Mueller Water Products (NYSE:MWA) Announces Quarterly Earnings Results

Mueller Water Products (NYSE:MWA) released its quarterly earnings results on Monday. The industrial products company reported $0.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.15 by $0.15, Briefing.com reports. The business had revenue of $353.40 million during the quarter, compared to the consensus estimate of $299.62 million. Mueller Water Products had a return on equity of 13.86% and a net margin of 6.35%. The business’s revenue was up 6.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.14 EPS. Mueller Water Products updated its FY 2024 guidance to EPS.

Mueller Water Products Stock Performance

Mueller Water Products stock opened at $18.01 on Wednesday. The firm has a market capitalization of $2.81 billion, a P/E ratio of 36.02, a PEG ratio of 1.97 and a beta of 1.33. The stock has a fifty day moving average price of $15.75 and a 200 day moving average price of $14.54. Mueller Water Products has a 52 week low of $12.11 and a 52 week high of $18.99. The company has a current ratio of 3.29, a quick ratio of 1.89 and a debt-to-equity ratio of 0.61.

Mueller Water Products Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, May 20th. Investors of record on Friday, May 10th will be paid a $0.064 dividend. The ex-dividend date of this dividend is Thursday, May 9th. This represents a $0.26 annualized dividend and a yield of 1.42%. Mueller Water Products’s payout ratio is currently 52.00%.

Insider Activity at Mueller Water Products

In related news, SVP Kenji Takeuchi sold 6,658 shares of the company’s stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $15.62, for a total value of $103,997.96. Following the completion of the transaction, the senior vice president now directly owns 34,196 shares in the company, valued at $534,141.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, COO Paul Mcandrew sold 23,000 shares of the company’s stock in a transaction dated Tuesday, February 13th. The stock was 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 owns 6,701 shares of the company’s stock, valued at $100,649.02. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Kenji Takeuchi sold 6,658 shares of the business’s stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $15.62, for a total value of $103,997.96. Following the transaction, the senior vice president now directly owns 34,196 shares in the company, valued at $534,141.52. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 69,458 shares of company stock worth $1,052,260. 1.40% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several analysts have issued reports on MWA shares. The Goldman Sachs Group upped their price target on shares of Mueller Water Products from $15.00 to $17.00 and gave the company a “neutral” rating in a report on Tuesday, February 13th. Royal Bank of Canada increased their target price on Mueller Water Products from $14.00 to $15.00 and gave the company a “sector perform” rating in a report on Monday, February 12th. StockNews.com cut Mueller Water Products from a “buy” rating to a “hold” rating in a report on Wednesday, May 1st. Finally, Oppenheimer raised Mueller Water Products from a “market perform” rating to an “outperform” rating and set a $19.00 price target for the company in a report on Thursday, April 18th. Five investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat, Mueller Water Products presently has a consensus rating of “Hold” and a consensus price target of $17.00.

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.