Mueller Water Products (NYSE:MWA) Sets New 52-Week High – Should You Buy?

Mueller Water Products, Inc. (NYSE:MWA) reached a new 52-week high during trading on Monday . The stock traded as high as $28.25 and last traded at $27.90, with a volume of 3297763 shares traded. The stock had previously closed at $27.25.

Wall Street Analyst Weigh In

MWA has been the subject of several recent analyst reports. Royal Bank of Canada raised their target price on shares of Mueller Water Products from $25.00 to $29.00 and gave the company a “sector perform” rating in a research note on Thursday, February 6th. The Goldman Sachs Group increased their price objective on shares of Mueller Water Products from $26.00 to $29.00 and gave the company a “neutral” rating in a research report on Thursday, February 6th. Five equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, Mueller Water Products currently has an average rating of “Hold” and an average price target of $25.80.

Mueller Water Products Trading Up 2.4 %

The company has a current ratio of 3.83, a quick ratio of 2.38 and a debt-to-equity ratio of 0.54. The company has a 50-day simple moving average of $24.71 and a 200 day simple moving average of $23.44. The firm has a market cap of $4.37 billion, a PE ratio of 32.45, a price-to-earnings-growth ratio of 1.43 and a beta of 1.39.

Mueller Water Products (NYSE:MWA) last issued its quarterly earnings data on Tuesday, February 4th. The industrial products company reported $0.25 earnings per share for the quarter, topping analysts’ consensus estimates of $0.19 by $0.06. Mueller Water Products had a net margin of 10.05% and a return on equity of 21.18%. During the same period in the prior year, the company earned $0.13 earnings per share. As a group, sell-side analysts forecast that Mueller Water Products, Inc. will post 1.24 earnings per share for the current fiscal year.

Mueller Water Products Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 21st. Shareholders of record on Monday, February 10th were given a dividend of $0.067 per share. The ex-dividend date was Monday, February 10th. This represents a $0.27 dividend on an annualized basis and a yield of 0.96%. Mueller Water Products’s dividend payout ratio is currently 30.23%.

Insider Activity

In related news, Director Lydia W. Thomas sold 17,092 shares of Mueller Water Products stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $26.77, for a total value of $457,552.84. Following the sale, the director now directly owns 126,689 shares in the company, valued at approximately $3,391,464.53. The trade was a 11.89 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Brian Slobodow sold 11,132 shares of the stock in a transaction that occurred on Tuesday, March 4th. The shares were sold at an average price of $24.73, for a total value of $275,294.36. Following the transaction, the director now directly owns 7,376 shares of the company’s stock, valued at $182,408.48. The trade was a 60.15 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.10% of the company’s stock.

Institutional Investors Weigh In On Mueller Water Products

Several institutional investors and hedge funds have recently added to or reduced their stakes in MWA. Principal Financial Group Inc. raised its position in shares of Mueller Water Products by 369.1% in the third quarter. Principal Financial Group Inc. now owns 98,457 shares of the industrial products company’s stock valued at $2,137,000 after buying an additional 77,467 shares during the last quarter. Oppenheimer & Co. Inc. grew its stake in Mueller Water Products by 256.7% during the 3rd quarter. Oppenheimer & Co. Inc. now owns 42,348 shares of the industrial products company’s stock valued at $919,000 after acquiring an additional 30,475 shares in the last quarter. Thrivent Financial for Lutherans raised its holdings in Mueller Water Products by 364.6% in the 3rd quarter. Thrivent Financial for Lutherans now owns 401,683 shares of the industrial products company’s stock valued at $8,716,000 after acquiring an additional 315,224 shares during the last quarter. Quest Partners LLC boosted its holdings in shares of Mueller Water Products by 189.4% during the 3rd quarter. Quest Partners LLC now owns 114,811 shares of the industrial products company’s stock worth $2,491,000 after purchasing an additional 75,144 shares during the last quarter. Finally, Jennison Associates LLC purchased a new stake in shares of Mueller Water Products in the third quarter valued at approximately $1,487,000. Institutional investors and hedge funds 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.