Mueller Water Products, Inc. (NYSE:MWA) Receives $21.60 Average PT from Brokerages

Mueller Water Products, Inc. (NYSE:MWA) has been given an average rating of “Hold” by the six research firms that are covering the company, MarketBeat Ratings reports. Five equities research analysts have rated the stock with a hold recommendation and one has given a buy recommendation to the company. The average 1 year price target among analysts that have covered the stock in the last year is $21.60.

MWA has been the topic of several recent analyst reports. Royal Bank of Canada boosted their target price on Mueller Water Products from $20.00 to $23.00 and gave the stock a “sector perform” rating in a report on Wednesday, August 7th. StockNews.com raised Mueller Water Products from a “buy” rating to a “strong-buy” rating in a report on Monday. Oppenheimer upped their price target on shares of Mueller Water Products from $22.00 to $24.00 and gave the company an “outperform” rating in a report on Wednesday, August 7th. Finally, TD Cowen cut shares of Mueller Water Products from a “buy” rating to a “hold” rating and lifted their price objective for the stock from $19.00 to $20.00 in a research note on Friday, August 9th.

Mueller Water Products Trading Up 0.3 %

Shares of MWA stock opened at $19.42 on Tuesday. The firm has a market capitalization of $3.03 billion, a PE ratio of 30.34, a price-to-earnings-growth ratio of 1.39 and a beta of 1.34. The company has a debt-to-equity ratio of 0.57, a quick ratio of 2.31 and a current ratio of 3.70. Mueller Water Products has a 1 year low of $12.13 and a 1 year high of $21.51. The stock has a fifty day moving average of $19.94 and a two-hundred day moving average of $17.89.

Mueller Water Products (NYSE:MWA) last announced its earnings results on Monday, August 5th. The industrial products company reported $0.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.22 by $0.10. The firm had revenue of $356.70 million during the quarter, compared to analyst estimates of $329.67 million. Mueller Water Products had a net margin of 9.71% and a return on equity of 19.46%. Mueller Water Products’s revenue was up 9.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.18 EPS. As a group, research analysts expect that Mueller Water Products will post 0.93 EPS for the current year.

Mueller Water Products Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 20th. Shareholders of record on Friday, August 9th were issued a dividend of $0.064 per share. The ex-dividend date was Friday, August 9th. This represents a $0.26 annualized dividend and a yield of 1.32%. Mueller Water Products’s payout ratio is presently 40.63%.

Insiders Place Their Bets

In other news, insider J Scott Hall sold 102,025 shares of the business’s stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $19.54, for a total transaction of $1,993,568.50. Following the sale, the insider now owns 544,029 shares in the company, valued at $10,630,326.66. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Mueller Water Products news, Director Christine Ortiz sold 8,800 shares of Mueller Water Products stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $19.94, for a total transaction of $175,472.00. Following the transaction, the director now owns 34,699 shares of the company’s stock, valued at approximately $691,898.06. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider J Scott Hall sold 102,025 shares of the stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $19.54, for a total transaction of $1,993,568.50. Following the completion of the sale, the insider now directly owns 544,029 shares of the company’s stock, valued at $10,630,326.66. The disclosure for this sale can be found here. Insiders sold a total of 256,869 shares of company stock worth $5,141,842 over the last ninety days. 1.40% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Mueller Water Products

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in MWA. Pingora Partners LLC purchased a new position in shares of Mueller Water Products during the 4th quarter valued at $29,000. Daiwa Securities Group Inc. purchased a new position in Mueller Water Products in the first quarter valued at about $46,000. Allspring Global Investments Holdings LLC acquired a new position in Mueller Water Products in the 2nd quarter worth about $72,000. National Bank of Canada FI raised its stake in shares of Mueller Water Products by 44.2% during the 2nd quarter. National Bank of Canada FI now owns 4,757 shares of the industrial products company’s stock worth $83,000 after purchasing an additional 1,457 shares in the last quarter. Finally, Register Financial Advisors LLC acquired a new stake in shares of Mueller Water Products during the 1st quarter valued at about $80,000. Hedge funds and other institutional investors own 91.68% of the company’s stock.

About Mueller Water Products

Mueller Water Products, Inc manufactures and markets products and services for the transmission, distribution, and measurement of water used by municipalities, and the residential and non-residential construction industries in the United States, Israel, and internationally. It operates in two segments, Water Flow Solutions and Water Management Solutions.