarter. Exchange Traded Concepts LLC now owns 42,922 shares of the industrial products company’s stock valued at $3,406,000 after purchasing an additional 5,767 shares during the last quarter. Barlow Wealth Partners Inc. lifted its position in Mueller Industries by 8.5% in the 4th quarter. Barlow Wealth Partners Inc. now owns 222,058 shares of the industrial products company’s stock valued at $18,040,000 after purchasing an additional 17,311 shares during the last quarter. Atomi Financial Group Inc. raised its position in shares of Mueller Industries by 9.5% during the 4th quarter. Atomi Financial Group Inc. now owns 4,315 shares of the industrial products company’s stock worth $342,000 after buying an additional 374 shares in the last quarter. Finally, Merit Financial Group LLC bought a new stake in shares of Mueller Industries during the 4th quarter worth about $287,000. Institutional investors and hedge funds own 94.50% of the company’s stock.

Insider Activity at Mueller Industries

In other Mueller Industries news, Director Charles P. Herzog, Jr. sold 15,000 shares of the stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $92.04, for a total transaction of $1,380,600.00. Following the sale, the director now owns 17,733 shares of the company’s stock, valued at $1,632,145.32. This represents a 45.83 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 2.80% of the company’s stock.

Mueller Industries Stock Performance

Shares of MLI opened at $79.93 on Wednesday. The company has a market capitalization of $9.09 billion, a PE ratio of 15.52 and a beta of 1.00. The company’s 50 day moving average price is $81.12 and its 200 day moving average price is $76.19. Mueller Industries, Inc. has a 52 week low of $47.46 and a 52 week high of $96.81.

Mueller Industries Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, December 20th. Investors of record on Friday, December 6th were paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 1.00%. The ex-dividend date was Friday, December 6th. Mueller Industries’s payout ratio is currently 15.53%.

Analysts Set New Price Targets

Separately, Northcoast Research upgraded shares of Mueller Industries from a “neutral” rating to a “buy” rating and set a $105.00 target price on the stock in a 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.