Nomura Holdings Inc. Sells 47,432 Shares of Mueller Industries, Inc. (NYSE:MLI)

Nomura Holdings Inc. cut its holdings in Mueller Industries, Inc. (NYSE:MLI) by 75.9% during the 4th quarter, Holdings Channel reports. The fund owned 15,064 shares of the industrial products company’s stock after selling 47,432 shares during the period. Nomura Holdings Inc.’s holdings in Mueller Industries were worth $1,195,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in MLI. William Blair Investment Management LLC bought a new position in Mueller Industries in the fourth quarter worth approximately $201,376,000. Norges Bank bought a new position in Mueller Industries in the fourth quarter worth approximately $117,351,000. Invesco Ltd. raised its position 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 acquiring an additional 933,498 shares during the period. FMR LLC raised its position 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 acquiring an additional 845,031 shares during the period. Finally, Caisse DE Depot ET Placement DU Quebec raised its position 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 acquiring an additional 665,413 shares during the period. 94.50% of the stock is currently owned by institutional investors.

Mueller Industries Trading Up 0.4%

MLI opened at $79.35 on Monday. Mueller Industries, Inc. has a 1-year low of $53.53 and a 1-year high of $96.81. The company has a market capitalization of $8.78 billion, a PE ratio of 14.94 and a beta of 1.03. The firm’s 50 day simple moving average is $75.27 and its two-hundred day simple moving average is $79.67.

Mueller Industries (NYSE:MLI) last released its quarterly earnings results on Tuesday, April 22nd. The industrial products company reported $1.39 earnings per share for the quarter, topping the consensus estimate of $1.31 by $0.08. Mueller Industries had a net margin of 16.05% and a return on equity of 22.97%. The business had revenue of $1 billion for the quarter, compared to the consensus estimate of $1 billion.

Mueller Industries Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 20th. Stockholders of record on Friday, June 6th will be given a $0.25 dividend. The ex-dividend date is Friday, June 6th. This represents a $1.00 annualized dividend and a dividend yield of 1.26%. Mueller Industries’s payout ratio is 18.21%.

Insider Activity

In other news, Director Terry Hermanson sold 10,000 shares of the company’s stock in a transaction dated Tuesday, May 6th. The stock was sold at an average price of $74.34, for a total value of $743,400.00. Following the completion of the transaction, the director now owns 100,082 shares of the company’s stock, valued at $7,440,095.88. This represents a 9.08% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Scott Jay Goldman sold 16,483 shares of the company’s stock in a transaction dated Tuesday, April 29th. The stock was sold at an average price of $73.46, for a total value of $1,210,841.18. Following the completion of the transaction, the director now directly owns 39,615 shares of the company’s stock, valued at approximately $2,910,117.90. This trade represents a 29.38% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 29,613 shares of company stock worth $2,198,600 over the last ninety days. Corporate insiders own 2.70% 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.