Mueller Industries, Inc. (MLI) To Go Ex-Dividend on March 14th

Mueller Industries, Inc. (NYSE:MLI) announced a quarterly dividend on Friday, February 21st, RTT News reports. Investors 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 yield of 1.22%. The ex-dividend date is Friday, March 14th. This is a 25.0% increase from Mueller Industries’s previous quarterly dividend of $0.20.

Mueller Industries has increased its dividend payment by an average of 45.5% per year over the last three years. Mueller Industries has a dividend payout ratio of 15.7% meaning its dividend is sufficiently covered by earnings.

Mueller Industries Price Performance

Shares of NYSE MLI opened at $82.11 on Wednesday. The firm has a market cap of $9.30 billion, a price-to-earnings ratio of 15.46 and a beta of 0.99. The stock’s fifty day moving average price is $80.22 and its two-hundred day moving average price is $78.89. Mueller Industries has a one year low of $50.84 and a one year high of $96.81.

Mueller Industries (NYSE:MLI) last released its quarterly earnings results on Tuesday, February 4th. The industrial products company reported $1.21 EPS for the quarter, beating the consensus estimate of $1.12 by $0.09. Mueller Industries had a net margin of 16.05% and a return on equity of 22.97%.

Insider Activity

In related news, Director Scott Jay Goldman sold 10,000 shares of the business’s stock in a transaction dated Thursday, February 13th. The stock was sold at an average price of $79.81, for a total value of $798,100.00. Following the completion of the transaction, the director now owns 56,098 shares of the company’s stock, valued at $4,477,181.38. The trade was a 15.13 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 2.80% of the company’s stock.

Analyst Ratings Changes

Separately, Northcoast Research upgraded shares of Mueller Industries from a “neutral” rating to a “buy” rating and set a $105.00 price target for the company in a research report on Wednesday, December 11th.

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.