Empirical Financial Services LLC d.b.a. Empirical Wealth Management Acquires 1,522 Shares of Mueller Industries, Inc. $MLI

Empirical Financial Services LLC d.b.a. Empirical Wealth Management boosted its holdings in shares of Mueller Industries, Inc. (NYSE:MLI) by 13.5% in the second quarter, HoldingsChannel reports. The firm owned 12,803 shares of the industrial products company’s stock after acquiring an additional 1,522 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management’s holdings in Mueller Industries were worth $1,017,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently bought and sold shares of MLI. Golden State Wealth Management LLC increased its stake in shares of Mueller Industries by 103.1% in the first quarter. Golden State Wealth Management LLC now owns 331 shares of the industrial products company’s stock valued at $25,000 after buying an additional 168 shares in the last quarter. Brooklyn Investment Group grew its holdings in Mueller Industries by 267.3% during the 1st quarter. Brooklyn Investment Group now owns 382 shares of the industrial products company’s stock worth $29,000 after acquiring an additional 278 shares during the last quarter. Rise Advisors LLC acquired a new stake in Mueller Industries in the 1st quarter valued at about $30,000. Wayfinding Financial LLC bought a new position in shares of Mueller Industries in the first quarter worth about $34,000. Finally, Maseco LLP acquired a new position in shares of Mueller Industries during the second quarter worth approximately $40,000. Institutional investors and hedge funds own 94.50% of the company’s stock.

Analyst Ratings Changes

Separately, Weiss Ratings reissued a “buy (b)” rating on shares of Mueller Industries in a research note on Saturday, September 27th. Two equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $105.00.

Mueller Industries Price Performance

Shares of NYSE MLI opened at $100.46 on Friday. Mueller Industries, Inc. has a fifty-two week low of $66.84 and a fifty-two week high of $102.75. The firm has a market capitalization of $11.12 billion, a P/E ratio of 15.95 and a beta of 1.02. The company’s 50 day simple moving average is $94.85 and its 200 day simple moving average is $83.50.

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

Mueller Industries Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 19th. Shareholders of record on Friday, September 5th were paid a $0.25 dividend. The ex-dividend date of this dividend was Friday, September 5th. This represents a $1.00 annualized dividend and a yield of 1.0%. Mueller Industries’s dividend payout ratio is presently 15.87%.

Insiders Place Their Bets

In other Mueller Industries news, Director John B. Hansen sold 1,000 shares of the firm’s stock in a transaction dated Tuesday, August 12th. The stock was sold at an average price of $91.97, for a total transaction of $91,970.00. Following the transaction, the director owned 92,664 shares in the company, valued at approximately $8,522,308.08. This trade represents a 1.07% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 2.70% of the company’s stock.

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.