Mueller Water Products (MWA) Shares Gap Down on Analyst Downgrade

Mueller Water Products, Inc. (NYSE:MWA)’s share price gapped down before the market opened on Friday after Nomura lowered their price target on the stock from $17.00 to $15.00. The stock had previously closed at $12.14, but opened at $11.67. Nomura currently has a buy rating on the stock. Mueller Water Products shares last traded at $11.35, with a volume of 3428700 shares traded.

MWA has been the subject of a number of other reports. Robert W. Baird reissued a “hold” rating and issued a $14.00 price target on shares of Mueller Water Products in a research report on Friday, November 10th. Royal Bank of Canada reissued a “buy” rating and issued a $14.00 price target on shares of Mueller Water Products in a research report on Wednesday, October 11th. Boenning Scattergood reissued a “buy” rating and issued a $14.00 price target on shares of Mueller Water Products in a research report on Thursday, November 2nd. Oppenheimer reissued an “outperform” rating and issued a $15.00 price target on shares of Mueller Water Products in a research report on Thursday, December 28th. They noted that the move was a valuation call. Finally, Cowen cut shares of Mueller Water Products from a “market perform” rating to an “underperform” rating and set a $11.00 price target for the company. in a research report on Friday, January 19th. One analyst has rated the stock with a sell rating, four have issued a hold rating and five have assigned a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $13.88.

In other news, CFO Evan Hart sold 50,000 shares of the company’s stock in a transaction dated Wednesday, November 8th. The shares were sold at an average price of $12.10, for a total value of $605,000.00. Following the completion of the sale, the chief financial officer now directly owns 321,247 shares of the company’s stock, valued at $3,887,088.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Gregory E. Hyland sold 142,243 shares of the company’s stock in a transaction dated Wednesday, November 29th. The shares were sold at an average price of $12.37, for a total transaction of $1,759,545.91. Following the completion of the sale, the insider now directly owns 979,481 shares of the company’s stock, valued at $12,116,179.97. The disclosure for this sale can be found here. Insiders sold 526,640 shares of company stock valued at $6,491,596 over the last ninety days. Corporate insiders own 3.00% of the company’s stock.

Several large investors have recently made changes to their positions in MWA. Principal Financial Group Inc. raised its holdings in Mueller Water Products by 59.0% during the second quarter. Principal Financial Group Inc. now owns 347,391 shares of the industrial products company’s stock worth $4,057,000 after purchasing an additional 128,970 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in Mueller Water Products by 56.8% during the second quarter. JPMorgan Chase & Co. now owns 190,327 shares of the industrial products company’s stock worth $2,223,000 after purchasing an additional 68,972 shares in the last quarter. Teachers Advisors LLC raised its holdings in Mueller Water Products by 3.1% during the second quarter. Teachers Advisors LLC now owns 276,884 shares of the industrial products company’s stock worth $3,234,000 after purchasing an additional 8,246 shares in the last quarter. TIAA CREF Investment Management LLC raised its holdings in Mueller Water Products by 14.1% during the second quarter. TIAA CREF Investment Management LLC now owns 799,895 shares of the industrial products company’s stock worth $9,343,000 after purchasing an additional 98,711 shares in the last quarter. Finally, Ameriprise Financial Inc. raised its holdings in Mueller Water Products by 4.6% during the second quarter. Ameriprise Financial Inc. now owns 486,358 shares of the industrial products company’s stock worth $5,680,000 after purchasing an additional 21,562 shares in the last quarter. 83.99% of the stock is owned by institutional investors and hedge funds.

The stock has a market cap of $1,843.82 and a price-to-earnings ratio of 14.93. The company has a debt-to-equity ratio of 0.97, a current ratio of 4.73 and a quick ratio of 3.75.

Mueller Water Products (NYSE:MWA) last posted its quarterly earnings results on Thursday, February 1st. The industrial products company reported $0.06 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.06. The firm had revenue of $178.30 million during the quarter, compared to analysts’ expectations of $176.13 million. Mueller Water Products had a net margin of 14.93% and a return on equity of 15.43%. The firm’s revenue for the quarter was up 6.6% on a year-over-year basis. During the same period in the prior year, the company posted $0.04 earnings per share. equities research analysts anticipate that Mueller Water Products, Inc. will post 0.54 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, February 20th. Investors of record on Friday, February 9th will be issued a dividend of $0.05 per share. This is a boost from Mueller Water Products’s previous quarterly dividend of $0.04. This represents a $0.20 annualized dividend and a yield of 1.76%. The ex-dividend date is Thursday, February 8th. Mueller Water Products’s dividend payout ratio is currently 21.05%.

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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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