Mueller Water Products Inc. (MWA) Given Outperform Rating at Oppenheimer Holdings Inc.
Oppenheimer Holdings Inc. reiterated their outperform rating on shares of Mueller Water Products Inc. (NYSE:MWA) in a research report sent to investors on Monday morning. Oppenheimer Holdings Inc. currently has a $15.00 price objective on the stock, up from their prior price objective of $13.00.
A number of other research analysts also recently weighed in on MWA. Zacks Investment Research downgraded Mueller Water Products from a hold rating to a sell rating in a report on Wednesday, August 3rd. DA Davidson lifted their price target on Mueller Water Products from $11.00 to $12.00 and gave the company a neutral rating in a report on Friday, August 5th. Finally, Northcoast Research upgraded Mueller Water Products from a neutral rating to a buy rating in a report on Wednesday, October 12th. Four analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The stock currently has an average rating of Buy and an average price target of $12.58.
Shares of Mueller Water Products (NYSE:MWA) opened at 13.33 on Monday. The stock has a market capitalization of $2.16 billion, a P/E ratio of 34.18 and a beta of 1.43. The company’s 50 day moving average price is $12.45 and its 200 day moving average price is $11.87. Mueller Water Products has a one year low of $7.52 and a one year high of $13.77.
Mueller Water Products (NYSE:MWA) last announced its earnings results on Wednesday, November 2nd. The company reported $0.17 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.18 by $0.01. The company had revenue of $302.50 million for the quarter, compared to analyst estimates of $325.14 million. Mueller Water Products had a return on equity of 20.57% and a net margin of 5.61%. The firm’s revenue for the quarter was down 2.9% on a year-over-year basis. During the same period last year, the firm earned $0.14 earnings per share. On average, equities analysts expect that Mueller Water Products will post $0.59 earnings per share for the current year.
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The firm also recently disclosed a quarterly dividend, which was paid on Monday, November 21st. Investors of record on Thursday, November 10th were given a dividend of $0.03 per share. The ex-dividend date was Tuesday, November 8th. This represents a $0.12 annualized dividend and a dividend yield of 0.90%. Mueller Water Products’s dividend payout ratio is presently 30.77%.
Several institutional investors have recently bought and sold shares of MWA. Silvercrest Asset Management Group LLC acquired a new position in Mueller Water Products during the second quarter valued at $32,727,000. Victory Capital Management Inc. boosted its position in Mueller Water Products by 13,503.4% in the third quarter. Victory Capital Management Inc. now owns 1,885,298 shares of the company’s stock valued at $23,660,000 after buying an additional 1,871,439 shares in the last quarter. Westfield Capital Management Co. LP boosted its position in Mueller Water Products by 617.6% in the second quarter. Westfield Capital Management Co. LP now owns 2,030,036 shares of the company’s stock valued at $23,183,000 after buying an additional 1,747,136 shares in the last quarter. Franklin Resources Inc. boosted its position in Mueller Water Products by 102.4% in the second quarter. Franklin Resources Inc. now owns 2,829,705 shares of the company’s stock valued at $32,315,000 after buying an additional 1,431,363 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its position in Mueller Water Products by 27.8% in the third quarter. Price T Rowe Associates Inc. MD now owns 6,270,464 shares of the company’s stock valued at $78,694,000 after buying an additional 1,365,453 shares in the last quarter. 86.48% of the stock is owned by institutional investors and hedge funds.
About Mueller Water Products
Mueller Water Products, Inc, is a manufacturer and marketer of products and services used in the transmission, distribution and measurement of water. The Company’s product portfolio includes engineered valves, fire hydrants, metering products and systems, leak detection and pipe condition assessment, which are used by municipalities, and residential and non-residential construction industries.
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