Mueller Water Products (NYSE:MWA) Shares Gap Up on Strong Earnings

Mueller Water Products, Inc. (NYSE:MWAGet Free Report)’s stock price gapped up before the market opened on Friday following a better than expected earnings announcement. The stock had previously closed at $13.89, but opened at $14.82. Mueller Water Products shares last traded at $15.01, with a volume of 339,791 shares traded.

The industrial products company reported $0.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.09 by $0.04. Mueller Water Products had a return on equity of 13.97% and a net margin of 6.35%. The company had revenue of $256.40 million for the quarter, compared to analyst estimates of $250.64 million. During the same period in the previous year, the company posted $0.13 EPS. The firm’s revenue for the quarter was down 18.6% compared to the same quarter last year.

Mueller Water Products Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, February 20th. Shareholders of record on Friday, February 9th will be paid a $0.064 dividend. The ex-dividend date of this dividend is Thursday, February 8th. This represents a $0.26 dividend on an annualized basis and a yield of 1.68%. Mueller Water Products’s dividend payout ratio is currently 52.00%.

Analyst Ratings Changes

Separately, StockNews.com upgraded Mueller Water Products from a “hold” rating to a “buy” rating in a research note on Friday. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $19.00.

Check Out Our Latest Stock Report on Mueller Water Products

Insiders Place Their Bets

In other news, Director Thomas J. Hansen sold 6,044 shares of the stock in a transaction dated Wednesday, January 10th. The stock was sold at an average price of $13.77, for a total transaction of $83,225.88. Following the transaction, the director now directly owns 94,525 shares in the company, valued at approximately $1,301,609.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Lydia W. Thomas sold 5,961 shares of the stock in a transaction dated Friday, January 19th. The stock was sold at an average price of $13.95, for a total transaction of $83,155.95. Following the transaction, the director now directly owns 128,138 shares in the company, valued at approximately $1,787,525.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Thomas J. Hansen sold 6,044 shares of the stock in a transaction dated Wednesday, January 10th. The shares were sold at an average price of $13.77, for a total value of $83,225.88. Following the transaction, the director now owns 94,525 shares in the company, valued at $1,301,609.25. The disclosure for this sale can be found here. Corporate insiders own 1.40% of the company’s stock.

Hedge Funds Weigh In On Mueller Water Products

Institutional investors have recently modified their holdings of the company. Cramer Rosenthal Mcglynn LLC bought a new position in shares of Mueller Water Products during the 2nd quarter valued at about $8,131,000. Swiss National Bank boosted its holdings in Mueller Water Products by 1.1% during the 2nd quarter. Swiss National Bank now owns 340,200 shares of the industrial products company’s stock valued at $5,521,000 after acquiring an additional 3,800 shares during the period. Geode Capital Management LLC boosted its holdings in Mueller Water Products by 3.2% during the 2nd quarter. Geode Capital Management LLC now owns 2,993,942 shares of the industrial products company’s stock valued at $48,592,000 after acquiring an additional 93,956 shares during the period. Stratos Wealth Partners LTD. purchased a new stake in Mueller Water Products during the 3rd quarter valued at about $299,000. Finally, SG Americas Securities LLC purchased a new stake in Mueller Water Products during the 3rd quarter valued at about $1,905,000.

Mueller Water Products Price Performance

The company has a market capitalization of $2.38 billion, a PE ratio of 30.46, a PEG ratio of 1.90 and a beta of 1.33. The firm has a fifty day moving average of $14.02 and a two-hundred day moving average of $13.58. The company has a current ratio of 3.23, a quick ratio of 1.87 and a debt-to-equity ratio of 0.63.

About Mueller Water Products

(Get Free Report)

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.

Featured Articles

Receive News & Ratings for Mueller Water Products Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Mueller Water Products and related companies with MarketBeat.com's FREE daily email newsletter.