Mueller Industries, Inc. (MLI) to Issue Quarterly Dividend of $0.20 on March 29th

Mueller Industries, Inc. (NYSE:MLIGet Free Report) declared a quarterly dividend on Friday, February 23rd, RTT News reports. Shareholders of record on Friday, March 15th will be paid a dividend of 0.20 per share by the industrial products company on Friday, March 29th. This represents a $0.80 annualized dividend and a yield of 1.63%. This is a boost from Mueller Industries’s previous quarterly dividend of $0.15.

Mueller Industries has increased its dividend by an average of 44.2% per year over the last three years and has increased its dividend every year for the last 3 years. Mueller Industries has a payout ratio of 16.2% indicating that its dividend is sufficiently covered by earnings.

Mueller Industries Stock Up 3.1 %

NYSE MLI opened at $49.14 on Friday. The stock’s 50-day moving average price is $47.53 and its 200-day moving average price is $42.25. Mueller Industries has a 52 week low of $32.94 and a 52 week high of $50.61. The company has a market capitalization of $5.58 billion, a P/E ratio of 9.25 and a beta of 1.10.

Insider Transactions at Mueller Industries

In related news, insider Steffen Sigloch sold 53,792 shares of Mueller Industries stock in a transaction that occurred on Tuesday, December 26th. The stock was sold at an average price of $47.59, for a total transaction of $2,559,961.28. Following the sale, the insider now owns 212,882 shares of the company’s stock, valued at approximately $10,131,054.38. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider Steffen Sigloch sold 53,792 shares of Mueller Industries stock in a transaction that occurred on Tuesday, December 26th. The stock was sold at an average price of $47.59, for a total transaction of $2,559,961.28. Following the sale, the insider now owns 212,882 shares of the company’s stock, valued at approximately $10,131,054.38. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director John B. Hansen sold 5,000 shares of Mueller Industries stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $49.33, for a total value of $246,650.00. Following the sale, the director now directly owns 18,000 shares in the company, valued at approximately $887,940. The disclosure for this sale can be found here. Insiders have sold 164,602 shares of company stock valued at $7,775,459 over the last quarter. 2.80% of the stock is currently owned by company insiders.

Institutional Trading of Mueller Industries

Several institutional investors and hedge funds have recently added to or reduced their stakes in MLI. Raymond James & Associates purchased a new position in Mueller Industries during the 1st quarter valued at approximately $379,000. HighTower Advisors LLC grew its holdings in Mueller Industries by 18.7% during the 1st quarter. HighTower Advisors LLC now owns 4,400 shares of the industrial products company’s stock valued at $239,000 after buying an additional 693 shares in the last quarter. Citigroup Inc. grew its holdings in Mueller Industries by 9.4% during the 1st quarter. Citigroup Inc. now owns 49,850 shares of the industrial products company’s stock valued at $2,700,000 after buying an additional 4,289 shares in the last quarter. Natixis Advisors L.P. grew its holdings in Mueller Industries by 18.1% during the 1st quarter. Natixis Advisors L.P. now owns 11,931 shares of the industrial products company’s stock valued at $646,000 after buying an additional 1,826 shares in the last quarter. Finally, Acadian Asset Management LLC grew its holdings in Mueller Industries by 607.0% during the 1st quarter. Acadian Asset Management LLC now owns 11,949 shares of the industrial products company’s stock valued at $644,000 after buying an additional 10,259 shares in the last quarter. Institutional investors own 94.50% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on MLI shares. StockNews.com downgraded Mueller Industries from a “buy” rating to a “hold” rating in a research note on Monday, January 22nd. Northcoast Research reaffirmed a “neutral” rating on shares of Mueller Industries in a research note on Friday, January 19th.

Get Our Latest Stock Report on MLI

Mueller Industries Company Profile

(Get Free Report)

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; PEX plumbing and radiant systems; and plumbing-related fittings and plastic injection tooling.

See Also

Dividend History for Mueller Industries (NYSE:MLI)

Receive News & Ratings for Mueller Industries Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Mueller Industries and related companies with MarketBeat.com's FREE daily email newsletter.