Mueller Industries, Inc. $MLI Shares Bought by AQR Capital Management LLC

Key Points

• AQR Capital Management LLC has increased its stake in Mueller Industries by 329.0%, now owning 588,428 shares valued at approximately $43.93 million.
• Despite a recent increase in institutional investment, insiders own only 2.70% of the company's stock, with a notable insider selling 1,000 shares.
• Mueller Industries reported earnings of $1.96 per share, exceeding expectations, along with a 14.1% year-over-year revenue increase.

AQR Capital Management LLC increased its holdings in Mueller Industries, Inc. (NYSE:MLI - Free Report) by 329.0% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 588,428 shares of the industrial products company's stock after buying an additional 451,261 shares during the period. AQR Capital Management LLC owned about 0.53% of Mueller Industries worth $43,926,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of MLI. Golden State Wealth Management LLC boosted its stake in Mueller Industries by 103.1% in the first quarter. Golden State Wealth Management LLC now owns 331 shares of the industrial products company's stock valued at $25,000 after acquiring an additional 168 shares during the period. Brooklyn Investment Group lifted its holdings in shares of Mueller Industries by 267.3% in the 1st quarter. Brooklyn Investment Group now owns 382 shares of the industrial products company's stock worth $29,000 after purchasing an additional 278 shares during the last quarter. Wayfinding Financial LLC acquired a new position in Mueller Industries during the 1st quarter valued at approximately $34,000. Opal Wealth Advisors LLC bought a new position in Mueller Industries during the 1st quarter worth $40,000. Finally, Point72 Hong Kong Ltd bought a new position in Mueller Industries during the 4th quarter worth $53,000. Institutional investors own 94.50% of the company's stock.

Mueller Industries Stock Up 0.2%

MLI stock traded up $0.21 during mid-day trading on Friday, reaching $99.08. The company had a trading volume of 1,145,850 shares, compared to its average volume of 670,866. Mueller Industries, Inc. has a one year low of $66.84 and a one year high of $99.93. The stock has a market capitalization of $10.97 billion, a P/E ratio of 15.73 and a beta of 1.05. The stock's 50-day simple moving average is $90.42 and its two-hundred day simple moving average is $81.39.

Mueller Industries (NYSE:MLI - Get Free Report) last released its quarterly earnings results on Tuesday, July 22nd. The industrial products company reported $1.96 EPS for the quarter, topping the consensus estimate of $1.62 by $0.34. The business had revenue of $1.14 billion during the quarter, compared to analyst estimates of $1.12 billion. Mueller Industries had a net margin of 17.48% and a return on equity of 24.47%. The company's quarterly revenue was up 14.1% compared to the same quarter last year.

Mueller Industries Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, September 19th. Shareholders of record on Friday, September 5th will be paid a $0.25 dividend. The ex-dividend date is Friday, September 5th. This represents a $1.00 annualized dividend and a dividend yield of 1.0%. Mueller Industries's dividend payout ratio (DPR) is presently 15.87%.

Insider Buying and Selling at Mueller Industries

In other news, Director John B. Hansen sold 1,000 shares of the business's stock in a transaction that occurred on Tuesday, August 12th. The stock was sold at an average price of $91.97, for a total transaction of $91,970.00. Following the completion of the transaction, the director directly owned 92,664 shares in the company, valued at approximately $8,522,308.08. The trade was a 1.07% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Company 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.