Mueller Industries, Inc. (NYSE:MLI) Plans Quarterly Dividend of $0.20

Mueller Industries, Inc. (NYSE:MLI) declared a quarterly dividend on Friday, November 8th,RTT News reports. Shareholders 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 dividend on an annualized basis and a yield of 0.85%.

Mueller Industries has raised its dividend payment by an average of 44.2% annually over the last three years. Mueller Industries has a payout ratio of 15.1% indicating that its dividend is sufficiently covered by earnings.

Mueller Industries Stock Up 1.0 %

Shares of Mueller Industries stock traded up $0.89 during mid-day trading on Friday, hitting $94.40. The stock had a trading volume of 677,008 shares, compared to its average volume of 720,480. The firm has a market cap of $10.74 billion, a P/E ratio of 18.16 and a beta of 1.01. The firm has a 50-day moving average of $74.58 and a two-hundred day moving average of $65.66. Mueller Industries has a 12-month low of $37.54 and a 12-month high of $95.84.

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

Insider Activity at Mueller Industries

In other news, Director John B. Hansen sold 1,000 shares of the business’s stock in a transaction dated Wednesday, October 30th. The stock was sold at an average price of $83.09, for a total transaction of $83,090.00. Following the completion of the sale, the director now 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Mueller Industries news, Director John B. Hansen sold 1,000 shares of the company’s stock in a transaction dated Wednesday, October 30th. The shares were sold at an average price of $83.09, for a total value of $83,090.00. Following the completion of the sale, the director now directly owns 94,914 shares of the company’s stock, valued at approximately $7,886,404.26. This 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 this hyperlink. Also, CEO Gregory L. Christopher sold 45,000 shares of the stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $67.73, for a total value of $3,047,850.00. Following the sale, the chief executive officer now owns 1,264,311 shares of the company’s stock, valued at $85,631,784.03. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 96,000 shares of company stock worth $6,626,940 in the last 90 days. 2.80% of the stock is owned by insiders.

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.