Mueller Industries, Inc. (NYSE:MLI) announced a quarterly dividend on Friday, November 9th, RTT News reports. Stockholders of record on Friday, December 7th will be paid a dividend of 0.10 per share by the industrial products company on Friday, December 21st. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.58%.
Mueller Industries has increased its dividend by an average of 10.1% annually over the last three years and has increased its dividend every year for the last 6 years. Mueller Industries has a dividend payout ratio of 22.0% meaning its dividend is sufficiently covered by earnings. Research analysts expect Mueller Industries to earn $1.70 per share next year, which means the company should continue to be able to cover its $0.40 annual dividend with an expected future payout ratio of 23.5%.
Shares of MLI opened at $25.32 on Friday. The company has a market capitalization of $1.54 billion, a PE ratio of 16.99 and a beta of 1.50. The company has a debt-to-equity ratio of 0.87, a current ratio of 3.12 and a quick ratio of 1.83. Mueller Industries has a fifty-two week low of $23.32 and a fifty-two week high of $37.57.
Mueller Industries (NYSE:MLI) last announced its quarterly earnings data on Tuesday, October 23rd. The industrial products company reported $0.37 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.41 by ($0.04). The business had revenue of $645.96 million during the quarter, compared to the consensus estimate of $583.39 million. Mueller Industries had a return on equity of 15.29% and a net margin of 3.37%. Equities research analysts expect that Mueller Industries will post 1.5 earnings per share for the current year.
A number of equities research analysts have recently weighed in on the stock. Zacks Investment Research lowered shares of Mueller Industries from a “hold” rating to a “strong sell” rating in a report on Friday, October 26th. TheStreet lowered shares of Mueller Industries from a “b-” rating to a “c+” rating in a report on Monday, October 29th. Boenning Scattergood restated a “hold” rating on shares of Mueller Industries in a report on Tuesday, October 23rd. Finally, ValuEngine lowered shares of Mueller Industries from a “hold” rating to a “sell” rating in a report on Monday, September 17th.
In other news, Director Scott Jay Goldman purchased 1,000 shares of the stock in a transaction that occurred on Friday, August 24th. The stock was bought at an average cost of $33.24 per share, for a total transaction of $33,240.00. Following the acquisition, the director now directly owns 11,000 shares of the company’s stock, valued at approximately $365,640. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Terry Hermanson purchased 4,000 shares of the stock in a transaction that occurred on Thursday, October 25th. The shares were purchased at an average price of $25.04 per share, with a total value of $100,160.00. Following the completion of the acquisition, the director now directly owns 29,126 shares in the company, valued at $729,315.04. The disclosure for this purchase can be found here. Insiders have purchased a total of 16,000 shares of company stock valued at $413,900 over the last quarter. 2.80% of the stock is currently owned by company insiders.
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Mueller Industries Company Profile
Mueller Industries, Inc manufactures and sells copper, brass, aluminum, and plastic products in the United States, the United Kingdom, Canada, Asia, and Mexico. Its Piping Systems segment manufactures copper tubes and fittings, plastic fittings, line sets, and related components for water distribution system, heating system, air-conditioning, and refrigeration applications, as well as drainage, waste, and vent systems.
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