Mueller Industries, Inc. Declares Quarterly Dividend of $0.10 (NYSE:MLI)

Mueller Industries, Inc. (NYSE:MLI) announced a quarterly dividend on Friday, November 8th, RTT News reports. Shareholders of record on Friday, December 6th will be paid a dividend of 0.10 per share by the industrial products company on Friday, December 20th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.26%.

Shares of NYSE:MLI opened at $31.87 on Friday. The firm has a fifty day moving average of $29.24 and a two-hundred day moving average of $28.44. The firm has a market capitalization of $1.79 billion, a P/E ratio of 17.13 and a beta of 1.38. Mueller Industries has a 12-month low of $21.49 and a 12-month high of $34.24. The company has a quick ratio of 1.84, a current ratio of 2.96 and a debt-to-equity ratio of 0.73.

Mueller Industries (NYSE:MLI) last issued its earnings results on Tuesday, October 22nd. The industrial products company reported $0.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.44 by $0.08. The company had revenue of $608.60 million during the quarter. Mueller Industries had a net margin of 4.07% and a return on equity of 20.22%. The company’s quarterly revenue was down 5.8% on a year-over-year basis. During the same period last year, the business earned $0.35 EPS. Equities research analysts expect that Mueller Industries will post 1.52 earnings per share for the current fiscal year.

A number of equities research analysts have issued reports on MLI shares. ValuEngine lowered shares of Mueller Industries from a “sell” rating to a “strong sell” rating in a research note on Thursday, October 17th. TheStreet raised shares of Mueller Industries from a “c+” rating to a “b-” rating in a research note on Thursday. Finally, Zacks Investment Research lowered shares of Mueller Industries from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, September 25th.

In related news, CEO Gregory L. Christopher sold 14,992 shares of Mueller Industries stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $32.01, for a total value of $479,893.92. Following the completion of the sale, the chief executive officer now owns 532,666 shares of the company’s stock, valued at approximately $17,050,638.66. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Gennaro J. Fulvio sold 10,383 shares of Mueller Industries stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $26.62, for a total transaction of $276,395.46. Following the completion of the sale, the director now directly owns 2,000 shares of the company’s stock, valued at approximately $53,240. The disclosure for this sale can be found here. In the last ninety days, insiders sold 46,062 shares of company stock valued at $1,397,469. 3.30% of the stock is owned by company insiders.

About Mueller Industries

Mueller Industries, Inc engages in the manufacture of copper, brass, aluminum, and plastic products. It operates through the following segments: Piping Systems, Industrial Metals, and Climate. The Piping Systems segment consists of domestic piping systems group, Canadian operations, European operations, trading group, Jiangsu Mueller-Xingrong Copper Industries Limited, and Jungwoo Metal Ind.

See Also: Why do companies engage in swaps?

Dividend History for Mueller Industries (NYSE:MLI)

Receive News & Ratings for Mueller Industries Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Mueller Industries and related companies with MarketBeat.com's FREE daily email newsletter.