Short Interest in Mueller Water Products, Inc. (NYSE:MWA) Expands By 22.9%

Mueller Water Products, Inc. (NYSE:MWA) saw a large growth in short interest in the month of November. As of November 29th, there was short interest totalling 2,200,000 shares, a growth of 22.9% from the November 14th total of 1,790,000 shares. Based on an average daily volume of 778,100 shares, the short-interest ratio is currently 2.8 days. Approximately 1.4% of the company’s stock are short sold.

A number of equities analysts recently commented on the company. Zacks Investment Research downgraded Mueller Water Products from a “hold” rating to a “sell” rating in a report on Friday, November 8th. Oppenheimer set a $13.00 price objective on Mueller Water Products and gave the stock a “buy” rating in a report on Thursday, September 26th. TheStreet raised Mueller Water Products from a “c+” rating to a “b-” rating in a research report on Friday, September 13th. Finally, ValuEngine raised Mueller Water Products from a “sell” rating to a “hold” rating in a research report on Friday, August 16th. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $11.50.

Mueller Water Products stock traded down $0.23 during trading hours on Friday, reaching $11.66. 1,563,410 shares of the company were exchanged, compared to its average volume of 699,433. The firm has a market cap of $1.88 billion, a price-to-earnings ratio of 19.23, a PEG ratio of 1.54 and a beta of 0.99. The company has a current ratio of 3.18, a quick ratio of 2.10 and a debt-to-equity ratio of 0.75. The stock has a 50-day moving average of $11.42 and a 200 day moving average of $10.53. Mueller Water Products has a 12 month low of $8.47 and a 12 month high of $12.26.

Mueller Water Products (NYSE:MWA) last announced its earnings results on Tuesday, November 5th. The industrial products company reported $0.19 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.01). The company had revenue of $266.90 million for the quarter, compared to the consensus estimate of $279.05 million. Mueller Water Products had a return on equity of 17.39% and a net margin of 6.59%. The firm’s revenue for the quarter was up 5.0% compared to the same quarter last year. During the same period in the previous year, the company earned $0.17 EPS. As a group, research analysts forecast that Mueller Water Products will post 0.65 EPS for the current year.

The business also recently announced a quarterly dividend, which was paid on Wednesday, November 20th. Shareholders of record on Friday, November 8th were given a dividend of $0.052 per share. The ex-dividend date of this dividend was Thursday, November 7th. This represents a $0.21 dividend on an annualized basis and a yield of 1.78%. Mueller Water Products’s payout ratio is currently 34.43%.

In related news, Director Lydia W. Thomas sold 15,094 shares of the stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $11.97, for a total value of $180,675.18. Following the transaction, the director now owns 102,020 shares in the company, valued at $1,221,179.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Marietta Edmunds Zakas sold 34,965 shares of the stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $10.93, for a total value of $382,167.45. Following the completion of the transaction, the chief financial officer now owns 278,864 shares in the company, valued at approximately $3,047,983.52. The disclosure for this sale can be found here. Insiders sold a total of 64,787 shares of company stock worth $726,560 in the last quarter. 1.70% of the stock is owned by corporate insiders.

A number of institutional investors have recently made changes to their positions in the business. Metropolitan Life Insurance Co NY boosted its position in Mueller Water Products by 15.9% during the third quarter. Metropolitan Life Insurance Co NY now owns 53,848 shares of the industrial products company’s stock worth $605,000 after purchasing an additional 7,400 shares during the period. Millennium Management LLC boosted its position in shares of Mueller Water Products by 33,427.4% in the third quarter. Millennium Management LLC now owns 2,997,016 shares of the industrial products company’s stock valued at $33,686,000 after acquiring an additional 2,988,077 shares during the period. Water Asset Management LLC boosted its position in shares of Mueller Water Products by 0.7% in the third quarter. Water Asset Management LLC now owns 152,000 shares of the industrial products company’s stock valued at $1,708,000 after acquiring an additional 1,000 shares during the period. Point72 Asset Management L.P. bought a new stake in shares of Mueller Water Products in the third quarter valued at approximately $103,000. Finally, California State Teachers Retirement System boosted its position in shares of Mueller Water Products by 1.2% in the third quarter. California State Teachers Retirement System now owns 244,609 shares of the industrial products company’s stock valued at $2,749,000 after acquiring an additional 2,921 shares during the period. 86.51% of the stock is owned by hedge funds and other institutional investors.

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.

Featured Story: Dividend Aristocrat Index

Receive News & Ratings for Mueller Water Products Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Mueller Water Products and related companies with MarketBeat.com's FREE daily email newsletter.