Empirical Financial Services LLC d.b.a. Empirical Wealth Management Has $859,000 Position in Mueller Industries, Inc. (NYSE:MLI)

Empirical Financial Services LLC d.b.a. Empirical Wealth Management grew its holdings in Mueller Industries, Inc. (NYSE:MLI) by 9.9% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,281 shares of the industrial products company’s stock after purchasing an additional 1,020 shares during the quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management’s holdings in Mueller Industries were worth $859,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Harbour Investments Inc. grew its holdings in Mueller Industries by 34.3% in the first quarter. Harbour Investments Inc. now owns 52,953 shares of the industrial products company’s stock worth $4,032,000 after purchasing an additional 13,520 shares during the period. TradeLink Capital LLC boosted its position in shares of Mueller Industries by 8.5% during the 1st quarter. TradeLink Capital LLC now owns 5,261 shares of the industrial products company’s stock worth $401,000 after purchasing an additional 411 shares in the last quarter. Natixis Advisors LLC grew its stake in shares of Mueller Industries by 398.6% in the 1st quarter. Natixis Advisors LLC now owns 103,089 shares of the industrial products company’s stock valued at $7,849,000 after buying an additional 82,415 shares during the period. Vestcor Inc increased its position in Mueller Industries by 13.0% in the 1st quarter. Vestcor Inc now owns 36,460 shares of the industrial products company’s stock valued at $2,776,000 after buying an additional 4,181 shares in the last quarter. Finally, GSA Capital Partners LLP bought a new stake in Mueller Industries in the 1st quarter valued at about $719,000. Institutional investors own 94.50% of the company’s stock.

Insiders Place Their Bets

In other news, Director Terry Hermanson sold 10,000 shares of the business’s stock in a transaction dated Tuesday, May 6th. The shares were sold at an average price of $74.34, for a total transaction of $743,400.00. Following the completion of the sale, the director directly owned 100,082 shares of the company’s stock, valued at $7,440,095.88. The trade was a 9.08% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director John B. Hansen sold 3,130 shares of the company’s stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $78.07, for a total transaction of $244,359.10. Following the completion of the sale, the director owned 93,914 shares in the company, valued at $7,331,865.98. This represents a 3.23% decrease in their position. The disclosure for this sale can be found here. 2.70% of the stock is currently owned by company insiders.

Mueller Industries Stock Performance

Shares of NYSE:MLI opened at $83.36 on Friday. The business’s 50 day simple moving average is $80.86 and its two-hundred day simple moving average is $78.66. The firm has a market cap of $9.23 billion, a P/E ratio of 13.23 and a beta of 1.02. Mueller Industries, Inc. has a 52-week low of $62.74 and a 52-week high of $96.81.

Mueller Industries (NYSE:MLI) last issued its earnings results on Tuesday, July 22nd. The industrial products company reported $1.96 earnings per share for the quarter, topping analysts’ consensus estimates of $1.62 by $0.34. Mueller Industries had a return on equity of 24.47% and a net margin of 17.48%. The company had revenue of $1.14 billion for the quarter, compared to analyst estimates of $1.12 billion. The firm’s revenue was up 14.1% compared to the same quarter last year.

Mueller Industries Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 19th. Shareholders of record on Friday, September 5th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date of this dividend is Friday, September 5th. Mueller Industries’s dividend payout ratio (DPR) is 15.87%.

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.