Nomura Holdings Inc. Cuts Position in Mueller Industries, Inc. (NYSE:MLI)

Nomura Holdings Inc. lessened its holdings in Mueller Industries, Inc. (NYSE:MLI) by 75.9% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 15,064 shares of the industrial products company’s stock after selling 47,432 shares during the quarter. Nomura Holdings Inc.’s holdings in Mueller Industries were worth $1,195,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of MLI. William Blair Investment Management LLC purchased a new stake in Mueller Industries in the fourth quarter worth about $201,376,000. Norges Bank purchased a new stake in Mueller Industries in the fourth quarter worth about $117,351,000. Invesco Ltd. grew its holdings in Mueller Industries by 50.3% in the fourth quarter. Invesco Ltd. now owns 2,788,607 shares of the industrial products company’s stock worth $221,304,000 after purchasing an additional 933,498 shares during the period. FMR LLC grew its holdings in Mueller Industries by 79.2% in the fourth quarter. FMR LLC now owns 1,911,689 shares of the industrial products company’s stock worth $151,712,000 after purchasing an additional 845,031 shares during the period. Finally, Caisse DE Depot ET Placement DU Quebec grew its holdings in Mueller Industries by 169.1% in the fourth quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,058,830 shares of the industrial products company’s stock worth $84,029,000 after purchasing an additional 665,413 shares during the period. Hedge funds and other institutional investors own 94.50% of the company’s stock.

Mueller Industries Stock Performance

Shares of MLI opened at $79.35 on Monday. The firm’s 50-day simple moving average is $75.27 and its two-hundred day simple moving average is $79.67. Mueller Industries, Inc. has a fifty-two week low of $53.53 and a fifty-two week high of $96.81. The stock has a market cap of $8.78 billion, a PE ratio of 14.94 and a beta of 1.03.

Mueller Industries (NYSE:MLI) last posted its quarterly earnings results on Tuesday, April 22nd. The industrial products company reported $1.39 EPS for the quarter, beating analysts’ consensus estimates of $1.31 by $0.08. Mueller Industries had a net margin of 16.05% and a return on equity of 22.97%. The firm had revenue of $1 billion for the quarter, compared to analysts’ expectations of $1 billion.

Mueller Industries Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 20th. Stockholders of record on Friday, June 6th will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.26%. The ex-dividend date of this dividend is Friday, June 6th. Mueller Industries’s payout ratio is 18.21%.

Insider Activity

In related news, Director Terry Hermanson sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 6th. The shares were sold at an average price of $74.34, for a total value of $743,400.00. Following the sale, the director now owns 100,082 shares in the company, valued at approximately $7,440,095.88. This trade represents a 9.08% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director John B. Hansen sold 3,130 shares of Mueller Industries stock in a transaction that occurred on 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 now directly owns 93,914 shares of the company’s stock, valued at approximately $7,331,865.98. This trade represents a 3.23% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 29,613 shares of company stock worth $2,198,600 over the last 90 days. 2.70% of the stock is currently owned by insiders.

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.