Mueller Industries, Inc. (NYSE:MLI) declared a quarterly dividend on Monday, February 26th, RTT News reports. Investors of record on Friday, March 16th will be given 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 1.44%.
Mueller Industries has raised its dividend by an average of 10.1% annually over the last three years and has raised its dividend annually for the last 6 consecutive years.
Mueller Industries (NYSE:MLI) traded up $0.52 during trading hours on Monday, hitting $27.71. 88,300 shares of the company traded hands, compared to its average volume of 290,790. The company has a debt-to-equity ratio of 0.84, a current ratio of 3.05 and a quick ratio of 1.70. The firm has a market cap of $1,571.72, a price-to-earnings ratio of 18.44 and a beta of 1.27. Mueller Industries has a 1-year low of $25.59 and a 1-year high of $43.43.
In other Mueller Industries news, Director Gary S. Gladstein bought 13,400 shares of Mueller Industries stock in a transaction that occurred on Thursday, February 15th. The shares were acquired at an average price of $26.14 per share, for a total transaction of $350,276.00. Following the acquisition, the director now owns 89,963 shares of the company’s stock, valued at approximately $2,351,632.82. The acquisition was disclosed in a filing with the SEC, which is available at this link. Also, insider Gary Westermeyer bought 1,000 shares of Mueller Industries stock in a transaction that occurred on Thursday, February 22nd. The shares were acquired at an average price of $26.95 per share, for a total transaction of $26,950.00. Following the acquisition, the insider now directly owns 15,292 shares in the company, valued at approximately $412,119.40. The disclosure for this purchase can be found here. Insiders own 2.79% of the company’s stock.
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About Mueller Industries
Mueller Industries, Inc is a manufacturer of copper, brass, aluminum and plastic products. The Company operates through three segments: Piping Systems, Industrial Metals and Climate. The Company’s products include copper tube and fittings; line sets; brass and copper alloy rod, bar, and shapes; aluminum and brass forgings; aluminum impact extrusions; plastic fittings and valves; refrigeration valves and fittings; fabricated tubular products, and steel nipples.
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