Mueller Water Products (NYSE:MWA) Lowered to “Sell” at Zacks Investment Research

Zacks Investment Research downgraded shares of Mueller Water Products (NYSE:MWA) from a hold rating to a sell rating in a research note released on Wednesday, Zacks.com reports.

According to Zacks, “Mueller Water Products, Inc. manufactures and markets products and services that are used in the transmission and distribution of safe, clean drinking water and in water treatment facilities. Their broad product portfolio includes engineered valves, fire hydrants, pipe fittings, water meters and ductile iron pipe, which are used by municipalities, as well as the residential and non-residential construction industries. “

MWA has been the topic of several other research reports. Goldman Sachs Group started coverage on shares of Tricida in a research report on Wednesday, June 26th. They set a buy rating and a $48.00 price target on the stock. Boenning Scattergood reiterated a hold rating on shares of Mueller Water Products in a research report on Tuesday, May 7th. Seaport Global Securities started coverage on shares of United Technologies in a research report on Friday, May 10th. They issued a neutral rating and a $136.86 target price on the stock. ValuEngine upgraded shares of Zogenix from a buy rating to a strong-buy rating in a research report on Thursday, June 27th. Finally, Oppenheimer set a $13.00 target price on shares of Alpine Immune Sciences and gave the company a buy rating in a research report on Tuesday, March 19th. Three analysts have rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the stock. Mueller Water Products presently has an average rating of Hold and a consensus price target of $11.83.

MWA stock traded down $0.05 during midday trading on Wednesday, hitting $9.44. 384,700 shares of the stock traded hands, compared to its average volume of 947,175. The firm has a market capitalization of $1.50 billion, a price-to-earnings ratio of 17.81, a P/E/G ratio of 1.31 and a beta of 1.17. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.89 and a current ratio of 3.07. The company’s fifty day moving average is $9.62. Mueller Water Products has a 1-year low of $8.47 and a 1-year high of $12.59.

Mueller Water Products (NYSE:MWA) last released its quarterly earnings results on Monday, May 6th. The industrial products company reported $0.12 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.14 by ($0.02). The firm had revenue of $234.00 million for the quarter, compared to analyst estimates of $252.06 million. Mueller Water Products had a net margin of 3.24% and a return on equity of 15.89%. The firm’s quarterly revenue was up .4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.12 EPS. Sell-side analysts anticipate that Mueller Water Products will post 0.6 EPS for the current year.

In related news, Director Bernard G. Rethore bought 10,000 shares of the company’s stock in a transaction dated Thursday, May 9th. The shares were acquired at an average price of $9.19 per share, for a total transaction of $91,900.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Shirley C. Franklin sold 6,700 shares of Mueller Water Products stock in a transaction dated Wednesday, June 12th. The shares were sold at an average price of $9.55, for a total transaction of $63,985.00. Following the completion of the sale, the director now owns 52,892 shares in the company, valued at approximately $505,118.60. The disclosure for this sale can be found here. 1.70% of the stock is owned by company insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. BlackRock Inc. boosted its position in Mueller Water Products by 0.8% during the fourth quarter. BlackRock Inc. now owns 11,178,027 shares of the industrial products company’s stock worth $101,720,000 after acquiring an additional 92,741 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in Mueller Water Products by 0.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 6,309,406 shares of the industrial products company’s stock worth $57,416,000 after acquiring an additional 44,193 shares during the last quarter. Gamco Investors INC. ET AL boosted its position in Mueller Water Products by 5.9% during the first quarter. Gamco Investors INC. ET AL now owns 6,015,608 shares of the industrial products company’s stock worth $60,397,000 after acquiring an additional 337,316 shares during the last quarter. Norges Bank acquired a new position in Mueller Water Products during the fourth quarter worth about $50,182,000. Finally, Amundi Pioneer Asset Management Inc. boosted its position in Mueller Water Products by 69.1% during the first quarter. Amundi Pioneer Asset Management Inc. now owns 2,175,379 shares of the industrial products company’s stock worth $21,840,000 after acquiring an additional 888,715 shares during the last quarter. Institutional investors and hedge funds own 86.50% of the company’s stock.

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 in two segments, Infrastructure and Technologies. The Infrastructure segment offers valves for water and gas systems, including butterfly, iron gate, 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; and machines and tools for tapping, drilling, extracting, installing, and stopping-off.

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