Mueller Water Products, Inc. (NYSE:MWA) Expected to Announce Quarterly Sales of $279.68 Million

Brokerages expect Mueller Water Products, Inc. (NYSE:MWA) to announce $279.68 million in sales for the current quarter, Zacks Investment Research reports. Six analysts have issued estimates for Mueller Water Products’ earnings, with estimates ranging from $277.15 million to $282.00 million. Mueller Water Products posted sales of $254.30 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 10%. The company is expected to issue its next earnings report on Monday, November 4th.

On average, analysts expect that Mueller Water Products will report full-year sales of $981.72 million for the current fiscal year, with estimates ranging from $978.25 million to $986.80 million. For the next fiscal year, analysts expect that the company will report sales of $1.04 billion, with estimates ranging from $1.02 billion to $1.05 billion. Zacks’ sales calculations are an average based on a survey of sell-side research analysts that follow Mueller Water Products.

Mueller Water Products (NYSE:MWA) last posted its quarterly earnings results on Monday, August 5th. The industrial products company reported $0.24 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.20 by $0.04. The company had revenue of $274.30 million for the quarter, compared to the consensus estimate of $274.96 million. Mueller Water Products had a net margin of 5.09% and a return on equity of 17.10%. Mueller Water Products’s revenue was up 9.6% on a year-over-year basis. During the same quarter last year, the firm posted $0.19 earnings per share.

A number of equities analysts have weighed in on the stock. Zacks Investment Research raised shares of Mueller Water Products from a “sell” rating to a “hold” rating in a research note on Friday, August 2nd. ValuEngine downgraded shares of Mueller Water Products from a “hold” rating to a “sell” rating in a research note on Thursday, June 27th. Seaport Global Securities set a $12.00 target price on shares of Mueller Water Products and gave the company a “buy” rating in a research note on Wednesday, August 7th. Boenning Scattergood raised shares of Mueller Water Products from a “neutral” rating to an “outperform” rating in a research note on Tuesday, August 6th. Finally, Goldman Sachs Group downgraded shares of Mueller Water Products from a “neutral” rating to a “sell” rating and cut their target price for the company from $10.00 to $8.00 in a research note on Wednesday, June 26th. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and five have assigned a buy rating to the company’s stock. Mueller Water Products currently has an average rating of “Hold” and an average target price of $12.00.

NYSE:MWA traded up $0.03 during trading hours on Friday, reaching $10.07. 1,042,700 shares of the company were exchanged, compared to its average volume of 925,996. The company has a current ratio of 3.15, a quick ratio of 2.00 and a debt-to-equity ratio of 0.79. The stock has a market cap of $1.58 billion, a price-to-earnings ratio of 19.05, a price-to-earnings-growth ratio of 1.08 and a beta of 1.14. Mueller Water Products has a 52-week low of $8.47 and a 52-week high of $12.17. The company’s 50 day moving average is $9.83.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, August 20th. Stockholders of record on Friday, August 9th will be paid a $0.052 dividend. This represents a $0.21 dividend on an annualized basis and a dividend yield of 2.07%. The ex-dividend date is Thursday, August 8th. Mueller Water Products’s dividend payout ratio is presently 39.62%.

In related news, Director Shirley C. Franklin sold 6,700 shares of the firm’s stock in a transaction on Wednesday, June 12th. The shares were sold at an average price of $9.55, for a total transaction of $63,985.00. Following the completion of the sale, the director now directly owns 52,892 shares of the company’s stock, valued at approximately $505,118.60. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Gregory Rogowski sold 85,839 shares of the firm’s stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $10.06, for a total transaction of $863,540.34. Following the sale, the executive vice president now directly owns 425,473 shares of the company’s stock, valued at $4,280,258.38. The disclosure for this sale can be found here. Company insiders own 1.70% of the company’s stock.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Water Asset Management LLC grew its holdings in Mueller Water Products by 43.8% during the 2nd quarter. Water Asset Management LLC now owns 151,000 shares of the industrial products company’s stock valued at $1,483,000 after purchasing an additional 46,000 shares in the last quarter. Nuveen Asset Management LLC acquired a new stake in Mueller Water Products during the 2nd quarter valued at $8,881,000. UBS Asset Management Americas Inc. grew its holdings in Mueller Water Products by 5.3% during the 2nd quarter. UBS Asset Management Americas Inc. now owns 168,616 shares of the industrial products company’s stock valued at $1,656,000 after purchasing an additional 8,534 shares in the last quarter. Point72 Hong Kong Ltd acquired a new stake in Mueller Water Products during the 2nd quarter valued at $83,000. Finally, Marshall Wace LLP acquired a new stake in Mueller Water Products during the 2nd quarter valued at $454,000. 86.22% of the stock is owned by institutional investors and hedge funds.

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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