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

Mueller Industries, Inc. (NYSE:MLI) declared a quarterly dividend on Friday, February 21st, RTT News reports. Investors of record on Friday, March 14th will be given 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 1.28%. The ex-dividend date is Friday, March 14th. 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% indicating that its dividend is sufficiently covered by earnings.

Mueller Industries Trading Down 2.7 %

Shares of Mueller Industries stock opened at $78.41 on Friday. Mueller Industries has a twelve month low of $47.46 and a twelve month high of $96.81. The business’s fifty day moving average price is $80.31 and its 200 day moving average price is $77.75. The stock has a market capitalization of $8.92 billion, a P/E ratio of 14.77 and a beta of 0.98.

Mueller Industries (NYSE:MLI) last issued its quarterly earnings data on Tuesday, February 4th. The industrial products company reported $1.21 EPS for the quarter, topping 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%.

Wall Street Analysts Forecast Growth

Separately, Northcoast Research raised shares of Mueller Industries from a “neutral” rating to a “buy” rating and set a $105.00 price target 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 firm’s stock in a transaction that occurred on 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 directly owns 56,098 shares in the company, valued at approximately $4,477,181.38. This trade represents a 15.13 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 2.80% 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.