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

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) declared a quarterly dividend on Thursday, July 31st, RTT News reports. Shareholders of record on Friday, September 5th will be paid a dividend of 0.25 per share by the industrial products company on Friday, September 19th. This represents a c) annualized dividend and a yield of 1.2%. The ex-dividend date of this dividend is Friday, September 5th.

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

Mueller Industries Stock Up 2.6%

MLI traded up $2.15 during trading on Monday, hitting $85.49. The company's stock had a trading volume of 107,996 shares, compared to its average volume of 1,024,998. The firm's 50 day moving average price is $80.86 and its two-hundred day moving average price is $78.62. Mueller Industries has a 12 month low of $62.74 and a 12 month high of $96.81. The stock has a market capitalization of $9.46 billion, a price-to-earnings ratio of 13.55 and a beta of 1.02.

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

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.