Mueller Industries (MLI) Declares $0.30 Dividend

Mueller Industries said on May 5, 2023 that its board of directors declared a regular quarterly dividend of $0.30 per share ($1.20 annualized). Previously, the company paid $0.30 per share.

Shares must be purchased before the ex-div date of June 1, 2023 to qualify for the dividend. Shareholders of record as of June 2, 2023 will receive the payment on June 16, 2023.

At the current share price of $74.48 / share, the stock's dividend yield is 1.61%.

Looking back five years and taking a sample every week, the average dividend yield has been 1.39%, the lowest has been 0.85%, and the highest has been 2.11%. The standard deviation of yields is 0.24 (n=236).

The current dividend yield is 0.89 standard deviations above the historical average.

Additionally, the company's dividend payout ratio is 0.10. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.

The company's 3-Year dividend growth rate is 2.00%, demonstrating that it has increased its dividend over time.

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What is the Fund Sentiment?

There are 748 funds or institutions reporting positions in Mueller Industries. This is an increase of 38 owner(s) or 5.35% in the last quarter. Average portfolio weight of all funds dedicated to MLI is 0.25%, a decrease of 9.23%. Total shares owned by institutions increased in the last three months by 0.49% to 65,781K shares. The put/call ratio of MLI is 1.30, indicating a bearish outlook.

Analyst Price Forecast Suggests 36.95% Upside

As of April 24, 2023, the average one-year price target for Mueller Industries is 102.00. The forecasts range from a low of 101.00 to a high of $105.00. The average price target represents an increase of 36.95% from its latest reported closing price of 74.48.

See our leaderboard of companies with the largest price target upside.

The projected annual revenue for Mueller Industries is 3,342MM, a decrease of 15.26%. The projected annual non-GAAP EPS is 6.31.

What are Other Shareholders Doing?

IJR - iShares Core S&P Small-Cap ETF holds 4,214K shares representing 7.39% ownership of the company. In it's prior filing, the firm reported owning 4,147K shares, representing an increase of 1.57%. The firm decreased its portfolio allocation in MLI by 8.26% over the last quarter.

Allspring Global Investments Holdings holds 3,060K shares representing 5.37% ownership of the company. In it's prior filing, the firm reported owning 3,544K shares, representing a decrease of 15.80%. The firm increased its portfolio allocation in MLI by 4.36% over the last quarter.

ESPAX - Wells Fargo Special Small Cap Value Fund holds 2,878K shares representing 5.05% ownership of the company. In it's prior filing, the firm reported owning 3,140K shares, representing a decrease of 9.12%. The firm decreased its portfolio allocation in MLI by 15.81% over the last quarter.

Gamco Investors, Inc. Et Al holds 2,459K shares representing 4.31% ownership of the company. In it's prior filing, the firm reported owning 2,614K shares, representing a decrease of 6.31%. The firm decreased its portfolio allocation in MLI by 14.72% over the last quarter.

Gabelli Funds holds 1,670K shares representing 2.93% ownership of the company. In it's prior filing, the firm reported owning 1,798K shares, representing a decrease of 7.63%. The firm decreased its portfolio allocation in MLI by 13.07% over the last quarter.

Mueller Industries Background Information
(This description is provided by the company.)

Since 1917, Mueller Industries companies have built a well-earned reputation for providing high-quality products. Through its various operations and brands, the company now supplies a global audience with a broad offering of products. Mueller's companies support many different markets, industries, customers, and channels. The company's principal business segments includes Piping Systems, Climate Products, and Industrial Metals. Every day its products can be found as critical components in applications ranging from potable water distribution to automotive drive trains to household appliances to radar defense systems, and more, quietly doing their part to make life and business better.

This story originally appeared on Fintel.