Mueller Industries, Inc. (NYSE:MLI – Get Free Report) announced a quarterly dividend on Thursday, August 1st, RTT News reports. Stockholders of record on Friday, September 6th will be given a dividend of 0.20 per share by the industrial products company on Friday, September 20th. This represents a $0.80 annualized dividend and a dividend yield of 1.17%.
Mueller Industries has increased its dividend payment by an average of 44.2% per year over the last three years. Mueller Industries has a payout ratio of 15.1% indicating that its dividend is sufficiently covered by earnings.
Mueller Industries Price Performance
Shares of MLI traded down $2.30 during trading hours on Thursday, hitting $68.64. The stock had a trading volume of 940,950 shares, compared to its average volume of 688,111. The company’s fifty day moving average is $59.16 and its two-hundred day moving average is $54.75. Mueller Industries has a 52 week low of $34.96 and a 52 week high of $72.68. The stock has a market capitalization of $7.80 billion, a price-to-earnings ratio of 13.76 and a beta of 1.06.
Insiders Place Their Bets
In other Mueller Industries news, Director Elizabeth M. Donovan sold 2,000 shares of the stock in a transaction dated Thursday, May 30th. The shares were sold at an average price of $57.73, for a total transaction of $115,460.00. Following the sale, the director now owns 24,733 shares of the company’s stock, valued at approximately $1,427,836.09. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, Director John B. Hansen sold 2,733 shares of the firm’s stock in a transaction dated Monday, May 13th. The shares were sold at an average price of $58.61, for a total value of $160,181.13. Following the transaction, the director now owns 103,914 shares of the company’s stock, valued at approximately $6,090,399.54. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Elizabeth M. Donovan sold 2,000 shares of the firm’s stock in a transaction dated Thursday, May 30th. The shares were sold at an average price of $57.73, for a total transaction of $115,460.00. Following the completion of the transaction, the director now directly owns 24,733 shares in the company, valued at approximately $1,427,836.09. The disclosure for this sale can be found here. Insiders own 2.80% of the company’s stock.
Mueller Industries Company Profile
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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