Zacks Investment Research Downgrades Mueller Water Products (NYSE:MWA) to Sell

Zacks Investment Research downgraded shares of Mueller Water Products (NYSE:MWA) from a hold rating to a sell rating in a research report sent to investors on Wednesday, Zacks.com reports.

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 equities analysts have also commented on MWA. Oppenheimer set a $13.00 price target on shares of Alpine Immune Sciences and gave the company a buy rating in a research report on Tuesday, March 19th. Goldman Sachs Group began coverage on shares of Tricida in a research report on Wednesday, June 26th. They issued a buy rating and a $48.00 price target on the stock. Seaport Global Securities began coverage on shares of United Technologies in a research report on Friday, May 10th. They issued a neutral rating and a $136.86 price target on the stock. Boenning Scattergood restated a hold rating on shares of Mueller Water Products in a research report on Tuesday, May 7th. Finally, ValuEngine upgraded shares of Zogenix from a buy rating to a strong-buy rating in a research report on Thursday, June 27th. Three research analysts have rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the company. The stock has an average rating of Hold and a consensus price target of $11.83.

NYSE:MWA opened at $9.60 on Wednesday. The firm has a market capitalization of $1.52 billion, a price-to-earnings ratio of 17.45, a PEG ratio of 1.29 and a beta of 1.17. Mueller Water Products has a 12 month low of $8.47 and a 12 month high of $12.59. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.89 and a current ratio of 3.07. The company has a 50-day moving average price of $9.63.

Mueller Water Products (NYSE:MWA) last released its quarterly earnings results on Monday, May 6th. The industrial products company reported $0.12 EPS for the quarter, missing the Zacks’ consensus estimate of $0.14 by ($0.02). The firm had revenue of $234.00 million during the quarter, compared to analyst estimates 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 quarterly revenue was up .4% on a year-over-year basis. During the same quarter last year, the firm earned $0.12 earnings per share. Analysts expect that Mueller Water Products will post 0.6 earnings per share for the current fiscal year.

In related news, Director Bernard G. Rethore bought 10,000 shares of Mueller Water Products stock in a transaction dated Thursday, May 9th. The shares were bought at an average cost of $9.19 per share, for a total transaction of $91,900.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Shirley C. Franklin sold 6,700 shares of the company’s stock in a transaction that occurred on 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 disclosure for this sale can be found here. 1.70% of the stock is owned by insiders.

Hedge funds have recently made changes to their positions in the company. Blueshift Asset Management LLC acquired a new position in shares of Mueller Water Products during the fourth quarter worth approximately $124,000. Millennium Management LLC lifted its position in shares of Mueller Water Products by 25.2% during the fourth quarter. Millennium Management LLC now owns 1,201,647 shares of the industrial products company’s stock worth $10,935,000 after purchasing an additional 241,713 shares in the last quarter. Two Sigma Advisers LP lifted its position in shares of Mueller Water Products by 71.2% during the fourth quarter. Two Sigma Advisers LP now owns 440,917 shares of the industrial products company’s stock worth $4,012,000 after purchasing an additional 183,300 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Mueller Water Products by 0.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 6,309,406 shares of the industrial products company’s stock worth $57,416,000 after purchasing an additional 44,193 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Mueller Water Products by 19.0% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 36,632 shares of the industrial products company’s stock worth $333,000 after purchasing an additional 5,850 shares in the last quarter. Institutional investors own 86.50% 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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