Mueller Industries, Inc. (NYSE:MLI) Stake Lessened by AQR Capital Management LLC

AQR Capital Management LLC cut its position in shares of Mueller Industries, Inc. (NYSE:MLI - Free Report) by 12.7% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 137,167 shares of the industrial products company's stock after selling 20,011 shares during the quarter. AQR Capital Management LLC owned about 0.12% of Mueller Industries worth $10,886,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of MLI. New Age Alpha Advisors LLC acquired a new position in shares of Mueller Industries during the fourth quarter worth about $32,000. Quarry LP purchased a new stake in shares of Mueller Industries during the 4th quarter valued at about $45,000. SBI Securities Co. Ltd. purchased a new position in Mueller Industries in the 4th quarter worth approximately $47,000. Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of Mueller Industries during the fourth quarter valued at approximately $53,000. Finally, City State Bank acquired a new position in shares of Mueller Industries during the fourth quarter worth $58,000. 94.50% of the stock is currently owned by hedge funds and other institutional investors.

Mueller Industries Stock Performance

Shares of MLI stock traded up $0.04 during mid-day trading on Friday, reaching $74.89. 405,005 shares of the company were exchanged, compared to its average volume of 928,192. The business's 50 day simple moving average is $75.48 and its 200 day simple moving average is $79.82. The company has a market capitalization of $8.29 billion, a P/E ratio of 14.10 and a beta of 1.03. Mueller Industries, Inc. has a fifty-two week low of $53.53 and a fifty-two week high of $96.81.

Mueller Industries (NYSE:MLI - Get Free Report) last issued its earnings results on Tuesday, April 22nd. The industrial products company reported $1.39 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 analyst estimates of $1 billion.

Mueller Industries Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 20th. Shareholders of record on Friday, June 6th will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 1.34%. Mueller Industries's payout ratio is currently 18.21%.

Insiders Place Their Bets

In other Mueller Industries news, Director Scott Jay Goldman sold 10,000 shares of the stock in a transaction on Thursday, February 13th. The stock was sold at an average price of $79.81, for a total transaction of $798,100.00. Following the completion of the transaction, the director now directly owns 56,098 shares of the company's stock, valued at approximately $4,477,181.38. This trade represents a 15.13 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In the last quarter, insiders sold 36,483 shares of company stock worth $2,752,341. 2.70% of the stock is owned by company insiders.

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.