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

Nomura Holdings Inc. lessened its position in shares of Mueller Industries, Inc. (NYSE:MLI - Free Report) by 75.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund 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 reporting period.

Other hedge funds also recently bought and sold shares of the company. Nuveen Asset Management LLC increased its position in shares of Mueller Industries by 23.6% during the 4th quarter. Nuveen Asset Management LLC now owns 465,438 shares of the industrial products company's stock valued at $36,937,000 after purchasing an additional 88,799 shares during the last quarter. NDVR Inc. increased its holdings in Mueller Industries by 5.1% during the fourth quarter. NDVR Inc. now owns 5,454 shares of the industrial products company's stock valued at $433,000 after buying an additional 265 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Mueller Industries by 5.7% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 845,344 shares of the industrial products company's stock valued at $67,087,000 after buying an additional 45,672 shares during the last quarter. Lazard Asset Management LLC increased its holdings in Mueller Industries by 40.8% during the fourth quarter. Lazard Asset Management LLC now owns 55,096 shares of the industrial products company's stock valued at $4,371,000 after buying an additional 15,977 shares during the last quarter. Finally, J. Goldman & Co LP purchased a new stake in Mueller Industries during the fourth quarter valued at approximately $12,095,000. Hedge funds and other institutional investors own 94.50% of the company's stock.

Mueller Industries Price Performance

Shares of NYSE:MLI traded down $0.54 during midday trading on Wednesday, hitting $77.35. The company had a trading volume of 726,844 shares, compared to its average volume of 934,116. The company has a market cap of $8.56 billion, a price-to-earnings ratio of 14.57 and a beta of 1.03. Mueller Industries, Inc. has a 12-month low of $53.53 and a 12-month high of $96.81. The company has a fifty day moving average of $75.21 and a two-hundred day moving average of $79.62.

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

Mueller Industries Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, June 20th. Investors of record on Friday, June 6th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.29%. The ex-dividend date is Friday, June 6th. Mueller Industries's dividend payout ratio is 18.21%.

Insider Buying and Selling

In related news, Director Scott Jay Goldman sold 16,483 shares of the stock in a transaction dated Tuesday, April 29th. The stock was sold at an average price of $73.46, for a total transaction of $1,210,841.18. Following the completion of the sale, the director now owns 39,615 shares in the company, valued at approximately $2,910,117.90. This trade represents a 29.38% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director John B. Hansen sold 3,130 shares of the stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $78.07, for a total value of $244,359.10. Following the sale, the director now owns 93,914 shares of the company's stock, valued at $7,331,865.98. This represents a 3.23% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 29,613 shares of company stock valued at $2,198,600. 2.70% of the stock is owned by corporate insiders.

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.