Mueller Industries, Inc. (NYSE:MLI) declared a quarterly dividend on Friday, November 8th, RTT News reports. Investors 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 annualized dividend and a dividend yield of 1.29%. The ex-dividend date is Thursday, December 5th.
NYSE:MLI opened at $31.12 on Tuesday. The firm has a market capitalization of $1.79 billion, a P/E ratio of 16.73 and a beta of 1.38. The company has a debt-to-equity ratio of 0.73, a current ratio of 2.96 and a quick ratio of 1.84. Mueller Industries has a one year low of $21.49 and a one year high of $34.24. The company’s 50-day simple moving average is $30.71 and its 200 day simple moving average is $28.66.
Mueller Industries (NYSE:MLI) last announced its earnings results on Tuesday, October 22nd. The industrial products company reported $0.52 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.44 by $0.08. The business 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%. Mueller Industries’s revenue for the quarter was down 5.8% on a year-over-year basis. During the same period in the prior year, the business posted $0.35 EPS.
In other news, CEO Gregory L. Christopher sold 3,713 shares of the firm’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $32.00, for a total transaction of $118,816.00. Following the sale, the chief executive officer now owns 528,953 shares of the company’s stock, valued at approximately $16,926,496. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Gregory L. Christopher sold 8,497 shares of Mueller Industries stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $32.00, for a total transaction of $271,904.00. Following the completion of the sale, the chief executive officer now owns 520,456 shares of the company’s stock, valued at $16,654,592. The disclosure for this sale can be found here. In the last three months, insiders sold 47,889 shares of company stock valued at $1,511,794. Corporate insiders own 3.30% of the company’s stock.
MLI has been the topic of a number of recent analyst reports. Zacks Investment Research cut shares of Mueller Industries from a “strong-buy” rating to a “hold” rating in a report on Wednesday, September 25th. ValuEngine downgraded shares of Mueller Industries from a “sell” rating to a “strong sell” rating in a research report on Thursday, October 17th. Finally, TheStreet upgraded shares of Mueller Industries from a “c+” rating to a “b-” rating in a report on Thursday, November 7th.
Mueller Industries Company Profile
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.
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.