Mueller Industries, Inc. (NYSE:MLI) to Issue Quarterly Dividend of $0.20

Mueller Industries, Inc. (NYSE:MLI - Get Free Report) declared a quarterly dividend on Friday, November 8th,RTT News reports. Stockholders of record on Friday, December 6th will be paid a dividend of 0.20 per share by the industrial products company on Friday, December 20th. This represents a $0.80 annualized dividend and a dividend yield of 0.85%.

Mueller Industries has raised its dividend payment by an average of 44.2% per year over the last three years. Mueller Industries has a dividend payout ratio of 15.1% meaning its dividend is sufficiently covered by earnings.

Mueller Industries Stock Up 1.0 %

NYSE:MLI traded up $0.89 during trading hours on Friday, reaching $94.40. 677,747 shares of the company's stock were exchanged, compared to its average volume of 851,222. The company has a market capitalization of $10.74 billion, a P/E ratio of 18.33 and a beta of 1.01. Mueller Industries has a 12 month low of $37.54 and a 12 month high of $95.84. The business's 50-day simple moving average is $75.01 and its two-hundred day simple moving average is $66.01.

Mueller Industries (NYSE:MLI - Get Free Report) last announced its quarterly earnings data on Tuesday, October 22nd. The industrial products company reported $1.48 EPS for the quarter, beating analysts' consensus estimates of $1.32 by $0.16. The company had revenue of $997.80 million during the quarter, compared to the consensus estimate of $936.00 million. Mueller Industries had a return on equity of 23.25% and a net margin of 16.39%. The business's revenue for the quarter was up 21.7% compared to the same quarter last year.

Insider Activity at Mueller Industries

In other Mueller Industries news, Director John B. Hansen sold 1,000 shares of the business's stock in a transaction dated Wednesday, October 30th. The stock was sold at an average price of $83.09, for a total transaction of $83,090.00. Following the sale, the director now owns 94,914 shares in the company, valued at approximately $7,886,404.26. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Mueller Industries news, Director John B. Hansen sold 1,000 shares of Mueller Industries stock in a transaction that occurred on Wednesday, October 30th. The shares were sold at an average price of $83.09, for a total transaction of $83,090.00. Following the transaction, the director now directly owns 94,914 shares in the company, valued at approximately $7,886,404.26. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Gregory L. Christopher sold 50,000 shares of the stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $69.92, for a total value of $3,496,000.00. Following the completion of the sale, the chief executive officer now owns 1,214,311 shares of the company's stock, valued at $84,904,625.12. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 96,000 shares of company stock worth $6,626,940 in the last quarter. 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.