Mueller Water Products (MWA) to Distribute Quarterly Dividend of $0.08 on November 19th

Mueller Water Products (NYSE:MWA) declared a quarterly dividend on Thursday, October 22nd. Investors of record on Monday, November 9th will be paid a dividend of $0.08 per share by the industrial products company on Thursday, November 19th. This represents a $0.32 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date of this dividend is Monday, November 9th. This is a 14.3% increase from Mueller Water Products’s previous quarterly dividend of $0.07.

Mueller Water Products has increased its dividend by an average of 0.1% per year over the last three years and has raised its dividend every year for the last 10 years. Mueller Water Products has a payout ratio of 20.7% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Mueller Water Products to earn $1.62 per share next year, which means the company should continue to be able to cover its $0.28 annual dividend with an expected future payout ratio of 17.3%.

Mueller Water Products Price Performance

NYSE MWA opened at $22.27 on Friday. The company has a market capitalization of $3.48 billion, a PE ratio of 14.19, a price-to-earnings-growth ratio of 0.92 and a beta of 1.01. The company has a debt-to-equity ratio of 0.40, a quick ratio of 3.08 and a current ratio of 4.64. The business’s fifty day moving average is $22.89 and its 200 day moving average is $25.06. Mueller Water Products has a fifty-two week low of $20.90 and a fifty-two week high of $31.00.

Mueller Water Products (NYSE:MWA) last issued its quarterly earnings results on Wednesday, August 5th. The industrial products company reported $0.50 EPS for the quarter, topping analysts’ consensus estimates of $0.39 by $0.11. Mueller Water Products had a return on equity of 23.55% and a net margin of 15.02%. The business had revenue of $395.90 million during the quarter, compared to analysts’ expectations of $391.49 million. During the same quarter in the prior year, the business posted $0.34 earnings per share. The business’s quarterly revenue was up 4.1% on a year-over-year basis. Sell-side analysts predict that Mueller Water Products will post 1.52 earnings per share for the current year.

Insider Buying and Selling at Mueller Water Products

In related news, CEO Paul McAndrew sold 40,000 shares of the firm’s stock in a transaction on Monday, August 10th. The shares were sold at an average price of $26.39, for a total value of $1,055,600.00. Following the completion of the transaction, the chief executive officer directly owned 42,556 shares of the company’s stock, valued at approximately $1,123,052.84. This trade represents a 48.45% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Christine Ortiz sold 12,048 shares of Mueller Water Products stock in a transaction on Monday, August 31st. The stock was sold at an average price of $24.23, for a total transaction of $291,923.04. Following the completion of the transaction, the director directly owned 30,824 shares of the company’s stock, valued at $746,865.52. The trade was a 28.10% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have sold 52,598 shares of company stock worth $1,360,685. Insiders own 1.10% of the company’s stock.

Institutional Investors Weigh In On Mueller Water Products

Several hedge funds and other institutional investors have recently modified their holdings of MWA. GAMMA Investing LLC grew its position in shares of Mueller Water Products by 10.4% in the 2nd quarter. GAMMA Investing LLC now owns 4,487 shares of the industrial products company’s stock worth $116,000 after buying an additional 421 shares during the last quarter. Wedbush Securities Inc. lifted its position in Mueller Water Products by 3.8% during the second quarter. Wedbush Securities Inc. now owns 12,308 shares of the industrial products company’s stock valued at $318,000 after acquiring an additional 447 shares during the last quarter. RWC Asset Management LLP lifted its position in Mueller Water Products by 3.5% during the third quarter. RWC Asset Management LLP now owns 23,291 shares of the industrial products company’s stock valued at $495,000 after acquiring an additional 778 shares during the last quarter. Sterling Capital Management LLC boosted its stake in Mueller Water Products by 89.5% in the first quarter. Sterling Capital Management LLC now owns 1,935 shares of the industrial products company’s stock valued at $53,000 after acquiring an additional 914 shares in the last quarter. Finally, Personal CFO Solutions LLC boosted its stake in Mueller Water Products by 8.5% in the first quarter. Personal CFO Solutions LLC now owns 11,727 shares of the industrial products company’s stock valued at $322,000 after acquiring an additional 916 shares in the last quarter. 91.68% of the stock is currently owned by hedge funds and other institutional investors.

Mueller Water Products Company Profile

Mueller Water Products, Inc (NYSE:MWA) manufactures products and provides services used in the treatment, transmission, distribution, and measurement of water. Its customers include municipalities, water utilities, distributors, contractors, and industrial organizations.

The company’s product portfolio includes water valves, fire hydrants, pipe fittings, repair and connection products, and related infrastructure equipment. Through its Echologics business, Mueller also provides acoustic leak-detection technologies and other solutions designed to help utilities monitor and manage water distribution systems.

Mueller Water Products traces its history to Mueller Co, which was founded in 1857.