According to Zacks, “Mueller Water Products, Inc. manufactures and markets products and services that are used in the transmission and distribution of safe, clean drinking water and in water treatment facilities. Their broad product portfolio includes engineered valves, fire hydrants, pipe fittings, water meters and ductile iron pipe, which are used by municipalities, as well as the residential and non-residential construction industries. “
A number of other research firms have also recently commented on MWA. Seaport Global Securities raised shares of Mueller Water Products from a neutral rating to a buy rating and set a $11.00 price target on the stock in a report on Friday, May 10th. Goldman Sachs Group cut shares of Mueller Water Products from a neutral rating to a sell rating and lowered their price target for the stock from $10.00 to $8.00 in a report on Wednesday, June 26th. ValuEngine cut shares of Mueller Water Products from a hold rating to a sell rating in a report on Thursday, June 27th. Finally, Boenning Scattergood reaffirmed a hold rating on shares of Mueller Water Products in a report on Tuesday, May 7th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the company. The stock has an average rating of Hold and an average price target of $11.83.
Mueller Water Products (NYSE:MWA) last posted its earnings results on Monday, August 5th. The industrial products company reported $0.24 EPS for the quarter, topping 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 net margin of 3.24% and a return on equity of 15.89%. The company’s quarterly revenue was up 9.6% compared to the same quarter last year. During the same quarter last year, the firm earned $0.19 EPS. As a group, sell-side analysts expect that Mueller Water Products will post 0.59 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, August 20th. Investors of record on Friday, August 9th will be issued a $0.052 dividend. The ex-dividend date is Thursday, August 8th. This represents a $0.21 dividend on an annualized basis and a dividend yield of 2.14%. Mueller Water Products’s dividend payout ratio (DPR) is presently 37.74%.
In related news, Director Shirley C. Franklin sold 6,700 shares of Mueller Water Products 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 completion of the transaction, the director now directly owns 52,892 shares in the company, valued at approximately $505,118.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Bernard G. Rethore acquired 10,000 shares of Mueller Water Products stock in a transaction that occurred on Thursday, May 9th. The stock was acquired at an average price of $9.19 per share, with a total value of $91,900.00. The disclosure for this purchase can be found here. 1.70% of the stock is currently owned by insiders.
A number of institutional investors have recently added to or reduced their stakes in the stock. Gamco Investors INC. ET AL grew its position in shares of Mueller Water Products by 5.9% during the 1st quarter. Gamco Investors INC. ET AL now owns 6,015,608 shares of the industrial products company’s stock valued at $60,397,000 after purchasing an additional 337,316 shares in the last quarter. Norges Bank bought a new stake in shares of Mueller Water Products during the 4th quarter worth $50,182,000. Amundi Pioneer Asset Management Inc. lifted its holdings in shares of Mueller Water Products by 69.1% during the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 2,175,379 shares of the industrial products company’s stock worth $21,840,000 after acquiring an additional 888,715 shares during the last quarter. Northern Trust Corp lifted its holdings in shares of Mueller Water Products by 0.4% during the 4th quarter. Northern Trust Corp now owns 2,033,419 shares of the industrial products company’s stock worth $18,504,000 after acquiring an additional 7,867 shares during the last quarter. Finally, Speece Thorson Capital Group Inc. lifted its holdings in shares of Mueller Water Products by 62.2% during the 2nd quarter. Speece Thorson Capital Group Inc. now owns 1,755,554 shares of the industrial products company’s stock worth $17,240,000 after acquiring an additional 673,350 shares during the last quarter. Institutional investors and hedge funds own 86.24% of the company’s stock.
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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