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

Mueller Industries, Inc. (NYSE:MLI - Get Free Report) announced a quarterly dividend on Friday, May 10th, RTT News reports. Investors of record on Friday, June 7th will be paid a dividend of 0.20 per share by the industrial products company on Friday, June 21st. This represents a $0.80 annualized dividend and a dividend yield of 1.35%.

Mueller Industries has raised its dividend by an average of 44.2% annually over the last three years and has increased its dividend annually for the last 4 consecutive years. Mueller Industries has a dividend payout ratio of 16.8% meaning its dividend is sufficiently covered by earnings.

Mueller Industries Trading Up 0.7 %

NYSE MLI traded up $0.41 during trading on Friday, hitting $59.27. 387,771 shares of the company's stock were exchanged, compared to its average volume of 669,155. The company has a market cap of $6.73 billion, a PE ratio of 11.80 and a beta of 1.08. Mueller Industries has a fifty-two week low of $34.96 and a fifty-two week high of $59.59. The stock's 50 day moving average price is $53.84 and its two-hundred day moving average price is $47.83.

Mueller Industries (NYSE:MLI - Get Free Report) last released its quarterly earnings data on Tuesday, February 6th. The industrial products company reported $1.05 earnings per share (EPS) for the quarter. Mueller Industries had a net margin of 17.22% and a return on equity of 24.69%. The business had revenue of $732.38 million during the quarter.

Insider Buying and Selling at Mueller Industries

In related news, Director John B. Hansen sold 4,000 shares of the firm's stock in a transaction on Thursday, April 25th. The stock was sold at an average price of $57.29, for a total transaction of $229,160.00. Following the completion of the transaction, the director now directly owns 104,214 shares of the company's stock, valued at approximately $5,970,420.06. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, CFO Jeffrey Andrew Martin sold 52,436 shares of the business's stock in a transaction that occurred on Friday, April 26th. The shares were sold at an average price of $57.25, for a total value of $3,001,961.00. Following the transaction, the chief financial officer now owns 313,529 shares in the company, valued at approximately $17,949,535.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director John B. Hansen sold 4,000 shares of the stock in a transaction on Thursday, April 25th. The stock was sold at an average price of $57.29, for a total transaction of $229,160.00. Following the sale, the director now owns 104,214 shares of the company's stock, valued at $5,970,420.06. The disclosure for this sale can be found here. Corporate insiders own 2.80% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. StockNews.com downgraded Mueller Industries from a "buy" rating to a "hold" rating in a report on Monday, January 22nd. Northcoast Research reissued a "neutral" rating on shares of Mueller Industries in a research note on Friday, January 19th.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.