Mueller Water Products (MWA) Issues Earnings Results

Mueller Water Products (NYSE:MWA) announced its quarterly earnings data on Monday. The industrial products company reported $0.17 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.17, Briefing.com reports. The business had revenue of $254.30 million during the quarter, compared to analysts’ expectations of $239.79 million. Mueller Water Products had a return on equity of 15.67% and a net margin of 11.24%. The firm’s quarterly revenue was up 12.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.15 earnings per share.

Shares of MWA stock traded up $0.18 during mid-day trading on Wednesday, hitting $11.58. The company’s stock had a trading volume of 49,416 shares, compared to its average volume of 956,933. Mueller Water Products has a 52-week low of $9.59 and a 52-week high of $12.96. The company has a debt-to-equity ratio of 0.83, a current ratio of 5.13 and a quick ratio of 3.91. The stock has a market capitalization of $1.68 billion, a P/E ratio of 21.68, a P/E/G ratio of 1.10 and a beta of 1.10.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 20th. Shareholders of record on Friday, November 9th will be paid a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 1.73%. The ex-dividend date is Thursday, November 8th. Mueller Water Products’s payout ratio is 37.74%.

MWA has been the subject of a number of recent research reports. Zacks Investment Research upgraded Mueller Water Products from a “hold” rating to a “buy” rating and set a $14.00 price objective for the company in a research note on Wednesday, July 11th. Oppenheimer reiterated a “buy” rating and set a $14.00 price objective on shares of Mueller Water Products in a research note on Monday, August 6th. Nomura lowered their price objective on Mueller Water Products from $15.00 to $14.00 and set a “buy” rating for the company in a research note on Wednesday, September 12th. Finally, Berenberg Bank initiated coverage on Mueller Water Products in a research note on Wednesday, October 3rd. They set a “buy” rating and a $15.00 price objective for the company. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and three have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $13.36.

Several hedge funds have recently bought and sold shares of MWA. BLB&B Advisors LLC purchased a new position in shares of Mueller Water Products in the second quarter worth $2,980,000. Manning & Napier Group LLC raised its stake in shares of Mueller Water Products by 49.0% in the second quarter. Manning & Napier Group LLC now owns 174,570 shares of the industrial products company’s stock worth $2,044,000 after purchasing an additional 57,395 shares during the last quarter. Fortaleza Asset Management Inc. purchased a new position in shares of Mueller Water Products in the second quarter worth $128,000. Deprince Race & Zollo Inc. raised its stake in shares of Mueller Water Products by 5.3% in the second quarter. Deprince Race & Zollo Inc. now owns 2,290,158 shares of the industrial products company’s stock worth $26,841,000 after purchasing an additional 115,516 shares during the last quarter. Finally, Speece Thorson Capital Group Inc. raised its stake in shares of Mueller Water Products by 22.6% in the second quarter. Speece Thorson Capital Group Inc. now owns 717,004 shares of the industrial products company’s stock worth $8,403,000 after purchasing an additional 132,031 shares during the last quarter. Hedge funds and other institutional investors own 86.34% of the company’s stock.

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About Mueller Water Products

Mueller Water Products, Inc manufactures and markets products and services for use in the transmission, distribution, and measurement of water in the United States, Canada, and internationally. It operates through Infrastructure and Technologies segments. The Infrastructure segment offers valves for water and gas systems, including iron gate, butterfly, tapping, check, knife, plug, automatic control, and ball valves; dry-barrel and wet-barrel fire hydrants; pipe repair products, such as clamps and couplings used to repair leaks under the Mueller and Jones brand names; small valves, meter bars, and line stopper fittings for use in gas systems; and machines and tools for tapping, drilling, extracting, installing, and stopping-off.

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Earnings History for Mueller Water Products (NYSE:MWA)

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