Mueller Industries, Inc. (MLI) to Distribute Quarterly Dividend of $0.17 on September 18th

Mueller Industries, Inc. (NYSE:MLI) declared a quarterly dividend on Thursday, August 6th. Investors of record on Friday, September 4th will be given a dividend of 0.175 per share by the industrial products company on Friday, September 18th. This represents a c) annualized dividend and a dividend yield of 1.1%. The ex-dividend date is Friday, September 4th.

Mueller Industries has raised its dividend payment by an average of 0.4%annually over the last three years and has raised its dividend every year for the last 5 years. Mueller Industries has a payout ratio of 10.2% indicating that its dividend is sufficiently covered by earnings.

Mueller Industries Stock Down 2.3%

Shares of MLI opened at $60.99 on Wednesday. The company has a 50 day moving average of $62.88 and a two-hundred day moving average of $62.64. Mueller Industries has a twelve month low of $47.11 and a twelve month high of $71.12. The company has a market cap of $13.49 billion, a price-to-earnings ratio of 15.88 and a beta of 1.10.

Mueller Industries (NYSE:MLI) last issued its quarterly earnings results on Tuesday, July 21st. The industrial products company reported $1.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.09 by $0.04. The business had revenue of $1.43 billion for the quarter, compared to the consensus estimate of $1.27 billion. Mueller Industries had a return on equity of 25.68% and a net margin of 18.25%.The business’s quarterly revenue was up 25.5% on a year-over-year basis. During the same period in the prior year, the firm posted $1.96 earnings per share.

About Mueller Industries

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.