Mueller Industries, Inc. (NYSE:MLI – Get Free Report) announced a quarterly dividend on Thursday, August 1st, RTT News reports. Shareholders of record on Friday, September 6th will be paid a dividend of 0.20 per share by the industrial products company on Friday, September 20th. This represents a $0.80 dividend on an annualized basis and a yield of 1.22%.
Mueller Industries has raised its dividend payment by an average of 44.2% per year over the last three years. Mueller Industries has a dividend payout ratio of 15.1% meaning its dividend is sufficiently covered by earnings.
Mueller Industries Price Performance
Shares of NYSE:MLI opened at $65.79 on Friday. Mueller Industries has a 1-year low of $34.96 and a 1-year high of $72.68. The stock has a market cap of $7.46 billion, a P/E ratio of 13.76 and a beta of 1.05. The firm has a fifty day moving average price of $59.16 and a 200 day moving average price of $54.75.
Insider Buying and Selling at Mueller Industries
In related news, Director Elizabeth M. Donovan sold 2,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 30th. The stock was sold at an average price of $57.73, for a total value of $115,460.00. Following the completion of the transaction, the director now directly owns 24,733 shares of the company’s stock, valued at approximately $1,427,836.09. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director John B. Hansen sold 2,733 shares of the company’s stock in a transaction that occurred on Monday, May 13th. The stock was sold at an average price of $58.61, for a total value of $160,181.13. Following the sale, the director now owns 103,914 shares of the company’s stock, valued at approximately $6,090,399.54. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Elizabeth M. Donovan sold 2,000 shares of the business’s stock in a transaction on Thursday, May 30th. The shares were sold at an average price of $57.73, for a total value of $115,460.00. Following the completion of the transaction, the director now owns 24,733 shares of the company’s stock, valued at $1,427,836.09. The disclosure for this sale can be found here. 2.80% of the stock is currently owned by corporate insiders.
About Mueller Industries
Mueller Industries, Inc manufactures and sells copper, brass, aluminum, and plastic products in the United States, the United Kingdom, Canada, South Korea, the Middle East, China, and Mexico. It operates through three segments: Piping Systems, Industrial Metals, and Climate. The Piping Systems segment offers copper tubes, fittings, line sets, and pipe nipples.
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