Mueller Water Products (NYSE:MWA) Price Target Raised to $24.00

Mueller Water Products (NYSE:MWA) had its price target lifted by Oppenheimer from $22.00 to $24.00 in a research report sent to investors on Wednesday, Benzinga reports. They currently have an outperform rating on the industrial products company’s stock.

Other analysts have also issued research reports about the company. StockNews.com upgraded Mueller Water Products from a buy rating to a strong-buy rating in a report on Tuesday, August 6th. Robert W. Baird increased their price objective on Mueller Water Products from $18.00 to $24.00 and gave the stock a neutral rating in a research note on Wednesday, May 8th. Baird R W raised Mueller Water Products to a hold rating in a research note on Wednesday, May 8th. Finally, Royal Bank of Canada increased their price target on shares of Mueller Water Products from $17.00 to $20.00 and gave the stock a sector perform rating in a research report on Wednesday, May 8th. Five analysts have rated the stock with a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of Hold and a consensus target price of $21.60.

Mueller Water Products Trading Down 2.3 %

Shares of MWA opened at $19.87 on Wednesday. The business’s 50-day moving average price is $18.78 and its 200 day moving average price is $17.02. The company has a current ratio of 3.53, a quick ratio of 2.08 and a debt-to-equity ratio of 0.59. The stock has a market capitalization of $3.09 billion, a P/E ratio of 31.05, a P/E/G ratio of 1.96 and a beta of 1.33. Mueller Water Products has a 1-year low of $12.13 and a 1-year high of $21.02.

Mueller Water Products (NYSE:MWA) last released its earnings results on Monday, August 5th. The industrial products company reported $0.32 earnings per share for the quarter, topping the consensus estimate of $0.22 by $0.10. The business had revenue of $356.70 million for the quarter, compared to the consensus estimate of $329.67 million. Mueller Water Products had a net margin of 8.10% and a return on equity of 16.97%. The firm’s quarterly revenue was up 9.2% compared to the same quarter last year. During the same period last year, the firm posted $0.18 earnings per share. Analysts expect that Mueller Water Products will post 0.86 earnings per share for the current year.

Mueller Water Products Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, August 20th. Stockholders of record on Friday, August 9th will be issued a dividend of $0.064 per share. The ex-dividend date is Friday, August 9th. This represents a $0.26 annualized dividend and a dividend yield of 1.29%. Mueller Water Products’s dividend payout ratio is 39.06%.

Insider Activity at Mueller Water Products

In other Mueller Water Products news, Director Brian C. Healy acquired 2,650 shares of the business’s stock in a transaction that occurred on Wednesday, May 15th. The shares were purchased at an average price of $19.18 per share, with a total value of $50,827.00. Following the completion of the transaction, the director now owns 2,650 shares in the company, valued at $50,827. The acquisition was disclosed in a document filed with the SEC, which is available at this link. In other Mueller Water Products news, SVP Kenji Takeuchi sold 6,658 shares of the business’s stock in a transaction dated Thursday, May 16th. The stock was sold at an average price of $19.09, for a total value of $127,101.22. Following the completion of the sale, the senior vice president now owns 28,334 shares of the company’s stock, valued at $540,896.06. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Brian C. Healy acquired 2,650 shares of the stock in a transaction dated Wednesday, May 15th. The shares were bought at an average cost of $19.18 per share, for a total transaction of $50,827.00. Following the acquisition, the director now owns 2,650 shares in the company, valued at approximately $50,827. The disclosure for this purchase can be found here. 1.40% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Mueller Water Products

Large investors have recently added to or reduced their stakes in the stock. Vanguard Personalized Indexing Management LLC boosted its holdings in Mueller Water Products by 7.3% during the fourth quarter. Vanguard Personalized Indexing Management LLC now owns 10,736 shares of the industrial products company’s stock valued at $155,000 after acquiring an additional 735 shares during the period. Arizona State Retirement System boosted its stake in Mueller Water Products by 1.9% during the 2nd quarter. Arizona State Retirement System now owns 43,722 shares of the industrial products company’s stock valued at $783,000 after purchasing an additional 819 shares during the period. National Bank of Canada FI grew its holdings in Mueller Water Products by 44.2% in 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 buying an additional 1,457 shares during the last quarter. Truist Financial Corp increased its position in Mueller Water Products by 6.0% in the 4th quarter. Truist Financial Corp now owns 28,977 shares of the industrial products company’s stock worth $417,000 after buying an additional 1,642 shares during the period. Finally, Pingora Partners LLC acquired a new position in shares of Mueller Water Products during the fourth quarter worth approximately $29,000. Institutional investors own 91.68% of the company’s stock.

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.