Mueller Industries, Inc. (MLI) To Go Ex-Dividend on June 5th

Mueller Industries, Inc. (NYSE:MLI) announced a quarterly dividend on Friday, May 8th. Stockholders of record on Friday, June 5th will be paid a dividend of 0.35 per share by the industrial products company on Friday, June 19th. This represents a c) annualized dividend and a dividend yield of 1.1%. The ex-dividend date of this dividend is Friday, June 5th.

Mueller Industries has increased its dividend by an average of 0.4%per year 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 20.4% indicating that its dividend is sufficiently covered by earnings.

Mueller Industries Stock Up 3.4%

MLI opened at $130.64 on Wednesday. The stock’s fifty day moving average is $126.31 and its two-hundred day moving average is $120.77. The company has a market capitalization of $14.44 billion, a P/E ratio of 17.10 and a beta of 1.09. Mueller Industries has a 52 week low of $72.16 and a 52 week high of $141.51.

Shares of Mueller Industries are set to split on Wednesday, July 1st. The 2-1 split was announced on Monday, June 1st. The newly minted shares will be payable to shareholders after the market closes on Tuesday, June 30th.

Mueller Industries (NYSE:MLI) last posted its quarterly earnings data on Tuesday, April 21st. The industrial products company reported $2.16 earnings per share for the quarter, topping analysts’ consensus estimates of $1.49 by $0.67. The firm had revenue of $1.19 billion during the quarter, compared to analysts’ expectations of $1.10 billion. Mueller Industries had a return on equity of 25.97% and a net margin of 19.37%.The business’s quarterly revenue was up 19.3% on a year-over-year basis. During the same quarter last year, the firm earned $1.39 EPS.

About Mueller Industries

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.