5 Best Debt Free Dividend Stocks to Buy

3. Mueller Industries, Inc. (NYSE:MLI)

Number of Hedge Fund Holders: 27

Dividend Yield as of April 19: 1.76%

Mueller Industries, Inc. (NYSE:MLI) is a leading manufacturer of copper, brass, aluminum, and plastic products for a broad range of industries including plumbing, heating, ventilation, air conditioning and refrigeration (HVACR), industrial manufacturing, appliance, transportation, medical, military and defense and electrical.

On April 25, Mueller Industries, Inc. (NYSE:MLI) released its financial results for Q1 2023. Its net revenue declined by 4% y-o-y to $971 million while net income increased by 9% y-o-y to $173 million. The company generated a normalized EPS of $3.07 for the quarter which exceeded consensus estimates by $1.20.

Earlier in February, the board of directors of Mueller Industries, Inc. (NYSE:MLI) increased the regular quarterly dividend by 20% to $0.30 per share which marked the third consecutive double digit increase to the company’s quarterly dividend.