Mueller Water Products (NYSE:MWA) Sets New 12-Month High – What’s Next?

Mueller Water Products, Inc. (NYSE:MWA)’s share price reached a new 52-week high on Monday . The company traded as high as $22.90 and last traded at $22.81, with a volume of 218662 shares trading hands. The stock had previously closed at $22.73.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the stock. Royal Bank of Canada lifted their price target on shares of Mueller Water Products from $20.00 to $23.00 and gave the stock a “sector perform” rating in a report on Wednesday, August 7th. Oppenheimer lifted their price objective on Mueller Water Products from $22.00 to $24.00 and gave the stock an “outperform” rating in a report on Wednesday, August 7th. StockNews.com cut Mueller Water Products from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, September 25th. Finally, TD Cowen lowered shares of Mueller Water Products from a “buy” rating to a “hold” rating and increased their target price for the stock from $19.00 to $20.00 in a research report on Friday, August 9th. Five investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $21.60.

Mueller Water Products Price Performance

The company has a current ratio of 3.70, a quick ratio of 2.31 and a debt-to-equity ratio of 0.57. The firm has a market cap of $3.57 billion, a PE ratio of 35.66, a PEG ratio of 1.39 and a beta of 1.34. The business has a fifty day moving average of $20.77 and a 200-day moving average of $18.86.

Mueller Water Products (NYSE:MWA) last released its quarterly earnings data on Monday, August 5th. The industrial products company reported $0.32 EPS for the quarter, beating analysts’ consensus estimates of $0.22 by $0.10. The company had revenue of $356.70 million during the quarter, compared to analyst estimates of $329.67 million. Mueller Water Products had a net margin of 9.71% and a return on equity of 19.46%. Mueller Water Products’s revenue was up 9.2% compared to the same quarter last year. During the same period last year, the business earned $0.18 earnings per share. As a group, research analysts predict that Mueller Water Products, Inc. will post 0.93 earnings per share for the current year.

Mueller Water Products Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, August 20th. Investors of record on Friday, August 9th were given a dividend of $0.064 per share. This represents a $0.26 annualized dividend and a yield of 1.12%. The ex-dividend date was Friday, August 9th. Mueller Water Products’s payout ratio is 39.06%.

Insider Activity

In related news, Director Christine Ortiz sold 8,800 shares of the firm’s stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $19.94, for a total value of $175,472.00. Following the sale, the director now directly owns 34,699 shares of the company’s stock, valued at $691,898.06. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, Director Thomas J. Hansen sold 10,791 shares of the stock in a transaction on Monday, August 19th. The stock was sold at an average price of $20.55, for a total value of $221,755.05. Following the transaction, the director now owns 102,792 shares of the company’s stock, valued at $2,112,375.60. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Christine Ortiz sold 8,800 shares of the firm’s stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $19.94, for a total value of $175,472.00. Following the sale, the director now owns 34,699 shares in the company, valued at $691,898.06. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 256,869 shares of company stock worth $5,141,842. 1.40% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Mueller Water Products

Several institutional investors have recently modified their holdings of the company. Daiwa Securities Group Inc. purchased a new stake in Mueller Water Products in the first quarter worth approximately $46,000. Allspring Global Investments Holdings LLC purchased a new stake in shares of Mueller Water Products in the 2nd quarter valued at $72,000. National Bank of Canada FI grew its holdings in shares of Mueller Water Products by 44.2% during the 2nd quarter. National Bank of Canada FI now owns 4,757 shares of the industrial products company’s stock valued at $83,000 after purchasing an additional 1,457 shares during the last quarter. Register Financial Advisors LLC purchased a new position in Mueller Water Products in the 1st quarter worth $80,000. Finally, Quarry LP lifted its stake in Mueller Water Products by 341.0% in the second quarter. Quarry LP now owns 5,632 shares of the industrial products company’s stock worth $101,000 after purchasing an additional 4,355 shares during the last quarter. 91.68% of the stock is currently owned by institutional investors.

Mueller Water Products Company Profile

Mueller Water Products, Inc manufactures and markets products and services for the transmission, distribution, and measurement of water used by municipalities, and the residential and non-residential construction industries in the United States, Israel, and internationally. It operates in two segments, Water Flow Solutions and Water Management Solutions.