Empowered Funds LLC Sells 3,073 Shares of Mueller Industries, Inc. (NYSE:MLI)

Empowered Funds LLC trimmed its holdings in Mueller Industries, Inc. (NYSE:MLI) by 3.7% in the 4th quarter, Holdings Channel reports. The fund owned 80,451 shares of the industrial products company’s stock after selling 3,073 shares during the quarter. Empowered Funds LLC’s holdings in Mueller Industries were worth $6,385,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of MLI. Sanctuary Advisors LLC bought a new position in shares of Mueller Industries during the second quarter valued at approximately $599,000. Park Avenue Securities LLC bought a new position in Mueller Industries during the 3rd quarter valued at approximately $253,000. GAMMA Investing LLC raised its stake in Mueller Industries by 36.0% during the third quarter. GAMMA Investing LLC now owns 552 shares of the industrial products company’s stock valued at $41,000 after buying an additional 146 shares during the last quarter. Exchange Traded Concepts LLC boosted its holdings in Mueller Industries by 41.2% in the third quarter. Exchange Traded Concepts LLC now owns 37,155 shares of the industrial products company’s stock worth $2,753,000 after acquiring an additional 10,846 shares in the last quarter. Finally, Oliver Luxxe Assets LLC grew its stake in shares of Mueller Industries by 88.0% in the third quarter. Oliver Luxxe Assets LLC now owns 59,208 shares of the industrial products company’s stock worth $4,387,000 after acquiring an additional 27,714 shares during the last quarter. 94.50% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Director Charles P. Herzog, Jr. sold 15,000 shares of Mueller Industries stock in a transaction that occurred on 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. The trade was a 45.83 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 2.80% of the stock is owned by insiders.

Mueller Industries Stock Up 0.1 %

NYSE:MLI opened at $80.39 on Tuesday. The stock has a market cap of $9.14 billion, a price-to-earnings ratio of 15.14 and a beta of 0.98. The company’s 50 day moving average price is $80.24 and its 200-day moving average price is $77.12. Mueller Industries, Inc. has a 52 week low of $47.46 and a 52 week high of $96.81.

Mueller Industries (NYSE:MLI) last posted its earnings results on Tuesday, February 4th. The industrial products company reported $1.21 EPS for the quarter, topping 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%.

Wall Street Analyst Weigh In

Separately, Northcoast Research raised 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.

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.