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

Mueller Industries, Inc. (NYSE:MLI - Get Free Report) announced a quarterly dividend on Friday, February 21st, RTT News reports. Stockholders 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 dividend yield of 1.25%. 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% annually 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 Up 0.8 %

Shares of Mueller Industries stock traded up $0.66 during trading on Tuesday, reaching $80.25. The company's stock had a trading volume of 1,049,491 shares, compared to its average volume of 755,222. The company has a 50-day moving average price of $80.22 and a two-hundred day moving average price of $77.99. Mueller Industries has a fifty-two week low of $49.10 and a fifty-two week high of $96.81. The firm has a market cap of $9.13 billion, a PE ratio of 15.11 and a beta of 0.98.

Mueller Industries (NYSE:MLI - Get Free Report) 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 net margin of 16.05% and a return on equity of 22.97%.

Wall Street Analyst Weigh In

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 report on Wednesday, December 11th.

Insider Transactions at Mueller Industries

In related news, Director Scott Jay Goldman sold 10,000 shares of the stock in a transaction 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 sale, the director now owns 56,098 shares of the company's stock, valued at $4,477,181.38. This trade represents a 15.13 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate 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.