AQR Capital Management LLC Purchases 13,816 Shares of Mueller Industries, Inc. (NYSE:MLI)

AQR Capital Management LLC boosted its position in shares of Mueller Industries, Inc. (NYSE:MLI) by 8.9% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 169,214 shares of the industrial products company’s stock after buying an additional 13,816 shares during the quarter. AQR Capital Management LLC’s holdings in Mueller Industries were worth $9,635,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in shares of Mueller Industries by 100.0% in the fourth quarter. Vanguard Group Inc. now owns 12,299,997 shares of the industrial products company’s stock valued at $579,945,000 after acquiring an additional 6,150,358 shares during the period. Gamco Investors INC. ET AL grew its stake in shares of Mueller Industries by 93.1% in the fourth quarter. Gamco Investors INC. ET AL now owns 3,849,329 shares of the industrial products company’s stock worth $181,496,000 after purchasing an additional 1,855,637 shares during the last quarter. Gates Capital Management Inc. increased its holdings in Mueller Industries by 58.4% during the 4th quarter. Gates Capital Management Inc. now owns 1,896,207 shares of the industrial products company’s stock valued at $89,406,000 after purchasing an additional 699,463 shares during the period. LSV Asset Management raised its position in Mueller Industries by 44.1% during the 2nd quarter. LSV Asset Management now owns 2,094,682 shares of the industrial products company’s stock valued at $119,271,000 after purchasing an additional 641,114 shares during the last quarter. Finally, Palisade Capital Management LP lifted its holdings in Mueller Industries by 84.9% in the 4th quarter. Palisade Capital Management LP now owns 1,017,026 shares of the industrial products company’s stock worth $47,953,000 after buying an additional 467,035 shares during the period. 94.50% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Mueller Industries

In other news, CEO Gregory L. Christopher sold 50,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $69.92, for a total value of $3,496,000.00. Following the completion of the transaction, the chief executive officer now owns 1,214,311 shares in the company, valued at approximately $84,904,625.12. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other Mueller Industries news, CEO Gregory L. Christopher sold 45,000 shares of the company’s stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $67.73, for a total value of $3,047,850.00. Following the sale, the chief executive officer now owns 1,264,311 shares in the company, valued at $85,631,784.03. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Gregory L. Christopher sold 50,000 shares of Mueller Industries stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $69.92, for a total transaction of $3,496,000.00. Following the transaction, the chief executive officer now owns 1,214,311 shares of the company’s stock, valued at $84,904,625.12. The disclosure for this sale can be found here. In the last three months, insiders have sold 103,000 shares of company stock valued at $7,081,770. 2.80% of the stock is currently owned by corporate insiders.

Mueller Industries Stock Performance

MLI opened at $72.22 on Thursday. The stock has a market capitalization of $8.20 billion, a PE ratio of 14.47 and a beta of 1.03. The stock’s 50 day moving average price is $69.41 and its 200-day moving average price is $61.03. Mueller Industries, Inc. has a 52-week low of $34.96 and a 52-week high of $74.47.

Mueller Industries (NYSE:MLI) last issued its quarterly earnings data on Tuesday, July 23rd. The industrial products company reported $1.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.29 by $0.12. Mueller Industries had a net margin of 16.19% and a return on equity of 22.86%. The business had revenue of $997.75 million for the quarter.

Mueller Industries Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 20th. Shareholders of record on Friday, September 6th were issued a $0.20 dividend. The ex-dividend date was Friday, September 6th. This represents a $0.80 annualized dividend and a yield of 1.11%. Mueller Industries’s dividend payout ratio (DPR) is presently 16.03%.

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.