Mueller Water Products, Inc. (NYSE:MWA) declared a quarterly dividend on Thursday, April 20th. Shareholders of record on Wednesday, May 10th will be given a dividend of 0.04 per share by the industrial products company on Monday, May 22nd. This represents a $0.16 dividend on an annualized basis and a yield of 1.32%. The ex-dividend date of this dividend is Monday, May 8th.
Mueller Water Products has raised its dividend payment by an average of 16.3% per year over the last three years and has raised its dividend annually for the last 2 consecutive years. Mueller Water Products has a dividend payout ratio of 32.7% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Mueller Water Products to earn $0.59 per share next year, which means the company should continue to be able to cover its $0.16 annual dividend with an expected future payout ratio of 27.1%.
Mueller Water Products (NYSE:MWA) traded up 2.27% during trading on Thursday, reaching $12.14. 1,988,858 shares of the company’s stock were exchanged. The stock has a market cap of $1.97 billion, a PE ratio of 30.81 and a beta of 1.35. The firm has a 50 day moving average of $11.96 and a 200-day moving average of $12.67. Mueller Water Products has a 12 month low of $10.18 and a 12 month high of $14.20.
Mueller Water Products (NYSE:MWA) last posted its earnings results on Thursday, February 2nd. The industrial products company reported $0.04 earnings per share for the quarter, missing analysts’ consensus estimates of $0.05 by $0.01. Mueller Water Products had a net margin of 6.06% and a return on equity of 19.52%. The firm earned $167.20 million during the quarter, compared to the consensus estimate of $181.36 million. During the same period in the prior year, the company posted $0.04 EPS. The firm’s revenue was up 2.5% compared to the same quarter last year. On average, equities research analysts anticipate that Mueller Water Products will post $0.48 earnings per share for the current fiscal year.
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A number of research analysts have weighed in on the company. Nomura assumed coverage on Mueller Water Products in a report on Wednesday, April 12th. They issued a “buy” rating and a $15.00 target price on the stock. Royal Bank of Canada reissued a “buy” rating and issued a $15.00 target price on shares of Mueller Water Products in a report on Tuesday, March 14th. Zacks Investment Research raised Mueller Water Products from a “sell” rating to a “hold” rating in a report on Tuesday, March 14th. Goldman Sachs Group Inc assumed coverage on Mueller Water Products in a report on Wednesday, March 8th. They issued a “buy” rating and a $15.00 target price on the stock. Finally, CIBC reissued an “outperform” rating and issued a $15.00 target price on shares of Mueller Water Products in a report on Friday, March 24th. Three investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Mueller Water Products presently has a consensus rating of “Buy” and a consensus price target of $14.06.
In other news, CFO Evan Hart sold 150,000 shares of the firm’s stock in a transaction dated Monday, February 6th. The stock was sold at an average price of $13.16, for a total value of $1,974,000.00. Following the transaction, the chief financial officer now owns 270,065 shares of the company’s stock, valued at $3,554,055.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Jerry W. Kolb sold 34,341 shares of the firm’s stock in a transaction dated Monday, February 6th. The stock was sold at an average price of $12.98, for a total value of $445,746.18. Following the completion of the transaction, the director now directly owns 23,855 shares in the company, valued at approximately $309,637.90. The disclosure for this sale can be found here. 4.30% of the stock is owned by company insiders.
About Mueller Water Products
Mueller Water Products, Inc is a manufacturer and marketer of products and services used in the transmission, distribution and measurement of water in North America. The Company operates through three segments: Mueller Co, Anvil and Mueller Technologies. The Mueller Co segment manufactures valves for water and gas systems, and dry-barrel and wet-barrel fire hydrants.
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