Seaport Global Securities Analysts Boost Earnings Estimates for Mueller Water Products (MWA)
Mueller Water Products (NYSE:MWA) – Analysts at Seaport Global Securities raised their Q4 2018 earnings per share estimates for shares of Mueller Water Products in a research note issued to investors on Tuesday. Seaport Global Securities analyst W. Liptak now expects that the industrial products company will post earnings per share of $0.19 for the quarter, up from their prior forecast of $0.18. Seaport Global Securities also issued estimates for Mueller Water Products’ Q1 2019 earnings at $0.09 EPS, Q2 2019 earnings at $0.11 EPS, Q3 2019 earnings at $0.22 EPS, Q4 2019 earnings at $0.21 EPS and FY2019 earnings at $0.62 EPS.
Mueller Water Products (NYSE:MWA) last posted its quarterly earnings data on Wednesday, November 1st. The industrial products company reported $0.15 earnings per share for the quarter, hitting the consensus estimate of $0.15. The company had revenue of $226.90 million during the quarter, compared to analysts’ expectations of $227.14 million. Mueller Water Products had a return on equity of 15.83% and a net margin of 14.93%. Mueller Water Products’s revenue for the quarter was up 5.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.17 earnings per share.
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Several other research firms have also issued reports on MWA. Robert W. Baird restated a “hold” rating and issued a $14.00 price objective on shares of Mueller Water Products in a research note on Wednesday, October 4th. Royal Bank Of Canada reiterated a “buy” rating and set a $14.00 target price on shares of Mueller Water Products in a research note on Wednesday, October 11th. Cowen and Company reiterated a “hold” rating and set a $12.00 target price on shares of Mueller Water Products in a research note on Thursday, September 21st. Boenning Scattergood upgraded Mueller Water Products from a “neutral” rating to an “outperform” rating and set a $14.00 target price on the stock in a research note on Tuesday, September 5th. Finally, Zacks Investment Research raised Mueller Water Products from a “sell” rating to a “hold” rating in a research report on Friday, August 4th. Four equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $13.75.
Mueller Water Products (NYSE:MWA) traded up $0.15 on Thursday, reaching $12.26. The company had a trading volume of 957,900 shares, compared to its average volume of 1,251,850. The company has a quick ratio of 4.63, a current ratio of 5.90 and a debt-to-equity ratio of 1.03. The company has a market capitalization of $1,940.00, a price-to-earnings ratio of 28.16, a PEG ratio of 1.53 and a beta of 1.32. Mueller Water Products has a fifty-two week low of $10.84 and a fifty-two week high of $14.20.
Institutional investors and hedge funds have recently made changes to their positions in the company. Belpointe Asset Management LLC bought a new position in shares of Mueller Water Products in the 3rd quarter valued at $131,000. Colony Group LLC bought a new position in shares of Mueller Water Products in the 2nd quarter valued at $135,000. GABELLI & Co INVESTMENT ADVISERS INC. bought a new position in shares of Mueller Water Products in the 2nd quarter valued at $140,000. HighTower Advisors LLC bought a new position in shares of Mueller Water Products in the 1st quarter valued at $143,000. Finally, Boothbay Fund Management LLC bought a new position in shares of Mueller Water Products in the 3rd quarter valued at $158,000. Institutional investors own 84.04% of the company’s stock.
In other Mueller Water Products news, CFO Evan Hart sold 50,000 shares of the firm’s stock in a transaction on Wednesday, November 8th. The stock was sold at an average price of $12.10, for a total value of $605,000.00. Following the sale, the chief financial officer now owns 321,247 shares of the company’s stock, valued at approximately $3,887,088.70. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 4.30% of the company’s stock.
The business also recently declared a quarterly dividend, which was paid on Monday, November 20th. Investors of record on Friday, November 10th were given a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a yield of 1.31%. The ex-dividend date was Thursday, November 9th. Mueller Water Products’s dividend payout ratio is currently 47.06%.
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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