Mueller Water Products (NYSE:MWA) Stock Has Average Price Target of $27.00

Shares of Mueller Water Products (NYSE:MWA) have received an average recommendation of “Hold” from the five ratings firms that are currently covering the stock, MarketBeat reports. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and two have assigned a buy rating to the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $27.00.

MWA has been the topic of several research analyst reports. Wall Street Zen downgraded Mueller Water Products from a “buy” rating to a “hold” rating in a research report on Saturday, October 10th. Barclays began coverage on Mueller Water Products in a research note on Tuesday, June 30th. They issued an “underweight” rating and a $25.00 target price on the stock. Oppenheimer decreased their target price on Mueller Water Products from $32.00 to $30.00 and set an “outperform” rating for the company in a research report on Wednesday, October 14th. Robert W. Baird set a $35.00 target price on shares of Mueller Water Products in a research note on Friday, August 7th. Finally, Royal Bank Of Canada lowered shares of Mueller Water Products from a “sector perform” rating to an “underperform” rating and lowered their target price for the company from $30.00 to $21.00 in a research note on Wednesday, September 16th.

Insider Buying and Selling at Mueller Water Products

In related news, Director Brian C. Healy bought 1,376 shares of Mueller Water Products stock in a transaction dated Wednesday, October 7th. The shares were acquired at an average cost of $21.75 per share, with a total value of $29,928.00. Following the completion of the transaction, the director owned 26,322 shares in the company, valued at $572,503.50. The trade was a 5.52% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Christine Ortiz sold 12,048 shares of Mueller Water Products stock in a transaction that occurred on Monday, August 31st. The shares were sold at an average price of $24.23, for a total transaction of $291,923.04. Following the sale, the director directly owned 30,824 shares of the company’s stock, valued at $746,865.52. This represents a 28.10% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 52,598 shares of company stock valued at $1,360,685 in the last three months. Company insiders own 1.10% of the company’s stock.

Institutional Trading of Mueller Water Products

Large investors have recently modified their holdings of the company. Smith Group Asset Management LLC increased its stake in shares of Mueller Water Products by 1.6% during the third quarter. Smith Group Asset Management LLC now owns 33,586 shares of the industrial products company’s stock valued at $713,000 after buying an additional 536 shares during the period. Signaturefd LLC raised its holdings in shares of Mueller Water Products by 14.9% in the third quarter. Signaturefd LLC now owns 9,095 shares of the industrial products company’s stock valued at $193,000 after acquiring an additional 1,180 shares in the last quarter. RWC Asset Management LLP lifted its stake in Mueller Water Products by 3.5% in the third quarter. RWC Asset Management LLP now owns 23,291 shares of the industrial products company’s stock worth $495,000 after acquiring an additional 778 shares during the period. Sterling Capital Management LLC lifted its stake in Mueller Water Products by 255.8% in the third quarter. Sterling Capital Management LLC now owns 7,169 shares of the industrial products company’s stock worth $152,000 after acquiring an additional 5,154 shares during the period. Finally, Vest Financial LLC lifted its stake in Mueller Water Products by 42.4% in the third quarter. Vest Financial LLC now owns 299,367 shares of the industrial products company’s stock worth $6,359,000 after acquiring an additional 89,168 shares during the period. Hedge funds and other institutional investors own 91.68% of the company’s stock.

Mueller Water Products Stock Down 0.2%

MWA opened at $22.43 on Wednesday. The stock’s 50 day moving average price is $22.80 and its 200-day moving average price is $25.89. Mueller Water Products has a one year low of $20.90 and a one year high of $31.00.

Mueller Water Products (NYSE:MWA) last issued its quarterly earnings results on Wednesday, August 5th. The industrial products company reported $0.50 earnings per share for the quarter, topping the consensus estimate of $0.39 by $0.11. The business had revenue of $395.90 million during the quarter, compared to analysts’ expectations of $391.49 million. During the same quarter in the previous year, the company posted $0.34 earnings per share. The company’s quarterly revenue was up 4.1% compared to the same quarter last year. Equities analysts forecast that Mueller Water Products will post 1.52 earnings per share for the current year.

Mueller Water Products announced that its Board of Directors has authorized a share repurchase plan on Thursday, October 22nd that authorizes the company to repurchase $300 million in outstanding shares. This buyback authorization authorizes the industrial products company to purchase up to 8.8% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s leadership believes its shares are undervalued.

Mueller Water Products Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 19th. Investors of record on Monday, November 9th will be issued a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date is Monday, November 9th. This is a positive change from Mueller Water Products’s previous quarterly dividend of $0.07.

About Mueller Water Products

Mueller Water Products, Inc (NYSE:MWA) manufactures products and provides services used in the treatment, transmission, distribution, and measurement of water. Its customers include municipalities, water utilities, distributors, contractors, and industrial organizations.

The company’s product portfolio includes water valves, fire hydrants, pipe fittings, repair and connection products, and related infrastructure equipment. Through its Echologics business, Mueller also provides acoustic leak-detection technologies and other solutions designed to help utilities monitor and manage water distribution systems.

Mueller Water Products traces its history to Mueller Co, which was founded in 1857.