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

Mueller Industries, Inc. (NYSE:MLI) announced a quarterly dividend on Friday, November 8th,RTT News reports. Stockholders of record on Friday, December 6th will be given 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 Trading Up 1.0 %

MLI opened at $94.40 on Friday. The company has a fifty day moving average price of $75.01 and a two-hundred day moving average price of $66.01. Mueller Industries has a 1-year low of $37.54 and a 1-year high of $95.84. The company has a market cap of $10.74 billion, a P/E ratio of 18.33 and a beta of 1.01.

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

Insider Transactions at Mueller Industries

In other news, Director John B. Hansen sold 1,000 shares of the stock in a transaction dated 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 owns 94,914 shares of the company’s stock, valued at $7,886,404.26. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, CEO Gregory L. Christopher sold 50,000 shares of the firm’s stock in a transaction dated 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 transaction, the chief executive officer now owns 1,214,311 shares of the company’s stock, valued at approximately $84,904,625.12. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director John B. Hansen sold 1,000 shares of the firm’s stock in a transaction dated Wednesday, October 30th. The shares were sold at an average price of $83.09, for a total transaction of $83,090.00. Following the completion of 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 disclosure for this sale can be found here. Insiders have sold 96,000 shares of company stock valued at $6,626,940 in the last 90 days. 2.80% of the stock is currently owned by corporate 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.