Mueller Industries, Inc. (NYSE:MLI) Plans Quarterly Dividend of $0.10

Posted by on Dec 4th, 2019

Mueller Industries, Inc. (NYSE:MLI) declared a quarterly dividend on Friday, November 8th, RTT News reports. Investors of record on Friday, December 6th will be paid a dividend of 0.10 per share by the industrial products company on Friday, December 20th. This represents a $0.40 annualized dividend and a yield of 1.28%. The ex-dividend date of this dividend is Thursday, December 5th.

NYSE MLI opened at $31.16 on Wednesday. Mueller Industries has a 1 year low of $21.49 and a 1 year high of $34.24. The company has a debt-to-equity ratio of 0.73, a current ratio of 2.96 and a quick ratio of 1.84. The stock has a market capitalization of $1.79 billion, a PE ratio of 14.74 and a beta of 1.38. The company’s 50 day simple moving average is $30.77 and its two-hundred day simple moving average is $28.68.

Mueller Industries (NYSE:MLI) last released its quarterly earnings results on Tuesday, October 22nd. The industrial products company reported $0.52 EPS for the quarter, beating analysts’ consensus estimates of $0.44 by $0.08. The firm had revenue of $608.60 million during the quarter. Mueller Industries had a net margin of 4.07% and a return on equity of 20.22%. The firm’s revenue for the quarter was down 5.8% on a year-over-year basis. During the same quarter last year, the firm earned $0.35 earnings per share.

In other news, CEO Gregory L. Christopher sold 3,713 shares of Mueller Industries stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $32.00, for a total transaction of $118,816.00. Following the completion of the sale, the chief executive officer now directly owns 528,953 shares of the company’s stock, valued at approximately $16,926,496. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director John B. Hansen sold 1,500 shares of the company’s stock in a transaction on Monday, October 28th. The stock was sold at an average price of $30.89, for a total transaction of $46,335.00. Following the completion of the transaction, the director now owns 44,107 shares of the company’s stock, valued at $1,362,465.23. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 47,889 shares of company stock worth $1,511,794. 3.30% of the stock is owned by company insiders.

MLI has been the subject of several research analyst reports. TheStreet raised Mueller Industries from a “c+” rating to a “b-” rating in a research note on Thursday, November 7th. Zacks Investment Research lowered Mueller Industries from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, September 25th. Finally, ValuEngine lowered Mueller Industries from a “sell” rating to a “strong sell” rating in a research note on Thursday, October 17th.

About Mueller Industries

Mueller Industries, Inc engages in the manufacture of copper, brass, aluminum, and plastic products. It operates through the following segments: Piping Systems, Industrial Metals, and Climate. The Piping Systems segment consists of domestic piping systems group, Canadian operations, European operations, trading group, Jiangsu Mueller-Xingrong Copper Industries Limited, and Jungwoo Metal Ind.

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Dividend History for Mueller Industries (NYSE:MLI)

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