Cowen Lowers Mueller Water Products (NYSE:MWA) to Underperform

Mueller Water Products (NYSE:MWA) was downgraded by equities research analysts at Cowen from a “market perform” rating to an “underperform” rating in a report released on Friday, January 19th, Marketbeat.com reports. They presently have a $11.00 price target on the industrial products company’s stock. Cowen’s price objective indicates a potential upside of 0.09% from the company’s previous close.

Several other research firms have also recently commented on MWA. Robert W. Baird reiterated a “hold” rating and set a $14.00 target price on shares of Mueller Water Products in a research note on Wednesday, October 4th. Royal Bank of Canada reiterated a “buy” rating and set a $14.00 target price on shares of Mueller Water Products in a research note on Wednesday, October 11th. Boenning Scattergood reiterated a “buy” rating and set a $14.00 target price on shares of Mueller Water Products in a research note on Thursday, November 2nd. Finally, Oppenheimer reiterated an “outperform” rating and set a $15.00 target price on shares of Mueller Water Products in a research note on Thursday, December 28th. They noted that the move was a valuation call. One research analyst has rated the stock with a sell rating, four have issued a hold rating and five have given a buy rating to the stock. Mueller Water Products has an average rating of “Hold” and an average target price of $13.88.

Mueller Water Products (NYSE:MWA) traded up $0.12 during midday trading on Friday, reaching $10.99. The company’s stock had a trading volume of 1,049,739 shares, compared to its average volume of 1,339,423. The stock has a market cap of $1,720.00, a PE ratio of 16.91, a PEG ratio of 1.60 and a beta of 1.20. Mueller Water Products has a 52-week low of $10.54 and a 52-week high of $12.99. The company has a debt-to-equity ratio of 0.89, a quick ratio of 4.68 and a current ratio of 6.19.

Mueller Water Products (NYSE:MWA) last released its quarterly earnings results on Thursday, February 1st. The industrial products company reported $0.06 earnings per share for the quarter, hitting the Zacks’ 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 return on equity of 15.25% and a net margin of 20.51%. Mueller Water Products’s quarterly revenue was up 6.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.04 EPS. equities analysts anticipate that Mueller Water Products will post 0.54 EPS for the current fiscal year.

In other news, insider Gregory E. Hyland sold 84,514 shares of the firm’s stock in a transaction on Friday, November 24th. The stock was sold at an average price of $12.27, for a total transaction of $1,036,986.78. Following the transaction, the insider now directly owns 979,481 shares of the company’s stock, valued at $12,018,231.87. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Evan Hart sold 100,000 shares of the firm’s stock in a transaction on Wednesday, November 29th. The shares were sold at an average price of $12.47, for a total value of $1,247,000.00. Following the transaction, the chief financial officer now directly owns 275,058 shares in the company, valued at $3,429,973.26. The disclosure for this sale can be found here. Insiders sold 476,640 shares of company stock worth $5,886,596 over the last ninety days. 3.00% of the stock is owned by corporate insiders.

A number of hedge funds have recently made changes to their positions in MWA. Earnest Partners LLC boosted its stake in Mueller Water Products by 18.2% during the second quarter. Earnest Partners LLC now owns 8,136,500 shares of the industrial products company’s stock valued at $95,034,000 after buying an additional 1,251,546 shares in the last quarter. Lazard Asset Management LLC bought a new position in Mueller Water Products during the second quarter valued at about $8,803,000. Dimensional Fund Advisors LP boosted its stake in Mueller Water Products by 13.4% during the second quarter. Dimensional Fund Advisors LP now owns 6,306,195 shares of the industrial products company’s stock valued at $73,657,000 after buying an additional 745,251 shares in the last quarter. Jennison Associates LLC boosted its stake in Mueller Water Products by 45.0% during the third quarter. Jennison Associates LLC now owns 2,348,643 shares of the industrial products company’s stock valued at $30,063,000 after buying an additional 729,104 shares in the last quarter. Finally, SG Capital Management LLC bought a new position in Mueller Water Products during the fourth quarter valued at about $7,246,000. 83.61% of the stock is owned by institutional investors and hedge funds.

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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.

Analyst Recommendations for Mueller Water Products (NYSE:MWA)

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