Mueller Industries, Inc. (NYSE:MLI) Raises Dividend to $0.35 Per Share

Mueller Industries, Inc. (NYSE:MLI) declared a quarterly dividend on Thursday, February 19th. Investors of record on Friday, March 13th will be given a dividend of 0.35 per share by the industrial products company on Friday, March 27th. This represents a c) dividend on an annualized basis and a yield of 1.2%. The ex-dividend date is Friday, March 13th. This is a 40.0% increase from Mueller Industries’s previous quarterly dividend of $0.25.

Mueller Industries has increased its dividend payment by an average of 0.4%annually over the last three years and has increased its dividend annually for the last 5 consecutive years. Mueller Industries has a payout ratio of 14.6% meaning its dividend is sufficiently covered by earnings.

Mueller Industries Stock Performance

Shares of MLI stock traded down $0.14 during trading hours on Friday, reaching $118.96. The company had a trading volume of 114,967 shares, compared to its average volume of 889,203. Mueller Industries has a 12-month low of $66.84 and a 12-month high of $139.29. The company has a market capitalization of $13.21 billion, a price-to-earnings ratio of 17.29 and a beta of 1.03. The stock has a fifty day moving average of $122.38 and a 200-day moving average of $108.47.

About Mueller Industries

Mueller Industries, Inc is a diversified manufacturer and marketer of copper, brass, aluminum and plastic products. Headquartered in Memphis, Tennessee, the company serves a wide range of markets including HVAC (heating, ventilation and air conditioning), refrigeration, plumbing, industrial gas, automotive and agricultural sectors. Its product portfolio encompasses copper and plastic tubing, brass fittings, valves and related components designed for fluid handling and temperature control applications.

The company operates through multiple business segments, including the Plumbing & Refrigeration segment, which supplies copper and plastic tubing, fittings and valves for residential and commercial construction markets; the Industrial Metals & Mining segment, which provides aluminum shapes and specialty brass products for industrial applications; and the Climate segment, which focuses on copper tubing and components for air conditioning and refrigeration systems.