Mueller Industries, Inc. (NYSE:MLI) Shares Purchased by Nomura Asset Management Co. Ltd.

Nomura Asset Management Co. Ltd. boosted its holdings in Mueller Industries, Inc. (NYSE:MLI) by 5,640.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 34,440 shares of the industrial products company’s stock after acquiring an additional 33,840 shares during the period. Nomura Asset Management Co. Ltd.’s holdings in Mueller Industries were worth $2,733,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of MLI. State Street Corp boosted its position 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 purchasing an additional 139,406 shares during the period. William Blair Investment Management LLC acquired a new position in shares of Mueller Industries during the fourth quarter valued at $201,376,000. Norges Bank bought a new position in shares of Mueller Industries during the fourth quarter worth about $117,351,000. FMR LLC increased its holdings in shares of Mueller Industries by 2.6% in the 3rd 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 during the period. Finally, Systematic Financial Management LP lifted its position in Mueller Industries by 1.6% in the 3rd quarter. Systematic Financial Management LP now owns 939,342 shares of the industrial products company’s stock valued at $69,605,000 after purchasing an additional 14,729 shares during the last quarter. 94.50% of the stock is currently owned by institutional investors and hedge funds.

Mueller Industries Price Performance

MLI opened at $79.49 on Thursday. The stock’s 50 day moving average price is $79.66 and its 200 day moving average price is $79.91. The stock has a market cap of $9.00 billion, a P/E ratio of 14.97 and a beta of 0.99. Mueller Industries, Inc. has a 12 month low of $50.85 and a 12 month high of $96.81.

Mueller Industries (NYSE:MLI) last issued 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 Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Friday, March 14th were issued a $0.25 dividend. The ex-dividend date of this dividend was Friday, March 14th. This is a boost from Mueller Industries’s previous quarterly dividend of $0.20. This represents a $1.00 annualized dividend and a dividend yield of 1.26%. Mueller Industries’s dividend payout ratio (DPR) is 18.83%.

Analyst Upgrades and Downgrades

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

Insider Activity at Mueller Industries

In other Mueller Industries news, Director Scott Jay Goldman sold 10,000 shares of the stock in a transaction on Thursday, February 13th. The stock was sold at an average price of $79.81, for a total transaction of $798,100.00. Following the completion of the transaction, the director now directly owns 56,098 shares of the company’s stock, valued at approximately $4,477,181.38. This trade represents a 15.13 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 2.80% of the company’s stock.

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.