Mueller Water Products (NYSE:MWA) Releases Quarterly Earnings Results, Beats Expectations By $0.15 EPS

Mueller Water Products (NYSE:MWA) released its quarterly earnings results on Monday. The industrial products company reported $0.30 EPS for the quarter, beating the consensus estimate of $0.15 by $0.15, Briefing.com reports. Mueller Water Products had a net margin of 6.35% and a return on equity of 13.86%. The business had revenue of $353.40 million for the quarter, compared to analysts’ expectations of $299.62 million. During the same period in the prior year, the firm earned $0.14 earnings per share. Mueller Water Products’s revenue was up 6.2% compared to the same quarter last year. Mueller Water Products updated its FY 2024 guidance to EPS.

Mueller Water Products Trading Up 8.8 %

Shares of NYSE:MWA opened at $18.01 on Wednesday. Mueller Water Products has a 12 month low of $12.11 and a 12 month high of $18.99. The company has a quick ratio of 1.89, a current ratio of 3.29 and a debt-to-equity ratio of 0.61. The company’s fifty day simple moving average is $15.75 and its 200 day simple moving average is $14.54. The firm has a market cap of $2.81 billion, a price-to-earnings ratio of 36.02, a PEG ratio of 1.97 and a beta of 1.33.

Mueller Water Products Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, May 20th. Investors of record on Friday, May 10th will be issued a dividend of $0.064 per share. The ex-dividend date of this dividend is Thursday, May 9th. This represents a $0.26 dividend on an annualized basis and a dividend yield of 1.42%. Mueller Water Products’s payout ratio is 52.00%.

Insider Buying and Selling

In other Mueller Water Products news, CAO Suzanne G. Smith sold 2,800 shares of Mueller Water Products stock in a transaction on Tuesday, February 13th. The shares were sold at an average price of $15.09, for a total value of $42,252.00. Following the sale, the chief accounting officer now directly owns 3,208 shares in the company, valued at approximately $48,408.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Mueller Water Products news, CAO Suzanne G. Smith sold 2,800 shares of Mueller Water Products stock in a transaction on Tuesday, February 13th. The shares were sold at an average price of $15.09, for a total value of $42,252.00. Following the sale, the chief accounting officer now directly owns 3,208 shares in the company, valued at approximately $48,408.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Arsdell Stephen C. Van purchased 10,000 shares of the stock in a transaction on Friday, March 1st. The stock was acquired at an average price of $15.42 per share, for a total transaction of $154,200.00. Following the completion of the purchase, the director now directly owns 80,603 shares in the company, valued at approximately $1,242,898.26. The disclosure for this purchase can be found here. Insiders have sold a total of 69,458 shares of company stock worth $1,052,260 over the last ninety days. Company insiders own 1.40% of the company’s stock.

Wall Street Analysts Forecast Growth

MWA has been the topic of several research analyst reports. StockNews.com cut shares of Mueller Water Products from a “buy” rating to a “hold” rating in a research note on Wednesday, May 1st. Oppenheimer raised shares of Mueller Water Products from a “market perform” rating to an “outperform” rating and set a $19.00 price target on the stock in a research note on Thursday, April 18th. The Goldman Sachs Group raised their price objective on shares of Mueller Water Products from $15.00 to $17.00 and gave the company a “neutral” rating in a research note on Tuesday, February 13th. Finally, Royal Bank of Canada raised their price objective on shares of Mueller Water Products from $14.00 to $15.00 and gave the company a “sector perform” rating in a research note on Monday, February 12th. Five analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $17.00.

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.