Mueller Industries, Inc. (NYSE:MLI) announced a quarterly dividend on Friday, November 8th, RTT News reports. Investors of record on Friday, December 6th will be given a dividend of 0.10 per share by the industrial products company on Friday, December 20th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.26%.
Shares of MLI stock traded up $0.05 during trading on Friday, hitting $31.73. 47,772 shares of the company were exchanged, compared to its average volume of 207,220. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.84 and a current ratio of 2.96. The firm has a market capitalization of $1.79 billion, a price-to-earnings ratio of 17.06 and a beta of 1.38. The business’s 50-day simple moving average is $29.19 and its 200 day simple moving average is $28.44. Mueller Industries has a twelve month low of $21.49 and a twelve month high of $34.24.
Mueller Industries (NYSE:MLI) last posted its quarterly earnings results on Tuesday, October 22nd. The industrial products company reported $0.52 EPS for the quarter, topping the consensus estimate of $0.44 by $0.08. The business had revenue of $608.60 million during the quarter. Mueller Industries had a net margin of 4.07% and a return on equity of 20.22%. The business’s revenue for the quarter was down 5.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.35 earnings per share. On average, equities analysts forecast that Mueller Industries will post 1.52 earnings per share for the current fiscal year.
Several research analysts recently issued reports on MLI shares. TheStreet downgraded shares of Mueller Industries from a “b-” rating to a “c+” rating in a research report on Wednesday, September 4th. ValuEngine lowered Mueller Industries from a “sell” rating to a “strong sell” rating in a research report on Thursday, October 17th. Finally, Zacks Investment Research lowered Mueller Industries from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, September 25th.
In related news, Director Gennaro J. Fulvio sold 10,383 shares of the business’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $26.62, for a total transaction of $276,395.46. Following the sale, the director now owns 2,000 shares of the company’s stock, valued at $53,240. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director John B. Hansen sold 1,500 shares of the business’s stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $30.89, for a total transaction of $46,335.00. Following the sale, the director now directly owns 44,107 shares in the company, valued at approximately $1,362,465.23. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 46,062 shares of company stock worth $1,397,469. Company insiders own 3.30% of the company’s stock.
Mueller Industries Company Profile
Mueller Industries, Inc engages in the manufacture of copper, brass, aluminum, and plastic products. It operates through the following segments: Piping Systems, Industrial Metals, and Climate. The Piping Systems segment consists of domestic piping systems group, Canadian operations, European operations, trading group, Jiangsu Mueller-Xingrong Copper Industries Limited, and Jungwoo Metal Ind.
Further Reading: Should you buy a closed-end mutual fund?
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.