Mueller Industries, Inc. (NYSE:MLI) Declares Quarterly Dividend of $0.35

Mueller Industries, Inc. (NYSE:MLI) announced a quarterly dividend on Friday, May 8th. Investors 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) dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date of this dividend is Friday, June 5th.

Mueller Industries has raised its dividend payment by an average of 0.4%per year over the last three years and has raised its dividend every year for the last 5 years. Mueller Industries has a dividend payout ratio of 20.4% meaning its dividend is sufficiently covered by earnings.

Mueller Industries Stock Up 3.4%

Shares of Mueller Industries stock opened at $130.64 on Wednesday. The stock has a market capitalization of $14.44 billion, a P/E ratio of 17.10 and a beta of 1.09. The company has a 50-day simple moving average of $126.31 and a 200 day simple moving average of $120.77. Mueller Industries has a 12-month low of $72.16 and a 12-month high of $141.51.

Mueller Industries’s stock is set to split on the morning of Wednesday, July 1st. The 2-1 split was announced on Monday, June 1st. The newly created 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, beating the consensus estimate 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 net margin of 19.37% and a return on equity of 25.97%. The company’s quarterly revenue was up 19.3% compared to the same quarter last year. During the same quarter last year, the company posted $1.39 EPS.

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.