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

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

Mueller Industries has raised its dividend by an average of 0.4%annually over the last three years and has increased 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 Trading Down 0.2%

NYSE:MLI opened at $130.27 on Wednesday. Mueller Industries has a 12-month low of $72.16 and a 12-month high of $141.51. The firm has a market cap of $14.40 billion, a price-to-earnings ratio of 17.05 and a beta of 1.09. The company’s 50-day moving average is $126.31 and its two-hundred day moving average is $120.77.

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

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

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.