Several other brokerages have also issued reports on MWA. Zacks Investment Research raised Mueller Water Products from a sell rating to a hold rating in a research note on Friday, August 2nd. Seaport Global Securities set a $12.00 target price on Mueller Water Products and gave the stock a buy rating in a research note on Wednesday, August 7th. Boenning Scattergood raised Mueller Water Products from a neutral rating to an outperform rating in a research note on Tuesday, August 6th. Finally, Goldman Sachs Group lowered Mueller Water Products from a neutral rating to a sell rating and cut their target price for the stock from $10.00 to $8.00 in a research note on Wednesday, June 26th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and five have assigned a buy rating to the company. The stock has a consensus rating of Buy and an average price target of $12.00.
Shares of MWA traded up $0.32 during midday trading on Friday, hitting $10.39. 714,000 shares of the company traded hands, compared to its average volume of 846,091. The stock has a 50-day moving average of $9.86 and a 200-day moving average of $10.07. Mueller Water Products has a one year low of $8.47 and a one year high of $12.17. The firm has a market cap of $1.63 billion, a P/E ratio of 19.60, a PEG ratio of 1.08 and a beta of 1.14. The company has a debt-to-equity ratio of 0.79, a current ratio of 3.15 and a quick ratio of 2.00.
Mueller Water Products (NYSE:MWA) last announced its quarterly earnings results on Monday, August 5th. The industrial products company reported $0.24 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.20 by $0.04. The firm had revenue of $274.30 million for the quarter, compared to analysts’ expectations of $274.96 million. Mueller Water Products had a return on equity of 17.10% and a net margin of 5.09%. The company’s revenue was up 9.6% on a year-over-year basis. During the same period in the prior year, the business posted $0.19 earnings per share. Sell-side analysts forecast that Mueller Water Products will post 0.62 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, August 20th. Shareholders of record on Friday, August 9th will be paid a $0.052 dividend. This represents a $0.21 annualized dividend and a yield of 2.00%. The ex-dividend date of this dividend is Thursday, August 8th. Mueller Water Products’s dividend payout ratio is currently 39.62%.
In related news, Director Arsdell Stephen C. Van acquired 10,000 shares of the company’s stock in a transaction dated Friday, August 9th. The stock was purchased at an average price of $10.10 per share, with a total value of $101,000.00. Following the completion of the purchase, the director now owns 32,000 shares in the company, valued at approximately $323,200. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Shirley C. Franklin sold 6,700 shares of the stock in a transaction that occurred on Wednesday, June 12th. The shares were sold at an average price of $9.55, for a total value of $63,985.00. Following the sale, the director now directly owns 52,892 shares of the company’s stock, valued at approximately $505,118.60. The disclosure for this sale can be found here. 1.70% of the stock is owned by corporate insiders.
Several large investors have recently added to or reduced their stakes in MWA. Impax Asset Management Group plc boosted its stake in shares of Mueller Water Products by 24.1% during the second quarter. Impax Asset Management Group plc now owns 11,220,838 shares of the industrial products company’s stock valued at $110,189,000 after purchasing an additional 2,177,793 shares during the period. Neumeier Poma Investment Counsel LLC purchased a new stake in shares of Mueller Water Products during the second quarter valued at approximately $12,883,000. Amundi Pioneer Asset Management Inc. boosted its stake in shares of Mueller Water Products by 52.0% during the second quarter. Amundi Pioneer Asset Management Inc. now owns 3,307,166 shares of the industrial products company’s stock valued at $199,604,000 after purchasing an additional 1,131,787 shares during the period. Nuveen Asset Management LLC purchased a new stake in shares of Mueller Water Products during the second quarter valued at approximately $8,881,000. Finally, Investment Counselors of Maryland LLC purchased a new stake in shares of Mueller Water Products during the second quarter valued at approximately $8,580,000. 86.22% of the stock is owned by hedge funds and other institutional investors.
Mueller Water Products Company Profile
Mueller Water Products, Inc manufactures and markets products and services for use in the transmission, distribution, and measurement of water in the United States, Canada, and internationally. It operates in two segments, Infrastructure and Technologies. The Infrastructure segment offers valves for water and gas systems, including butterfly, iron gate, tapping, check, knife, plug, automatic control, and ball valves; dry-barrel and wet-barrel fire hydrants; pipe repair products, such as clamps and couplings used to repair leaks under the Mueller and Jones brand names; and machines and tools for tapping, drilling, extracting, installing, and stopping-off.
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