Mueller Water Products (NYSE:MWA) Downgraded by StockNews.com to Buy

StockNews.com cut shares of Mueller Water Products (NYSE:MWAFree Report) from a strong-buy rating to a buy rating in a research report released on Thursday morning.

Several other research analysts have also recently issued reports on the stock. Robert W. Baird upped their target price on shares of Mueller Water Products from $18.00 to $24.00 and gave the company a neutral rating in a report on Wednesday, May 8th. Royal Bank of Canada upped their target price on shares of Mueller Water Products from $17.00 to $20.00 and gave the company a sector perform rating in a report on Wednesday, May 8th. Baird R W upgraded shares of Mueller Water Products to a hold rating in a report on Wednesday, May 8th. Oppenheimer upgraded shares of Mueller Water Products from a market perform rating to an outperform rating and set a $19.00 target price for the company in a report on Thursday, April 18th. Finally, The Goldman Sachs Group upped their target price 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. Five equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of Hold and an average target price of $20.00.

Read Our Latest Analysis on Mueller Water Products

Mueller Water Products Trading Down 0.9 %

Shares of NYSE:MWA opened at $17.62 on Thursday. Mueller Water Products has a 52 week low of $12.11 and a 52 week high of $19.43. The company’s 50 day moving average is $17.10 and its two-hundred day moving average is $15.43. The company has a current ratio of 3.53, a quick ratio of 2.08 and a debt-to-equity ratio of 0.59. The company has a market cap of $2.74 billion, a PE ratio of 27.52, a P/E/G ratio of 1.87 and a beta of 1.33.

Mueller Water Products (NYSE:MWAGet Free Report) last announced its quarterly earnings data on Monday, May 6th. The industrial products company reported $0.30 EPS for the quarter, beating analysts’ consensus estimates of $0.15 by $0.15. Mueller Water Products had a net margin of 8.10% and a return on equity of 16.97%. The company had revenue of $353.40 million for the quarter, compared to the consensus estimate of $299.62 million. During the same period in the prior year, the firm posted $0.14 EPS. The company’s quarterly revenue was up 6.2% compared to the same quarter last year. Equities analysts predict that Mueller Water Products will post 0.79 earnings per share for the current fiscal year.

Mueller Water Products Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, May 20th. Investors of record on Friday, May 10th were paid a dividend of $0.064 per share. This represents a $0.26 dividend on an annualized basis and a yield of 1.45%. The ex-dividend date of this dividend was Thursday, May 9th. Mueller Water Products’s dividend payout ratio is currently 40.63%.

Insider Buying and Selling

In other Mueller Water Products news, Director Brian C. Healy purchased 2,650 shares of the firm’s stock in a transaction that occurred on Wednesday, May 15th. The stock was purchased at an average price of $19.18 per share, for a total transaction of $50,827.00. Following the purchase, the director now directly owns 2,650 shares in the company, valued at $50,827. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, SVP Kenji Takeuchi sold 6,658 shares of the stock in a transaction on Thursday, May 16th. The shares were sold at an average price of $19.09, for a total transaction of $127,101.22. Following the completion of the sale, the senior vice president now owns 28,334 shares in the company, valued at approximately $540,896.06. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Brian C. Healy purchased 2,650 shares of the firm’s stock in a transaction that occurred on Wednesday, May 15th. The shares were acquired at an average price of $19.18 per share, with a total value of $50,827.00. Following the purchase, the director now owns 2,650 shares in the company, valued at $50,827. The disclosure for this purchase can be found here. 1.40% of the stock is owned by company insiders.

Institutional Trading of Mueller Water Products

Several hedge funds have recently made changes to their positions in the company. Price T Rowe Associates Inc. MD lifted its stake in shares of Mueller Water Products by 13.7% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 694,469 shares of the industrial products company’s stock worth $11,175,000 after acquiring an additional 83,567 shares during the period. Quadrature Capital Ltd lifted its stake in shares of Mueller Water Products by 73.7% in the 1st quarter. Quadrature Capital Ltd now owns 31,879 shares of the industrial products company’s stock worth $513,000 after acquiring an additional 13,525 shares during the period. Gabelli Funds LLC lifted its stake in shares of Mueller Water Products by 3.7% in the 1st quarter. Gabelli Funds LLC now owns 757,810 shares of the industrial products company’s stock worth $12,193,000 after acquiring an additional 27,000 shares during the period. Gamco Investors INC. ET AL lifted its stake in shares of Mueller Water Products by 0.5% in the 1st quarter. Gamco Investors INC. ET AL now owns 3,143,039 shares of the industrial products company’s stock worth $50,571,000 after acquiring an additional 15,346 shares during the period. Finally, MQS Management LLC acquired a new stake in shares of Mueller Water Products in the 1st quarter worth $213,000. Institutional investors and hedge funds own 91.68% of the company’s stock.

Mueller Water Products Company Profile

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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.

Further Reading

Analyst Recommendations for Mueller Water Products (NYSE:MWA)

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