Mueller Water Products (NYSE:MWA) Sets New 12-Month High After Strong Earnings

Mueller Water Products, Inc. (NYSE:MWA)’s share price reached a new 52-week high during trading on Tuesday following a better than expected earnings announcement. The company traded as high as $18.99 and last traded at $18.25, with a volume of 546509 shares. The stock had previously closed at $16.55.

The industrial products company reported $0.30 EPS for the quarter, beating the consensus estimate of $0.15 by $0.15. The company had revenue of $353.40 million for the quarter, compared to analyst estimates of $299.62 million. Mueller Water Products had a net margin of 6.35% and a return on equity of 13.86%. The firm’s revenue was up 6.2% on a year-over-year basis. During the same period in the prior year, the firm posted $0.14 earnings per share.

Mueller Water Products Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, May 20th. Investors of record on Friday, May 10th will be given a $0.064 dividend. The ex-dividend date is Thursday, May 9th. This represents a $0.26 dividend on an annualized basis and a yield of 1.35%. Mueller Water Products’s dividend payout ratio (DPR) is presently 39.06%.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on MWA shares. The Goldman Sachs Group lifted their target price on Mueller Water Products from $15.00 to $17.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 13th. StockNews.com lowered shares of Mueller Water Products from a “buy” rating to a “hold” rating in a research report on Wednesday, May 1st. Robert W. Baird upped their price target on shares of Mueller Water Products from $18.00 to $24.00 and gave the company a “neutral” rating in a research report on Wednesday. Oppenheimer raised shares of Mueller Water Products from a “market perform” rating to an “outperform” rating and set a $19.00 price objective on the stock in a research report on Thursday, April 18th. Finally, Royal Bank of Canada upped their target price on shares of Mueller Water Products from $17.00 to $20.00 and gave the company a “sector perform” rating in a report on Wednesday. Six equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat, Mueller Water Products currently has an average rating of “Hold” and a consensus target price of $20.00.

Insider Buying and Selling at Mueller Water Products

In related news, CAO Suzanne G. Smith sold 2,800 shares of the stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $15.09, for a total transaction of $42,252.00. Following the completion of the transaction, the chief accounting officer now directly owns 3,208 shares of the company’s stock, valued at $48,408.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Mueller Water Products news, CAO Suzanne G. Smith sold 2,800 shares of the business’s stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $15.09, for a total transaction of $42,252.00. Following the transaction, the chief accounting officer now owns 3,208 shares in the company, valued at approximately $48,408.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Paul Mcandrew sold 23,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $15.02, for a total value of $345,460.00. Following the completion of the sale, the chief operating officer now directly owns 6,701 shares of the company’s stock, valued at $100,649.02. The disclosure for this sale can be found here. In the last three months, insiders have sold 69,458 shares of company stock valued at $1,052,260. 1.40% of the stock is owned by company insiders.

Institutional Investors Weigh In On Mueller Water Products

Institutional investors have recently made changes to their positions in the stock. Raymond James & Associates boosted its holdings in Mueller Water Products by 2.5% during the third quarter. Raymond James & Associates now owns 929,552 shares of the industrial products company’s stock worth $11,787,000 after buying an additional 22,724 shares in the last quarter. Stratos Wealth Partners LTD. acquired a new stake in shares of Mueller Water Products in the 3rd quarter worth approximately $299,000. Bank of New York Mellon Corp increased its stake in Mueller Water Products by 1.8% in the 3rd quarter. Bank of New York Mellon Corp now owns 1,101,181 shares of the industrial products company’s stock valued at $13,963,000 after purchasing an additional 19,886 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its stake in Mueller Water Products by 9.1% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,287,282 shares of the industrial products company’s stock valued at $16,323,000 after purchasing an additional 107,514 shares in the last quarter. Finally, Mcdonald Partners LLC boosted its position in Mueller Water Products by 3.6% during the third quarter. Mcdonald Partners LLC now owns 102,790 shares of the industrial products company’s stock worth $1,303,000 after purchasing an additional 3,525 shares in the last quarter. 91.68% of the stock is currently owned by hedge funds and other institutional investors.

Mueller Water Products Price Performance

The company has a market cap of $2.95 billion, a price-to-earnings ratio of 29.56, a price-to-earnings-growth ratio of 1.97 and a beta of 1.33. The company has a fifty day simple moving average of $15.82 and a two-hundred day simple moving average of $14.57. The company has a quick ratio of 1.89, a current ratio of 3.29 and a debt-to-equity ratio of 0.61.

Mueller Water Products Company Profile

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.