Empirical Financial Services LLC d.b.a. Empirical Wealth Management Buys 716 Shares of Mueller Industries, Inc. (NYSE:MLI)

Empirical Financial Services LLC d.b.a. Empirical Wealth Management boosted its holdings in Mueller Industries, Inc. (NYSE:MLI) by 7.5% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 10,261 shares of the industrial products company’s stock after purchasing 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 SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. State Street Corp raised its holdings in Mueller Industries by 3.2% during 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 during the period. Charles Schwab Investment Management Inc. boosted its position in Mueller Industries by 27.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,469,736 shares of the industrial products company’s stock valued at $108,907,000 after purchasing an additional 315,490 shares in the last quarter. FMR LLC boosted its holdings in Mueller Industries by 2.6% in the third quarter. FMR LLC now owns 1,066,658 shares of the industrial products company’s stock worth $79,039,000 after acquiring an additional 27,399 shares in the last quarter. Systematic Financial Management LP boosted its holdings in Mueller Industries by 1.6% in the third quarter. Systematic Financial Management LP now owns 939,342 shares of the industrial products company’s stock worth $69,605,000 after acquiring an additional 14,729 shares in the last quarter. Finally, Fiera Capital Corp purchased a new position in shares of Mueller Industries in the third quarter worth about $35,552,000. 94.50% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, Northcoast Research upgraded Mueller Industries from a “neutral” rating to a “buy” rating and set a $105.00 price target for the company in a research report on Wednesday, December 11th.

Insider Activity at Mueller Industries

In related news, Director Charles P. Herzog, Jr. sold 15,000 shares of the company’s stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $92.04, for a total value of $1,380,600.00. Following the completion of the sale, the director now directly 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 document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 2.80% of the company’s stock.

Mueller Industries Stock Performance

NYSE MLI opened at $79.93 on Wednesday. The stock’s fifty day moving average is $81.12 and its two-hundred day moving average is $76.19. The firm has a market capitalization of $9.09 billion, a P/E ratio of 15.52 and a beta of 1.00. Mueller Industries, Inc. has a fifty-two week low of $47.46 and a fifty-two week high of $96.81.

Mueller Industries Announces Dividend

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

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.