Mueller Industries, Inc. to Issue Quarterly Dividend of $0.17 (NYSE:MLI)

Key Points

• Mueller Industries declared a quarterly dividend of $0.175 per share, payable September 18 to shareholders of record September 4; the stock has raised its dividend for five consecutive years and has a 10.2% payout ratio.
• The company’s latest quarterly results exceeded expectations, with EPS of $1.13 versus the $1.09 consensus and revenue of $1.43 billion compared with estimates of $1.27 billion. Revenue increased 25.5% year over year.
• Mueller Industries shares recently traded at $68.54, near their 12-month high of $71.12, while institutional investors own a substantial 94.5% of outstanding shares.

Mueller Industries, Inc. (NYSE:MLI - Get Free Report) declared a quarterly dividend on Thursday, August 6th. Shareholders of record on Friday, September 4th will be given a dividend of 0.175 per share by the industrial products company on Friday, September 18th. This represents a c) dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date of this dividend is Friday, September 4th.

Mueller Industries has increased its dividend payment by an average of 0.4%annually over the last three years and has raised its dividend annually for the last 5 consecutive years. Mueller Industries has a dividend payout ratio of 10.2% indicating that its dividend is sufficiently covered by earnings.

Mueller Industries Stock Performance

Shares of NYSE MLI traded down $0.92 during mid-day trading on Friday, hitting $68.54. The stock had a trading volume of 231,441 shares, compared to its average volume of 1,523,519. The company has a 50 day moving average of $63.78 and a two-hundred day moving average of $62.55. Mueller Industries has a twelve month low of $44.03 and a twelve month high of $71.12. The firm has a market cap of $15.16 billion, a PE ratio of 17.89 and a beta of 1.11.

Mueller Industries (NYSE:MLI - Get Free Report) last issued its quarterly earnings results on Tuesday, July 21st. The industrial products company reported $1.13 EPS for the quarter, topping analysts' consensus estimates of $1.09 by $0.04. The company had revenue of $1.43 billion during the quarter, compared to analysts' expectations of $1.27 billion. Mueller Industries had a return on equity of 25.68% and a net margin of 18.25%.The firm's revenue was up 25.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.96 EPS.

Insider Transactions at Mueller Industries

In other Mueller Industries news, Director John B. Hansen sold 1,000 shares of Mueller Industries stock in a transaction on Tuesday, August 4th. The shares were sold at an average price of $68.13, for a total value of $68,130.00. Following the completion of the transaction, the director owned 29,000 shares of the company's stock, valued at approximately $1,975,770. The trade was a 3.33% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 2.30% of the company's stock.

Institutional Investors Weigh In On Mueller Industries

A number of institutional investors have recently modified their holdings of MLI. Activest Wealth Management purchased a new position in Mueller Industries during the fourth quarter worth approximately $27,000. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in shares of Mueller Industries during the 2nd quarter worth approximately $29,000. Arlington Trust Co LLC acquired a new position in shares of Mueller Industries during the 2nd quarter worth approximately $30,000. NBT Bank N A NY lifted its position in shares of Mueller Industries by 148.7% during the 1st quarter. NBT Bank N A NY now owns 286 shares of the industrial products company's stock valued at $32,000 after buying an additional 171 shares in the last quarter. Finally, Western Pacific Wealth Management LP acquired a new stake in Mueller Industries in the 1st quarter valued at $34,000. 94.50% of the stock is currently owned by institutional investors and hedge funds.

Mueller Industries Company Profile

Mueller Industries, Inc is a diversified manufacturer and marketer of copper, brass, aluminum and plastic products. Headquartered in Memphis, Tennessee, the company serves a wide range of markets including HVAC (heating, ventilation and air conditioning), refrigeration, plumbing, industrial gas, automotive and agricultural sectors. Its product portfolio encompasses copper and plastic tubing, brass fittings, valves and related components designed for fluid handling and temperature control applications.

The company operates through multiple business segments, including the Plumbing & Refrigeration segment, which supplies copper and plastic tubing, fittings and valves for residential and commercial construction markets; the Industrial Metals & Mining segment, which provides aluminum shapes and specialty brass products for industrial applications; and the Climate segment, which focuses on copper tubing and components for air conditioning and refrigeration systems.

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