Mueller Water Products, Inc. (NYSE:MWA) – Research analysts at Boenning Scattergood upped their Q2 2019 earnings per share estimates for Mueller Water Products in a report released on Tuesday, November 6th. Boenning Scattergood analyst R. Connors now anticipates that the industrial products company will earn $0.16 per share for the quarter, up from their previous forecast of $0.13. Boenning Scattergood also issued estimates for Mueller Water Products’ FY2019 earnings at $0.60 EPS.

Several other brokerages have also commented on MWA. Oppenheimer reaffirmed a “buy” rating and issued a $14.00 price objective on shares of Mueller Water Products in a research report on Monday, August 6th. Zacks Investment Research raised shares of Mueller Water Products from a “sell” rating to a “hold” rating in a research report on Wednesday, September 26th. Nomura lowered their price objective on shares of Mueller Water Products from $15.00 to $14.00 and set a “buy” rating on the stock in a research report on Wednesday, September 12th. Finally, Seaport Global Securities lowered shares of Mueller Water Products from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $15.00 to $12.50 in a research report on Wednesday, August 8th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and three have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $13.36.

Shares of MWA stock opened at $11.28 on Friday. The stock has a market capitalization of $1.85 billion, a price-to-earnings ratio of 21.28, a P/E/G ratio of 1.23 and a beta of 1.10. The company has a debt-to-equity ratio of 0.83, a quick ratio of 3.91 and a current ratio of 5.13. Mueller Water Products has a 52 week low of $9.59 and a 52 week high of $12.96.

Mueller Water Products (NYSE:MWA) last announced its quarterly earnings data on Monday, November 5th. The industrial products company reported $0.17 EPS for the quarter, hitting the consensus estimate of $0.17. The business had revenue of $254.30 million for the quarter, compared to analyst estimates of $239.79 million. Mueller Water Products had a net margin of 11.53% and a return on equity of 15.84%. The company’s revenue for the quarter was up 12.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.15 earnings per share.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, November 20th. Stockholders of record on Friday, November 9th will be given a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 1.77%. The ex-dividend date is Thursday, November 8th. Mueller Water Products’s dividend payout ratio (DPR) is currently 37.74%.

Several hedge funds and other institutional investors have recently bought and sold shares of MWA. Brown Advisory Inc. bought a new stake in shares of Mueller Water Products in the second quarter valued at approximately $24,053,000. Millennium Management LLC raised its position in shares of Mueller Water Products by 143.7% in the second quarter. Millennium Management LLC now owns 1,711,236 shares of the industrial products company’s stock valued at $20,056,000 after purchasing an additional 1,008,978 shares during the period. BlackRock Inc. raised its position in shares of Mueller Water Products by 7.8% in the second quarter. BlackRock Inc. now owns 10,897,164 shares of the industrial products company’s stock valued at $127,714,000 after purchasing an additional 786,122 shares during the period. Russell Investments Group Ltd. raised its position in shares of Mueller Water Products by 64.5% in the second quarter. Russell Investments Group Ltd. now owns 993,567 shares of the industrial products company’s stock valued at $11,642,000 after purchasing an additional 389,432 shares during the period. Finally, First Trust Advisors LP raised its position in shares of Mueller Water Products by 23.0% in the second quarter. First Trust Advisors LP now owns 1,475,081 shares of the industrial products company’s stock valued at $17,288,000 after purchasing an additional 275,430 shares during the period. 86.34% of the stock is currently owned by institutional investors.

About Mueller Water Products

Mueller Water Products, Inc manufactures and markets products and services for use in the transmission, distribution, and measurement of water in the United States, Canada, and internationally. It operates through Infrastructure and Technologies segments. The Infrastructure segment offers valves for water and gas systems, including iron gate, butterfly, tapping, check, knife, plug, automatic control, and ball valves; dry-barrel and wet-barrel fire hydrants; pipe repair products, such as clamps and couplings used to repair leaks under the Mueller and Jones brand names; small valves, meter bars, and line stopper fittings for use in gas systems; and machines and tools for tapping, drilling, extracting, installing, and stopping-off.

Further Reading: Technical Analysis

Earnings History and Estimates for Mueller Water Products (NYSE:MWA)

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