Mueller Water Products, Inc. (NYSE:MWA) announced a quarterly dividend on Tuesday, October 30th, Wall Street Journal reports. Stockholders of record on Friday, November 9th will be given a dividend of 0.05 per share by the industrial products company on Tuesday, November 20th. This represents a $0.20 annualized dividend and a dividend yield of 1.75%. The ex-dividend date is Thursday, November 8th.
Mueller Water Products has raised its dividend by an average of 31.7% per year over the last three years and has increased its dividend every year for the last 3 years. Mueller Water Products has a dividend payout ratio of 37.0% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Mueller Water Products to earn $0.72 per share next year, which means the company should continue to be able to cover its $0.20 annual dividend with an expected future payout ratio of 27.8%.
MWA opened at $11.40 on Wednesday. Mueller Water Products has a one year low of $9.59 and a one year high of $12.96. The company has a current ratio of 5.13, a quick ratio of 3.91 and a debt-to-equity ratio of 0.83. The company has a market cap of $1.68 billion, a PE ratio of 21.51, a P/E/G ratio of 1.10 and a beta of 1.10.
Mueller Water Products (NYSE:MWA) last released its quarterly earnings results on Monday, November 5th. The industrial products company reported $0.17 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.17. Mueller Water Products had a net margin of 11.24% and a return on equity of 15.67%. The business had revenue of $254.30 million for the quarter, compared to analysts’ expectations of $239.79 million. During the same period in the prior year, the firm earned $0.15 earnings per share. Mueller Water Products’s revenue was up 12.1% compared to the same quarter last year. As a group, equities analysts anticipate that Mueller Water Products will post 0.64 EPS for the current fiscal year.
Several analysts have recently commented on MWA shares. Oppenheimer set a $14.00 price target on shares of Mueller Water Products and gave the company a “buy” rating in a research note on Wednesday, September 12th. Berenberg Bank started coverage on shares of Mueller Water Products in a research note on Wednesday, October 3rd. They set a “buy” rating and a $15.00 price target on the stock. Zacks Investment Research raised shares of Mueller Water Products from a “sell” rating to a “hold” rating in a research note on Saturday, August 18th. Seaport Global Securities cut shares of Mueller Water Products from a “buy” rating to a “neutral” rating and decreased their price target for the company from $15.00 to $12.50 in a research note on Wednesday, August 8th. Finally, Nomura decreased their price target on shares of Mueller Water Products from $15.00 to $14.00 and set a “buy” rating on the stock in a research note on Wednesday, September 12th. One research analyst has rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $13.36.
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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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