Mueller Water Products (NYSE:MWA) Releases Quarterly Earnings Results, Misses Estimates By $0.01 EPS

Mueller Water Products (NYSE:MWAGet Rating) issued its quarterly earnings data on Thursday. The industrial products company reported $0.19 earnings per share for the quarter, missing the consensus estimate of $0.20 by ($0.01), Briefing.com reports. The company had revenue of $333.20 million during the quarter, compared to the consensus estimate of $330.29 million. Mueller Water Products had a net margin of 7.25% and a return on equity of 13.70%. Mueller Water Products’s revenue for the quarter was up 7.3% compared to the same quarter last year. During the same period in the previous year, the company earned $0.18 earnings per share. Mueller Water Products updated its FY 2022 guidance to EPS.

Mueller Water Products Price Performance

Mueller Water Products stock traded down $1.29 during trading hours on Friday, reaching $11.83. 1,517,079 shares of the stock were exchanged, compared to its average volume of 627,167. The company has a market cap of $1.86 billion, a P/E ratio of 21.13, a price-to-earnings-growth ratio of 1.66 and a beta of 1.26. The company has a current ratio of 3.21, a quick ratio of 2.07 and a debt-to-equity ratio of 0.63. Mueller Water Products has a twelve month low of $10.88 and a twelve month high of $17.37. The stock has a 50 day moving average of $12.01 and a two-hundred day moving average of $12.33.

Mueller Water Products Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 22nd. Shareholders of record on Wednesday, August 10th will be paid a dividend of $0.058 per share. The ex-dividend date is Tuesday, August 9th. This represents a $0.23 dividend on an annualized basis and a yield of 1.96%. Mueller Water Products’s payout ratio is 41.07%.

Insiders Place Their Bets

In other Mueller Water Products news, SVP Todd P. Helms sold 3,875 shares of the stock in a transaction dated Friday, May 13th. The shares were sold at an average price of $11.63, for a total transaction of $45,066.25. Following the sale, the senior vice president now directly owns 23,590 shares in the company, valued at $274,351.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, Director Shirley C. Franklin sold 7,000 shares of the firm’s stock in a transaction that occurred on Wednesday, June 1st. The shares were sold at an average price of $11.94, for a total value of $83,580.00. Following the sale, the director now directly owns 56,776 shares in the company, valued at approximately $677,905.44. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Todd P. Helms sold 3,875 shares of the firm’s stock in a transaction that occurred on Friday, May 13th. The shares were sold at an average price of $11.63, for a total transaction of $45,066.25. Following the completion of the sale, the senior vice president now owns 23,590 shares in the company, valued at $274,351.70. The disclosure for this sale can be found here. Insiders have sold 27,875 shares of company stock worth $324,826 over the last ninety days. Corporate insiders own 1.50% of the company’s stock.

Institutional Investors Weigh In On Mueller Water Products

A number of hedge funds have recently made changes to their positions in MWA. Captrust Financial Advisors boosted its stake in shares of Mueller Water Products by 22.8% in the 1st quarter. Captrust Financial Advisors now owns 5,580 shares of the industrial products company’s stock valued at $72,000 after purchasing an additional 1,036 shares in the last quarter. PNC Financial Services Group Inc. raised its holdings in Mueller Water Products by 580.8% during the 1st quarter. PNC Financial Services Group Inc. now owns 14,909 shares of the industrial products company’s stock worth $192,000 after purchasing an additional 12,719 shares during the last quarter. Dynamic Technology Lab Private Ltd bought a new position in Mueller Water Products during the 1st quarter worth approximately $278,000. Bank of Montreal Can raised its holdings in Mueller Water Products by 65.6% during the 1st quarter. Bank of Montreal Can now owns 28,439 shares of the industrial products company’s stock worth $372,000 after purchasing an additional 11,270 shares during the last quarter. Finally, Ergoteles LLC bought a new position in Mueller Water Products during the 1st quarter worth approximately $464,000. 88.55% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have recently weighed in on MWA shares. Cowen dropped their price objective on shares of Mueller Water Products from $15.00 to $13.00 in a research report on Tuesday, June 28th. StockNews.com lowered shares of Mueller Water Products from a “buy” rating to a “hold” rating in a research report on Tuesday, July 19th. Cowen lowered their price target on shares of Mueller Water Products from $15.00 to $13.00 in a research report on Tuesday, June 28th. Finally, Northcoast Research began coverage on shares of Mueller Water Products in a research report on Friday, July 15th. They set a “neutral” rating on the stock. Five analysts have rated the stock with a hold rating, According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $14.75.

About Mueller Water Products

(Get Rating)

Mueller Water Products Inc manufactures and markets products and services used in the transmission, distribution, and measurement of water in North America and internationally. Its products and services are used by municipalities, and the residential and non-residential construction industries. It operates through two segments, Infrastructure and Technologies.

Recommended Stories

Earnings History for Mueller Water Products (NYSE:MWA)

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.