Mueller Industries, Inc. (NYSE:MLI) Plans Dividend Increase – $0.25 Per Share

Mueller Industries, Inc. (NYSE:MLI) declared 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 1.28%. The ex-dividend date is Friday, March 14th. This is an increase from Mueller Industries’s previous quarterly dividend of $0.20.

Mueller Industries has raised its dividend payment by an average of 45.5% annually over the last three years. Mueller Industries has a payout ratio of 12.6% indicating that its dividend is sufficiently covered by earnings.

Mueller Industries Stock Performance

Shares of MLI opened at $78.41 on Friday. The business’s fifty day moving average price is $80.31 and its two-hundred day moving average price is $77.75. The firm has a market capitalization of $8.92 billion, a price-to-earnings ratio of 14.77 and a beta of 0.98. Mueller Industries has a 52 week low of $47.46 and a 52 week high of $96.81.

Mueller Industries (NYSE:MLI) last issued its earnings results on Tuesday, February 4th. The industrial products company reported $1.21 EPS for the quarter, beating the consensus estimate 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 Mueller Industries from a “neutral” rating to a “buy” rating and set a $105.00 price target for the company in a research report on Wednesday, December 11th.

Insider Buying and Selling at Mueller Industries

In other Mueller Industries news, Director Scott Jay Goldman sold 10,000 shares of the business’s stock in a transaction that occurred 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 transaction, the director now owns 56,098 shares of the company’s stock, valued at $4,477,181.38. The trade was a 15.13 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 2.80% of the company’s stock.

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.