Mueller Water Products (NYSE:MWA) released its quarterly earnings results on Monday. The industrial products company reported $0.17 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.17, Briefing.com reports. Mueller Water Products had a return on equity of 15.67% and a net margin of 11.24%. The company had revenue of $254.30 million during the quarter, compared to analysts’ expectations of $239.79 million. During the same quarter in the prior year, the business posted $0.15 earnings per share. The company’s revenue for the quarter was up 12.1% compared to the same quarter last year.
Shares of NYSE:MWA traded up $0.57 on Tuesday, hitting $11.40. The company’s stock had a trading volume of 2,676,055 shares, compared to its average volume of 956,933. Mueller Water Products has a 12 month low of $9.59 and a 12 month high of $12.96. The stock has a market cap of $1.68 billion, a price-to-earnings ratio of 25.91, a PEG ratio of 1.10 and a beta of 1.10. The company has a debt-to-equity ratio of 0.83, a quick ratio of 3.91 and a current ratio of 5.13.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, November 20th. Stockholders of record on Friday, November 9th will be paid a $0.05 dividend. The ex-dividend date is Thursday, November 8th. This represents a $0.20 annualized dividend and a dividend yield of 1.75%. Mueller Water Products’s payout ratio is 45.45%.
Several research analysts have recently issued reports on MWA shares. Oppenheimer reissued a “buy” rating and issued a $14.00 price target on shares of Mueller Water Products in a research note on Monday, August 6th. Zacks Investment Research raised Mueller Water Products from a “sell” rating to a “hold” rating in a research note on Wednesday, September 26th. Nomura decreased their price target on Mueller Water Products from $15.00 to $14.00 and set a “buy” rating for the company in a research note on Wednesday, September 12th. Finally, Seaport Global Securities cut Mueller Water Products from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $15.00 to $12.50 in a research note on Wednesday, August 8th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and three have assigned a buy rating to the company. Mueller Water Products has a consensus rating of “Hold” and a consensus target price of $13.36.
Several large investors have recently added to or reduced their stakes in the company. Comerica Bank grew its stake in shares of Mueller Water Products by 2.0% in the third quarter. Comerica Bank now owns 245,587 shares of the industrial products company’s stock worth $2,569,000 after purchasing an additional 4,781 shares in the last quarter. Insight 2811 Inc. boosted its stake in Mueller Water Products by 7.0% during the third quarter. Insight 2811 Inc. now owns 73,351 shares of the industrial products company’s stock valued at $844,000 after buying an additional 4,789 shares in the last quarter. Manning & Napier Group LLC boosted its stake in Mueller Water Products by 2.8% during the third quarter. Manning & Napier Group LLC now owns 179,424 shares of the industrial products company’s stock valued at $2,064,000 after buying an additional 4,854 shares in the last quarter. MetLife Investment Advisors LLC boosted its stake in Mueller Water Products by 9.0% during the second quarter. MetLife Investment Advisors LLC now owns 71,344 shares of the industrial products company’s stock valued at $836,000 after buying an additional 5,896 shares in the last quarter. Finally, Teton Advisors Inc. boosted its stake in Mueller Water Products by 6.1% during the third quarter. Teton Advisors Inc. now owns 112,700 shares of the industrial products company’s stock valued at $1,297,000 after buying an additional 6,500 shares in the last quarter. 86.34% of the stock is owned by institutional investors.
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About Mueller Water Products
Mueller Water Products, Inc manufactures and markets products and services for use in the transmission, distribution, and measurement of water in the United States, Canada, and internationally. It operates through Infrastructure and Technologies segments. The Infrastructure segment offers valves for water and gas systems, including iron gate, butterfly, tapping, check, knife, plug, automatic control, and ball valves; dry-barrel and wet-barrel fire hydrants; pipe repair products, such as clamps and couplings used to repair leaks under the Mueller and Jones brand names; small valves, meter bars, and line stopper fittings for use in gas systems; and machines and tools for tapping, drilling, extracting, installing, and stopping-off.
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