Empirical Financial Services LLC d.b.a. Empirical Wealth Management Grows Holdings in Mueller Industries, Inc. (NYSE:MLI)

Empirical Financial Services LLC d.b.a. Empirical Wealth Management lifted its position in shares of Mueller Industries, Inc. (NYSE:MLI) by 108.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,189 shares of the industrial products company’s stock after acquiring an additional 3,736 shares during the quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management’s holdings in Mueller Industries were worth $339,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the business. Beaird Harris Wealth Management LLC acquired a new stake in Mueller Industries in the 3rd quarter valued at $30,000. Fifth Third Bancorp grew its position in shares of Mueller Industries by 124.3% in the fourth 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 in the last quarter. Larson Financial Group LLC increased its holdings in shares of Mueller Industries by 100.0% in the fourth quarter. Larson Financial Group LLC now owns 598 shares of the industrial products company’s stock valued at $28,000 after purchasing an additional 299 shares during the last quarter. Adirondack Trust Co. acquired a new position in Mueller Industries during the third quarter worth $45,000. Finally, NBC Securities Inc. purchased a new position in shares of Mueller Industries during the 3rd quarter worth $52,000. 94.50% of the stock is currently owned by institutional investors and hedge funds.

Mueller Industries Trading Up 0.9 %

Mueller Industries stock opened at $58.86 on Friday. The firm has a market capitalization of $6.69 billion, a P/E ratio of 11.80 and a beta of 1.08. The stock’s fifty day simple moving average is $53.84 and its 200-day simple moving average is $47.83. Mueller Industries, Inc. has a twelve month low of $34.96 and a twelve month high of $59.59.

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

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. The ex-dividend date was Thursday, March 14th. This represents a $0.80 dividend on an annualized basis and a yield of 1.36%. This is an increase from Mueller Industries’s previous quarterly dividend of $0.15. Mueller Industries’s payout ratio is currently 16.03%.

Insider Buying and Selling at Mueller Industries

In other news, Director John B. Hansen sold 4,000 shares of Mueller Industries stock in a transaction on Thursday, April 25th. The shares were sold at an average price of $57.29, for a total transaction of $229,160.00. Following the completion of the sale, the director now directly owns 104,214 shares of the company’s stock, valued at approximately $5,970,420.06. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other news, CFO Jeffrey Andrew Martin sold 52,436 shares of the company’s stock in a transaction on Friday, April 26th. The shares were sold at an average price of $57.25, for a total value of $3,001,961.00. Following the completion of the transaction, the chief financial officer now owns 313,529 shares in the company, valued at approximately $17,949,535.25. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director John B. Hansen sold 4,000 shares of the stock in a transaction on Thursday, April 25th. The shares were sold at an average price of $57.29, for a total transaction of $229,160.00. Following the completion of the transaction, the director now directly owns 104,214 shares in the company, valued at $5,970,420.06. The disclosure for this sale can be found here. Insiders own 2.80% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. StockNews.com cut Mueller Industries from a “buy” rating to a “hold” rating in a report on Monday, January 22nd. Northcoast Research restated a “neutral” rating on shares of Mueller Industries in a report on Friday, January 19th.

Mueller Industries Company 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.