Mueller Industries, Inc. (NYSE:MLI) Raises Dividend to $0.25 Per Share

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 dividend on an annualized basis and a dividend yield of 1.22%. The ex-dividend date of this dividend is Friday, March 14th. This is a 25.0% increase from Mueller Industries’s previous quarterly dividend of $0.20.

Mueller Industries has increased its dividend by an average of 45.5% annually over the last three years. Mueller Industries has a dividend payout ratio of 15.7% indicating that its dividend is sufficiently covered by earnings.

Mueller Industries Stock Performance

Mueller Industries stock opened at $82.11 on Wednesday. Mueller Industries has a 52 week low of $50.84 and a 52 week high of $96.81. The stock has a market capitalization of $9.30 billion, a P/E ratio of 15.46 and a beta of 0.99. The stock has a fifty day moving average of $80.22 and a 200-day moving average of $78.89.

Mueller Industries (NYSE:MLI) last posted its earnings results 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%.

Analyst Ratings Changes

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

Insider Activity at Mueller Industries

In other news, Director Scott Jay Goldman sold 10,000 shares of Mueller Industries stock in a transaction 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 transaction, the director now owns 56,098 shares in the company, valued at approximately $4,477,181.38. The trade was 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 accessible through the SEC website. 2.80% 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.