Empowered Funds LLC Cuts Stake in Mueller Industries, Inc. (NYSE:MLI)

Empowered Funds LLC cut its holdings in shares of Mueller Industries, Inc. (NYSE:MLI) by 3.7% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 80,451 shares of the industrial products company’s stock after selling 3,073 shares during the quarter. Empowered Funds LLC owned 0.07% of Mueller Industries worth $6,385,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the business. GAMMA Investing LLC lifted its stake in Mueller Industries by 36.0% in the third quarter. GAMMA Investing LLC now owns 552 shares of the industrial products company’s stock worth $41,000 after purchasing an additional 146 shares during the last quarter. Westside Investment Management Inc. bought a new stake in shares of Mueller Industries in the 3rd quarter valued at about $41,000. Mirae Asset Global Investments Co. Ltd. purchased a new stake in Mueller Industries during the 4th quarter valued at about $53,000. City State Bank bought a new position in Mueller Industries during the 4th quarter worth approximately $58,000. Finally, Harbor Capital Advisors Inc. purchased a new position in Mueller Industries in the 3rd quarter worth approximately $64,000. 94.50% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Mueller Industries news, Director Charles P. Herzog, Jr. sold 15,000 shares of the firm’s stock in a transaction dated Thursday, November 21st. The shares were 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 in the company, valued at $1,632,145.32. This trade represents a 45.83 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 2.80% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

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 Trading Up 0.1 %

MLI stock opened at $80.39 on Tuesday. The firm’s 50-day moving average price is $80.24 and its two-hundred day moving average price is $77.12. The stock has a market capitalization of $9.14 billion, a price-to-earnings ratio of 15.14 and a beta of 0.98. Mueller Industries, Inc. has a 12-month low of $47.46 and a 12-month high of $96.81.

Mueller Industries (NYSE:MLI) last released its quarterly earnings results on Tuesday, February 4th. The industrial products company reported $1.21 EPS for the quarter, beating analysts’ consensus estimates of $1.12 by $0.09. Mueller Industries had a return on equity of 22.97% and a net margin of 16.05%.

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.