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.
TRADEMARK VIOLATION WARNING: This article was first reported by WKRB News and is the sole property of of WKRB News. If you are reading this article on another publication, it was illegally copied and reposted in violation of international copyright and trademark legislation. The original version of this article can be read at https://www.wkrb13.com/markets/2065475/mueller-water-products-inc-mwa-to-issue-0-04-quarterly-dividend.html.
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.
This story was originally published by WKRB News (https://www.wkrb13.com) and is the sole property of WKRB News. If you are reading this article on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. You can view the original version of this story at https://www.wkrb13.com/markets/2065475/mueller-water-products-inc-mwa-to-issue-0-04-quarterly-dividend.html
Receive News & Ratings for Mueller Water Products Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Mueller Water Products Inc. and related companies with MarketBeat.com's FREE daily email newsletter.