Mueller Industries, Inc. (MLI) To Go Ex-Dividend on December 5th

Mueller Industries, Inc. (NYSE:MLI) declared a quarterly dividend on Friday, November 7th. Investors of record on Friday, December 5th will be given a dividend of 0.25 per share by the industrial products company on Friday, December 19th. This represents a c) annualized dividend and a yield of 0.9%. The ex-dividend date of this dividend is Friday, December 5th.

Mueller Industries has increased its dividend payment by an average of 0.3%annually over the last three years and has increased its dividend every year for the last 5 years. Mueller Industries has a dividend payout ratio of 14.6% meaning its dividend is sufficiently covered by earnings.

Mueller Industries Price Performance

Shares of NYSE MLI traded up $1.19 during midday trading on Wednesday, hitting $111.93. The stock had a trading volume of 208,198 shares, compared to its average volume of 924,789. The firm has a market cap of $12.42 billion, a P/E ratio of 16.73 and a beta of 1.04. Mueller Industries has a fifty-two week low of $66.84 and a fifty-two week high of $113.15. The company’s 50-day simple moving average is $104.13 and its 200 day simple moving average is $92.55.

Mueller Industries (NYSE:MLI) last announced its quarterly earnings data on Tuesday, October 21st. The industrial products company reported $1.88 EPS for the quarter, missing analysts’ consensus estimates of $1.99 by ($0.11). The firm had revenue of $1.08 billion during the quarter, compared to analyst estimates of $942.00 million. Mueller Industries had a return on equity of 25.02% and a net margin of 18.10%.Mueller Industries’s revenue for the quarter was up 8.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.48 earnings per share.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Mueller Industries in a report on Wednesday, October 8th. Two analysts have rated the stock with a Buy rating, According to MarketBeat, the company has an average rating of “Buy” and an average target price of $105.00.

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.