Mueller Industries, Inc. (NYSE:MLI) Announces Quarterly Dividend of $0.25

Key Points

• Mueller Industries, Inc. has announced a quarterly dividend of $0.25 per share, payable on September 19th to stockholders of record on September 5th, reflecting a 1.2% dividend yield.
• The company reported a strong quarterly earnings of $1.96 per share, exceeding analysts' expectations, with revenue increasing by 14.1% from the same quarter last year.
• Mueller Industries' dividend payout ratio sits at 14.6%, indicating effective coverage of its dividend by earnings.

Mueller Industries, Inc. (NYSE:MLI - Get Free Report) announced a quarterly dividend on Thursday, July 31st, RTT News reports. Stockholders of record on Friday, September 5th will be given a dividend of 0.25 per share by the industrial products company on Friday, September 19th. This represents a c) dividend on an annualized basis and a dividend yield of 1.2%.

Mueller Industries has a dividend payout ratio of 14.6% indicating that its dividend is sufficiently covered by earnings.

Mueller Industries Stock Performance

Shares of MLI stock traded down $2.15 during mid-day trading on Thursday, reaching $85.35. 1,066,792 shares of the company were exchanged, compared to its average volume of 1,031,551. Mueller Industries has a fifty-two week low of $62.74 and a fifty-two week high of $96.81. The company has a market capitalization of $9.45 billion, a P/E ratio of 13.55 and a beta of 1.01. The business's 50 day simple moving average is $80.52 and its 200 day simple moving average is $78.60.

Mueller Industries (NYSE:MLI - Get Free Report) last released its quarterly earnings results on Tuesday, July 22nd. The industrial products company reported $1.96 earnings per share for the quarter, topping analysts' consensus estimates of $1.62 by $0.34. The business had revenue of $1.14 billion during the quarter, compared to the consensus estimate of $1.12 billion. Mueller Industries had a net margin of 17.48% and a return on equity of 24.47%. The company's revenue was up 14.1% compared to the same quarter last year.

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.

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