Mueller Industries, Inc. (NYSE:MLI) Announces Quarterly Dividend of $0.25

Mueller Industries, Inc. (NYSE:MLI) announced a quarterly dividend on Friday, February 21st, RTT News reports. Shareholders of record on Friday, March 14th will be paid a dividend of 0.25 per share by the industrial products company on Friday, March 28th. This represents a $1.00 annualized dividend and a yield of 1.24%. This is a positive change from Mueller Industries’s previous quarterly dividend of $0.20.

Mueller Industries has raised its dividend by an average of 45.5% per year over the last three years. Mueller Industries has a dividend payout ratio of 12.6% meaning its dividend is sufficiently covered by earnings.

Mueller Industries Stock Up 0.2 %

Shares of Mueller Industries stock opened at $80.72 on Friday. The company has a market cap of $9.18 billion, a PE ratio of 15.24 and a beta of 0.98. The business has a 50 day moving average of $80.39 and a 200 day moving average of $77.66. Mueller Industries has a 52 week low of $47.46 and a 52 week high of $96.81.

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

Analyst Upgrades and Downgrades

Separately, Northcoast Research upgraded Mueller Industries from a “neutral” rating to a “buy” rating and set a $105.00 target price for the company in a report on Wednesday, December 11th.

Insider Buying and Selling

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

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.