Mueller Water Products (NYSE:MWA) Upgraded by Royal Bank Of Canada to Strong Sell Rating

Royal Bank Of Canada upgraded shares of Mueller Water Products (NYSE:MWA) to a strong sell rating in a research note released on Wednesday,Zacks reports.

Several other brokerages have also recently issued reports on MWA. Wall Street Zen raised Mueller Water Products from a “hold” rating to a “buy” rating in a report on Monday, August 10th. Barclays began coverage on Mueller Water Products in a research note on Tuesday, June 30th. They set an “underweight” rating and a $25.00 price target for the company. Robert W. Baird set a $35.00 price objective on Mueller Water Products in a research note on Friday, August 7th. Finally, Weiss Ratings cut Mueller Water Products from a “buy (b)” rating to a “buy (b-)” rating in a report on Wednesday. Two research analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $28.40.

Mueller Water Products Trading Down 3.8%

Mueller Water Products stock opened at $21.88 on Wednesday. Mueller Water Products has a 1 year low of $21.77 and a 1 year high of $31.00. The firm’s 50 day moving average price is $24.85 and its 200-day moving average price is $26.18. The company has a debt-to-equity ratio of 0.40, a current ratio of 4.64 and a quick ratio of 3.08. The stock has a market cap of $3.42 billion, a P/E ratio of 15.51, a PEG ratio of 0.96 and a beta of 1.01.

Mueller Water Products (NYSE:MWA) last issued its earnings results on Wednesday, August 5th. The industrial products company reported $0.50 earnings per share for the quarter, topping analysts’ consensus estimates of $0.39 by $0.11. The firm had revenue of $395.90 million during the quarter, compared to analyst estimates of $391.49 million. Mueller Water Products had a net margin of 15.02% and a return on equity of 23.55%. Mueller Water Products’s revenue for the quarter was up 4.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.34 earnings per share. On average, equities analysts predict that Mueller Water Products will post 1.58 earnings per share for the current fiscal year.

Mueller Water Products Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 20th. Shareholders of record on Monday, August 10th were given a dividend of $0.07 per share. The ex-dividend date was Monday, August 10th. This represents a $0.28 dividend on an annualized basis and a yield of 1.3%. Mueller Water Products’s dividend payout ratio is 19.86%.

Insider Buying and Selling at Mueller Water Products

In other news, CEO Paul McAndrew sold 40,000 shares of Mueller Water Products stock in a transaction that occurred on Monday, August 10th. The stock was sold at an average price of $26.39, for a total value of $1,055,600.00. Following the completion of the transaction, the chief executive officer owned 42,556 shares in the company, valued at approximately $1,123,052.84. The trade was a 48.45% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Christine Ortiz sold 12,048 shares of the business’s stock in a transaction that occurred on Monday, August 31st. The shares were sold at an average price of $24.23, for a total value of $291,923.04. Following the transaction, the director directly owned 30,824 shares in the company, valued at approximately $746,865.52. This represents a 28.10% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 52,598 shares of company stock worth $1,360,685 over the last ninety days. Company insiders own 1.10% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Public Employees Retirement System of Ohio bought a new stake in shares of Mueller Water Products in the 2nd quarter worth about $43,000. Sterling Capital Management LLC grew its holdings in Mueller Water Products by 89.5% during the 1st quarter. Sterling Capital Management LLC now owns 1,935 shares of the industrial products company’s stock valued at $53,000 after purchasing an additional 914 shares during the last quarter. Nykredit A S bought a new position in Mueller Water Products during the 2nd quarter valued at about $60,000. State of Wyoming purchased a new stake in Mueller Water Products in the 1st quarter worth about $121,000. Finally, GAMMA Investing LLC raised its position in Mueller Water Products by 10.4% in the 2nd quarter. GAMMA Investing LLC now owns 4,487 shares of the industrial products company’s stock worth $116,000 after purchasing an additional 421 shares during the period. 91.68% of the stock is owned by hedge funds and other institutional investors.

Mueller Water Products Company Profile

Mueller Water Products, Inc designs and manufactures products used to support the operation, maintenance, and monitoring of water distribution and wastewater infrastructure. Its offerings include gate, butterfly, and check valves; fire hydrants; pipe fittings; and related products used to control and manage the flow of water through municipal and other utility systems.

The company also provides technologies and services intended to help utilities monitor their networks, identify leaks, improve asset management, and enhance operational efficiency.