Mueller Water Products (MWA) Stock Rating Lowered by BidaskClub
Mueller Water Products (NYSE:MWA) was downgraded by BidaskClub from a “buy” rating to a “hold” rating in a research note issued on Friday.
Other equities research analysts have also recently issued reports about the stock. Zacks Investment Research cut shares of Mueller Water Products from a “buy” rating to a “hold” rating in a report on Tuesday, May 2nd. Oppenheimer Holdings, Inc. restated an “outperform” rating and set a $13.00 price target (down from $15.00) on shares of Mueller Water Products in a report on Tuesday, May 2nd. Finally, CIBC decreased their price target on shares of Mueller Water Products from $15.00 to $13.00 and set an “outperform” rating for the company in a report on Wednesday, May 3rd. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Mueller Water Products presently has an average rating of “Buy” and a consensus target price of $14.00.
Shares of Mueller Water Products (NYSE:MWA) opened at 11.67 on Friday. The firm’s 50-day moving average price is $11.65 and its 200 day moving average price is $11.76. Mueller Water Products has a one year low of $10.45 and a one year high of $14.20. The stock has a market cap of $1.85 billion, a P/E ratio of 14.50 and a beta of 1.37.
Mueller Water Products (NYSE:MWA) last issued its quarterly earnings data on Thursday, August 3rd. The industrial products company reported $0.16 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.16. The firm had revenue of $232.20 million during the quarter, compared to analysts’ expectations of $235.07 million. Mueller Water Products had a net margin of 14.47% and a return on equity of 16.85%. Mueller Water Products’s revenue for the quarter was up 3.3% on a year-over-year basis. During the same period in the prior year, the company posted $0.15 earnings per share. Equities research analysts expect that Mueller Water Products will post $0.44 EPS for the current fiscal year.
In other news, Director Bernard G. Rethore sold 56,400 shares of the company’s stock in a transaction dated Tuesday, May 30th. The shares were sold at an average price of $11.23, for a total transaction of $633,372.00. Following the completion of the transaction, the director now owns 27,303 shares of the company’s stock, valued at $306,612.69. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Shirley C. Franklin sold 9,156 shares of the company’s stock in a transaction dated Wednesday, June 14th. The shares were sold at an average price of $11.40, for a total transaction of $104,378.40. Following the transaction, the director now directly owns 39,157 shares of the company’s stock, valued at approximately $446,389.80. The disclosure for this sale can be found here. 4.30% of the stock is currently owned by corporate insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. WFG Advisors LP raised its position in Mueller Water Products by 16.1% in the second quarter. WFG Advisors LP now owns 51,342 shares of the industrial products company’s stock valued at $600,000 after buying an additional 7,133 shares during the period. Colony Group LLC acquired a new position in Mueller Water Products during the second quarter valued at about $135,000. Koch Industries Inc. acquired a new position in Mueller Water Products during the second quarter valued at about $190,000. Robecosam AG acquired a new position in Mueller Water Products during the second quarter valued at about $4,357,000. Finally, Ameritas Investment Partners Inc. raised its position in Mueller Water Products by 2.0% in the second quarter. Ameritas Investment Partners Inc. now owns 13,730 shares of the industrial products company’s stock valued at $160,000 after buying an additional 266 shares during the period. 89.13% 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 in North America. The Company operates through three segments: Mueller Co, Anvil and Mueller Technologies. The Mueller Co segment manufactures valves for water and gas systems, and dry-barrel and wet-barrel fire hydrants.
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