Mueller Water Products, Inc. (MWA) Stock Rating Upgraded by BidaskClub

Mueller Water Products, Inc. (NYSE:MWA) was upgraded by BidaskClub from a “sell” rating to a “hold” rating in a report issued on Saturday.

Several other analysts also recently weighed in on MWA. Oppenheimer Holdings, Inc. reiterated a “buy” rating on shares of Mueller Water Products in a report on Tuesday, May 9th. Nomura assumed coverage on shares of Mueller Water Products in a report on Wednesday, April 12th. They issued a “buy” rating and a $15.00 target price for the company. Zacks Investment Research upgraded shares of Mueller Water Products from a “hold” rating to a “buy” rating and set a $13.00 target price for the company in a report on Tuesday, April 11th. CIBC reiterated a “buy” rating on shares of Mueller Water Products in a report on Wednesday, May 10th. Finally, Goldman Sachs Group, Inc. (The) assumed coverage on shares of Mueller Water Products in a report on Wednesday, March 8th. They issued a “buy” rating and a $15.00 target price for the company. Four investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Mueller Water Products currently has an average rating of “Buy” and a consensus target price of $13.71.

Analyst Recommendations for Mueller Water Products (NYSE:MWA)

Mueller Water Products (NYSE:MWA) traded up 0.44% on Friday, hitting $11.47. The stock had a trading volume of 3,081,720 shares. The firm’s 50 day moving average price is $11.23 and its 200-day moving average price is $12.37. Mueller Water Products has a 12 month low of $10.45 and a 12 month high of $14.20. The stock has a market cap of $1.83 billion, a PE ratio of 15.48 and a beta of 1.34.

Mueller Water Products (NYSE:MWA) last released its quarterly earnings results on Thursday, April 27th. The industrial products company reported $0.09 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.09. The firm had revenue of $199.70 million for the quarter, compared to analyst estimates of $206 million. Mueller Water Products had a net margin of 2.35% and a return on equity of 4.34%. The business’s revenue for the quarter was up 1.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.10 EPS. On average, analysts forecast that Mueller Water Products will post $0.45 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Monday, May 22nd. Investors of record on Wednesday, May 10th were paid a dividend of $0.04 per share. The ex-dividend date of this dividend was Monday, May 8th. This represents a $0.16 dividend on an annualized basis and a dividend yield of 1.39%. Mueller Water Products’s payout ratio is currently 21.62%.

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In related news, Director Shirley C. Franklin sold 9,156 shares of the business’s stock in a transaction on Wednesday, June 14th. The shares were sold at an average price of $11.40, for a total transaction of $104,378.40. Following the completion of the transaction, the director now owns 39,157 shares in the company, valued at $446,389.80. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Bernard G. Rethore sold 56,400 shares of the business’s stock in a transaction on Tuesday, May 30th. The stock was sold at an average price of $11.23, for a total transaction of $633,372.00. Following the transaction, the director now owns 27,303 shares of the company’s stock, valued at approximately $306,612.69. The disclosure for this sale can be found here. Insiders own 4.30% of the company’s stock.

Several institutional investors have recently modified their holdings of the company. Wexford Capital LP purchased a new position in shares of Mueller Water Products during the fourth quarter worth approximately $417,000. First Republic Investment Management Inc. boosted its stake in shares of Mueller Water Products by 9.9% in the fourth quarter. First Republic Investment Management Inc. now owns 29,092 shares of the industrial products company’s stock worth $388,000 after buying an additional 2,630 shares during the period. Franklin Resources Inc. boosted its stake in shares of Mueller Water Products by 41.0% in the fourth quarter. Franklin Resources Inc. now owns 6,044,820 shares of the industrial products company’s stock worth $80,457,000 after buying an additional 1,759,100 shares during the period. GSA Capital Partners LLP boosted its stake in shares of Mueller Water Products by 170.4% in the fourth quarter. GSA Capital Partners LLP now owns 35,707 shares of the industrial products company’s stock worth $475,000 after buying an additional 22,504 shares during the period. Finally, A.R.T. Advisors LLC boosted its stake in shares of Mueller Water Products by 856.0% in the fourth quarter. A.R.T. Advisors LLC now owns 104,200 shares of the industrial products company’s stock worth $1,386,000 after buying an additional 93,300 shares during the period. Hedge funds and other institutional investors own 87.35% of the company’s stock.

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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