Mueller Industries (NYSE:MLI) announced a quarterly dividend on Monday, February 26th, RTT News reports. Stockholders of record on Friday, March 16th will be paid a dividend of 0.10 per share by the industrial products company on Thursday, March 29th. This represents a $0.40 annualized dividend and a dividend yield of 1.50%. The ex-dividend date of this dividend is Thursday, March 15th.
Mueller Industries has raised its dividend by an average of 10.1% per year over the last three years and has raised its dividend every year for the last 6 years.
Shares of MLI stock traded up $0.30 during trading hours on Thursday, hitting $26.61. The stock had a trading volume of 187,849 shares, compared to its average volume of 292,324. The company has a current ratio of 3.05, a quick ratio of 1.70 and a debt-to-equity ratio of 0.84. Mueller Industries has a one year low of $25.26 and a one year high of $37.57. The stock has a market capitalization of $1,502.43, a price-to-earnings ratio of 17.52 and a beta of 1.42.
In related news, Director Gary S. Gladstein bought 13,400 shares of the stock in a transaction on Thursday, February 15th. The stock was bought at an average price of $26.14 per share, for a total transaction of $350,276.00. Following the completion of the acquisition, the director now directly owns 89,963 shares in the company, valued at $2,351,632.82. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Gary Westermeyer purchased 1,000 shares of Mueller Industries stock in a transaction dated Thursday, February 22nd. The shares were acquired at an average cost of $26.95 per share, for a total transaction of $26,950.00. Following the completion of the transaction, the insider now owns 15,292 shares of the company’s stock, valued at approximately $412,119.40. The disclosure for this purchase can be found here. 2.79% of the stock is owned by corporate insiders.
Separately, TheStreet lowered Mueller Industries from a “b” rating to a “c” rating in a research report on Tuesday, February 6th.
Mueller Industries Company Profile
Mueller Industries, Inc manufactures and sells copper, brass, aluminum, and plastic products in the United States, the United Kingdom, Canada, Asia, and Mexico. Its Piping Systems segment manufactures copper tubes and fittings, plastic fittings, line sets, and related components for water distribution system, heating system, air-conditioning, and refrigeration applications, as well as drainage, waste, and vent systems.
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