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

Mueller Industries, Inc. (NYSE:MLI) announced a quarterly dividend on Thursday, August 6th. Investors of record on Friday, September 4th will be paid 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 increased its dividend every year for the last 5 years. Mueller Industries has a dividend payout ratio of 10.2% meaning its dividend is sufficiently covered by earnings.

Mueller Industries Price Performance

Shares of NYSE:MLI traded down $0.89 on Friday, hitting $68.57. The company’s stock had a trading volume of 252,001 shares, compared to its average volume of 1,523,572. The company has a market capitalization of $15.17 billion, a PE ratio of 17.86 and a beta of 1.11. Mueller Industries has a 1 year low of $44.03 and a 1 year high of $71.12. The company has a 50-day simple moving average of $63.78 and a 200 day simple moving average of $62.55.

Mueller Industries (NYSE:MLI) last posted its earnings results on Tuesday, July 21st. The industrial products company reported $1.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.09 by $0.04. Mueller Industries had a net margin of 18.25% and a return on equity of 25.68%. The business had revenue of $1.43 billion for the quarter, compared to analysts’ expectations of $1.27 billion. During the same quarter in the prior year, the business earned $1.96 EPS. The business’s revenue for the quarter was up 25.5% compared to the same quarter last year.

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.