Mueller Water Products, Inc. (NYSE:MWA) announced a quarterly dividend on Thursday, April 20th. Stockholders of record on Wednesday, May 10th will be given a dividend of 0.04 per share by the industrial products company on Monday, May 22nd. This represents a $0.16 annualized dividend and a dividend yield of 1.45%. The ex-dividend date of this dividend is Monday, May 8th.
Mueller Water Products has increased its dividend by an average of 16.3% annually over the last three years and has increased its dividend every year for the last 2 years. Mueller Water Products has a dividend payout ratio of 35.6% meaning its dividend is sufficiently covered by earnings. Research analysts expect Mueller Water Products to earn $0.56 per share next year, which means the company should continue to be able to cover its $0.16 annual dividend with an expected future payout ratio of 28.6%.
Shares of Mueller Water Products (NYSE:MWA) opened at 11.31 on Friday. The stock’s 50 day moving average is $11.59 and its 200 day moving average is $12.55. Mueller Water Products has a 52-week low of $10.33 and a 52-week high of $14.20. The stock has a market cap of $1.80 billion, a price-to-earnings ratio of 15.26 and a beta of 1.35.
Mueller Water Products (NYSE:MWA) last posted its earnings results on Thursday, April 27th. The industrial products company reported $0.09 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.09. The company had revenue of $199.70 million during the quarter, compared to the consensus estimate of $206 million. Mueller Water Products had a net margin of 6.06% and a return on equity of 19.52%. The company’s revenue for the quarter was up 1.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.10 earnings per share. On average, equities analysts expect that Mueller Water Products will post $0.45 earnings per share for the current fiscal year.
MWA has been the subject of a number of analyst reports. Goldman Sachs Group Inc initiated coverage on shares of Mueller Water Products in a research note on Wednesday, March 8th. They issued a “buy” rating and a $15.00 price objective for the company. Zacks Investment Research upgraded shares of Mueller Water Products from a “sell” rating to a “hold” rating in a research note on Tuesday, March 14th. Royal Bank of Canada restated a “buy” rating and issued a $15.00 price objective on shares of Mueller Water Products in a research note on Tuesday, March 14th. Oppenheimer Holdings Inc. restated an “outperform” rating and issued a $15.00 price objective on shares of Mueller Water Products in a research note on Thursday, March 23rd. Finally, CIBC restated an “outperform” rating and issued a $15.00 price objective on shares of Mueller Water Products in a research note on Friday, March 24th. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $13.71.
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A hedge fund recently raised its stake in Mueller Water Products stock. Teachers Advisors LLC increased its stake in shares of Mueller Water Products, Inc. (NYSE:MWA) by 2.6% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 268,638 shares of the industrial products company’s stock after buying an additional 6,927 shares during the period. Teachers Advisors LLC owned approximately 0.17% of Mueller Water Products worth $3,175,000 as of its most recent filing with the SEC. 84.26% of the stock is owned by institutional investors.
Mueller Water Products Company Profile
Mueller Water Products, Inc is a manufacturer and marketer of products and services used in the transmission, distribution and measurement of water in North America. The Company operates through three segments: Mueller Co, Anvil and Mueller Technologies. The Mueller Co segment manufactures valves for water and gas systems, and dry-barrel and wet-barrel fire hydrants.
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