Nomura Asset Management Co. Ltd. Buys 33,840 Shares of Mueller Industries, Inc. (NYSE:MLI)

Nomura Asset Management Co. Ltd. lifted its stake in shares of Mueller Industries, Inc. (NYSE:MLI - Free Report) by 5,640.0% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 34,440 shares of the industrial products company's stock after buying an additional 33,840 shares during the quarter. Nomura Asset Management Co. Ltd.'s holdings in Mueller Industries were worth $2,733,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently bought and sold shares of the company. New Age Alpha Advisors LLC purchased a new position in Mueller Industries during the fourth quarter valued at $32,000. Westside Investment Management Inc. purchased a new stake in Mueller Industries in the third quarter worth about $41,000. SBI Securities Co. Ltd. bought a new position in shares of Mueller Industries during the fourth quarter valued at approximately $47,000. Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of Mueller Industries during the fourth quarter valued at approximately $53,000. Finally, City State Bank purchased a new position in shares of Mueller Industries during the fourth quarter valued at approximately $58,000. 94.50% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, Director Scott Jay Goldman sold 10,000 shares of the company's stock in a transaction dated Thursday, February 13th. The shares were sold at an average price of $79.81, for a total transaction of $798,100.00. Following the completion of the sale, the director now owns 56,098 shares of the company's stock, valued at $4,477,181.38. This represents a 15.13 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 2.80% of the stock is currently owned by insiders.

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Analyst Upgrades and Downgrades

Separately, Northcoast Research raised Mueller Industries from a "neutral" rating to a "buy" rating and set a $105.00 price objective for the company in a research report on Wednesday, December 11th.

Mueller Industries Price Performance

MLI stock traded down $0.97 during trading on Monday, hitting $69.63. 1,245,594 shares of the stock traded hands, compared to its average volume of 904,752. The stock has a market cap of $7.71 billion, a price-to-earnings ratio of 13.11 and a beta of 0.96. Mueller Industries, Inc. has a 1 year low of $50.85 and a 1 year high of $96.81. The firm's 50 day moving average is $79.12 and its two-hundred day moving average is $79.96.

Mueller Industries (NYSE:MLI - Get Free Report) last announced its quarterly earnings results on Tuesday, February 4th. The industrial products company reported $1.21 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.12 by $0.09. Mueller Industries had a net margin of 16.05% and a return on equity of 22.97%.

Mueller Industries Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Friday, March 14th were issued a $0.25 dividend. The ex-dividend date was Friday, March 14th. This represents a $1.00 annualized dividend and a yield of 1.44%. This is a boost from Mueller Industries's previous quarterly dividend of $0.20. Mueller Industries's dividend payout ratio (DPR) is currently 18.83%.

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.