Mueller Water Products, Inc. to Post Q3 2024 Earnings of $0.21 Per Share, Seaport Res Ptn Forecasts (NYSE:MWA)

Mueller Water Products, Inc. (NYSE:MWA) – Analysts at Seaport Res Ptn boosted their Q3 2024 EPS estimates for Mueller Water Products in a note issued to investors on Wednesday, May 8th. Seaport Res Ptn analyst W. Liptak now anticipates that the industrial products company will post earnings per share of $0.21 for the quarter, up from their previous forecast of $0.19. The consensus estimate for Mueller Water Products’ current full-year earnings is $0.69 per share. Seaport Res Ptn also issued estimates for Mueller Water Products’ FY2024 earnings at $0.82 EPS, Q1 2025 earnings at $0.17 EPS, Q2 2025 earnings at $0.28 EPS, Q3 2025 earnings at $0.24 EPS and FY2025 earnings at $0.90 EPS.

Several other equities analysts have also weighed in on the stock. Robert W. Baird raised their price objective on shares of Mueller Water Products from $18.00 to $24.00 and gave the company a “neutral” rating in a research report on Wednesday. StockNews.com upgraded Mueller Water Products from a “hold” rating to a “buy” rating in a research note on Thursday. Royal Bank of Canada increased their target price on Mueller Water Products from $17.00 to $20.00 and gave the company a “sector perform” rating in a research note on Wednesday. The Goldman Sachs Group lifted their price target on Mueller Water Products from $15.00 to $17.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 13th. Finally, Oppenheimer upgraded 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 analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $20.00.

Mueller Water Products Stock Performance

Shares of NYSE MWA opened at $18.92 on Thursday. Mueller Water Products has a one year low of $12.11 and a one year high of $18.99. The business’s 50-day moving average price is $15.82 and its two-hundred day moving average price is $14.57. The company has a debt-to-equity ratio of 0.61, a current ratio of 3.29 and a quick ratio of 1.89. The company has a market capitalization of $2.95 billion, a P/E ratio of 29.56, a price-to-earnings-growth ratio of 1.97 and a beta of 1.33.

Mueller Water Products (NYSE:MWA) last posted its quarterly earnings results on Monday, May 6th. The industrial products company reported $0.30 earnings per share for the quarter, beating the consensus estimate of $0.15 by $0.15. The firm had revenue of $353.40 million for the quarter, compared to analyst estimates of $299.62 million. Mueller Water Products had a return on equity of 13.86% and a net margin of 6.35%. Mueller Water Products’s quarterly revenue was up 6.2% on a year-over-year basis. During the same period in the previous year, the firm earned $0.14 earnings per share.

Institutional Trading of Mueller Water Products

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. State Board of Administration of Florida Retirement System raised its holdings in Mueller Water Products by 19.9% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 191,210 shares of the industrial products company’s stock worth $3,077,000 after purchasing an additional 31,739 shares during the last quarter. ProShare Advisors LLC raised its stake in shares of Mueller Water Products by 8.5% during the first quarter. ProShare Advisors LLC now owns 27,904 shares of the industrial products company’s stock worth $449,000 after buying an additional 2,197 shares during the last quarter. Avantax Advisory Services Inc. lifted its holdings in Mueller Water Products by 81.6% in the first quarter. Avantax Advisory Services Inc. now owns 24,067 shares of the industrial products company’s stock valued at $387,000 after buying an additional 10,817 shares during the period. Russell Investments Group Ltd. lifted its holdings in Mueller Water Products by 8,617.9% in the first quarter. Russell Investments Group Ltd. now owns 21,882 shares of the industrial products company’s stock valued at $352,000 after buying an additional 21,631 shares during the period. Finally, QRG Capital Management Inc. boosted its stake in Mueller Water Products by 15.6% in the first quarter. QRG Capital Management Inc. now owns 60,450 shares of the industrial products company’s stock valued at $973,000 after acquiring an additional 8,143 shares during the last quarter. Institutional investors and hedge funds own 91.68% of the company’s stock.

Insiders Place Their Bets

In other Mueller Water Products news, CAO Suzanne G. Smith sold 2,800 shares of Mueller Water Products stock in a transaction on Tuesday, February 13th. The shares were sold at an average price of $15.09, for a total transaction of $42,252.00. Following the sale, the chief accounting officer now owns 3,208 shares in the company, valued at $48,408.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other Mueller Water Products news, Director Arsdell Stephen C. Van purchased 10,000 shares of the company’s stock in a transaction that occurred on Friday, March 1st. The stock was purchased at an average cost of $15.42 per share, with a total value of $154,200.00. Following the acquisition, the director now directly owns 80,603 shares of the company’s stock, valued at approximately $1,242,898.26. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Suzanne G. Smith sold 2,800 shares of the business’s stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $15.09, for a total value of $42,252.00. Following the completion of the transaction, the chief accounting officer now directly owns 3,208 shares in the company, valued at approximately $48,408.72. The disclosure for this sale can be found here. In the last quarter, insiders sold 69,458 shares of company stock worth $1,052,260. 1.40% of the stock is currently owned by company insiders.

Mueller Water Products Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, May 20th. Shareholders of record on Friday, May 10th will be issued a $0.064 dividend. The ex-dividend date is Thursday, May 9th. This represents a $0.26 annualized dividend and a yield of 1.35%. Mueller Water Products’s dividend payout ratio (DPR) is 39.06%.

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.