Mueller Industries, Inc. (MLI) to Issue Quarterly Dividend of $0.20 on September 20th

Mueller Industries, Inc. (NYSE:MLI) announced a quarterly dividend on Thursday, August 1st, RTT News reports. Stockholders of record on Friday, September 6th will be given a dividend of 0.20 per share by the industrial products company on Friday, September 20th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.17%. The ex-dividend date of this dividend is Friday, September 6th.

Mueller Industries has increased its dividend 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 Performance

NYSE MLI opened at $68.61 on Wednesday. The firm’s 50 day moving average price is $65.11 and its two-hundred day moving average price is $58.30. Mueller Industries has a twelve month low of $34.96 and a twelve month high of $72.83. The stock has a market cap of $7.79 billion, a price-to-earnings ratio of 13.75 and a beta of 1.06.

Mueller Industries (NYSE:MLI) last announced its quarterly earnings data on Tuesday, July 23rd. The industrial products company reported $1.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.29 by $0.12. The firm had revenue of $997.75 million during the quarter. Mueller Industries had a return on equity of 22.86% and a net margin of 16.19%.

Insider Buying and Selling

In other news, Director John B. Hansen sold 8,000 shares of Mueller Industries stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $67.24, for a total transaction of $537,920.00. Following the completion of the sale, the director now directly owns 95,914 shares in the company, valued at approximately $6,449,257.36. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other news, Director John B. Hansen sold 8,000 shares of the stock in a transaction on Friday, August 9th. The shares were sold at an average price of $67.24, for a total transaction of $537,920.00. Following the transaction, the director now owns 95,914 shares in the company, valued at approximately $6,449,257.36. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Gregory L. Christopher sold 50,000 shares of the company’s stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $69.92, for a total transaction 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 disclosure for this sale can be found here. Over the last ninety days, insiders sold 103,000 shares of company stock worth $7,081,770. 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.