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. “
Several other equities analysts have also recently issued reports on the company. Seaport Global Securities upgraded 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. Boenning Scattergood restated a hold rating on shares of Mueller Water Products in a report on Tuesday, May 7th. Goldman Sachs Group cut Mueller Water Products from a neutral rating to a sell rating and reduced their target price for the stock from $10.00 to $8.00 in a report on Wednesday, June 26th. Finally, ValuEngine cut Mueller Water Products from a hold rating to a sell rating in a report on Thursday, June 27th. Two analysts have rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the company’s stock. The company currently has an average rating of Hold and an average target price of $11.83.
Mueller Water Products (NYSE:MWA) last posted its quarterly earnings results on Monday, May 6th. The industrial products company reported $0.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.14 by ($0.02). The firm had revenue of $234.00 million during the quarter, compared to the consensus estimate of $252.06 million. Mueller Water Products had a net margin of 3.24% and a return on equity of 15.89%. Mueller Water Products’s revenue was up .4% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.12 EPS. Research analysts forecast that Mueller Water Products will post 0.59 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, August 20th. Shareholders of record on Friday, August 9th will be issued a dividend of $0.052 per share. This represents a $0.21 dividend on an annualized basis and a yield of 2.09%. The ex-dividend date of this dividend is Thursday, August 8th. Mueller Water Products’s dividend payout ratio (DPR) is currently 37.74%.
In other Mueller Water Products news, Director Shirley C. Franklin sold 6,700 shares of the firm’s stock in a transaction dated Wednesday, June 12th. The stock was sold at an average price of $9.55, for a total transaction of $63,985.00. Following the transaction, the director now owns 52,892 shares in the company, valued at $505,118.60. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director Bernard G. Rethore bought 10,000 shares of Mueller Water Products stock in a transaction on Thursday, May 9th. The shares were bought at an average price of $9.19 per share, for a total transaction of $91,900.00. The disclosure for this purchase can be found here. 1.70% of the stock is currently owned by company insiders.
A number of institutional investors and hedge funds have recently modified their holdings of MWA. Belpointe Asset Management LLC bought a new position in Mueller Water Products during the first quarter worth about $102,000. ELCO Management Co. LLC bought a new position in shares of Mueller Water Products during the 2nd quarter valued at about $146,000. Hendershot Investments Inc. bought a new position in shares of Mueller Water Products during the 1st quarter valued at about $161,000. Great West Life Assurance Co. Can lifted its holdings in shares of Mueller Water Products by 51.9% during the 4th quarter. Great West Life Assurance Co. Can now owns 20,104 shares of the industrial products company’s stock valued at $176,000 after purchasing an additional 6,866 shares in the last quarter. Finally, GYL Financial Synergies LLC bought a new position in shares of Mueller Water Products during the 1st quarter valued at about $177,000. Hedge funds and other institutional investors own 86.36% of the company’s stock.
About Mueller Water Products
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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