Brokerages Set Mueller Water Products, Inc. (NYSE:MWA) Price Target at $22.20

Shares of Mueller Water Products, Inc. (NYSE:MWA) have been given an average rating of “Hold” by the six research firms that are presently covering the stock, MarketBeat Ratings reports. Five investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $22.20.

Several analysts recently weighed in on the company. StockNews.com downgraded Mueller Water Products from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, October 30th. Oppenheimer reissued an “outperform” rating and issued a $27.00 price objective (up from $26.00) on shares of Mueller Water Products in a research report on Friday, November 8th.

Insider Activity

In other Mueller Water Products news, CAO Suzanne G. Smith sold 26,138 shares of the firm’s stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $24.99, for a total transaction of $653,188.62. Following the completion of the transaction, the chief accounting officer now owns 9,378 shares in the company, valued at $234,356.22. This trade represents a 73.59 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Todd P. Helms sold 57,948 shares of the company’s stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $25.69, for a total value of $1,488,684.12. Following the completion of the sale, the senior vice president now owns 43,224 shares in the company, valued at approximately $1,110,424.56. This represents a 57.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 98,433 shares of company stock worth $2,494,144. Company insiders own 1.40% of the company’s stock.

Institutional Trading of Mueller Water Products

Several institutional investors have recently bought and sold shares of the stock. V Square Quantitative Management LLC bought a new position in shares of Mueller Water Products during the third quarter valued at $26,000. Allspring Global Investments Holdings LLC bought a new position in Mueller Water Products during the 2nd quarter valued at about $72,000. National Bank of Canada FI boosted its position in Mueller Water Products by 44.2% in the second quarter. National Bank of Canada FI now owns 4,757 shares of the industrial products company’s stock valued at $83,000 after buying an additional 1,457 shares in the last quarter. Quarry LP grew its stake in Mueller Water Products by 341.0% during the second quarter. Quarry LP now owns 5,632 shares of the industrial products company’s stock worth $101,000 after buying an additional 4,355 shares during the last quarter. Finally, Blue Trust Inc. increased its holdings in shares of Mueller Water Products by 434.6% during the third quarter. Blue Trust Inc. now owns 4,892 shares of the industrial products company’s stock worth $106,000 after buying an additional 3,977 shares in the last quarter. Institutional investors and hedge funds own 91.68% of the company’s stock.

Mueller Water Products Trading Down 0.9 %

NYSE:MWA opened at $24.30 on Thursday. The company’s 50 day moving average is $23.76 and its 200-day moving average is $21.04. The company has a quick ratio of 2.16, a current ratio of 3.33 and a debt-to-equity ratio of 0.55. Mueller Water Products has a 12 month low of $13.49 and a 12 month high of $26.28. The firm has a market cap of $3.80 billion, a price-to-earnings ratio of 33.29, a P/E/G ratio of 1.41 and a beta of 1.37.

Mueller Water Products (NYSE:MWA) last announced its earnings results on Wednesday, November 6th. The industrial products company reported $0.22 EPS for the quarter, hitting the consensus estimate of $0.22. Mueller Water Products had a net margin of 8.82% and a return on equity of 19.38%. The firm had revenue of $348.20 million for the quarter, compared to the consensus estimate of $324.80 million. During the same quarter last year, the firm posted $0.19 EPS. The business’s quarterly revenue was up 15.5% on a year-over-year basis. Equities analysts anticipate that Mueller Water Products will post 1.17 EPS for the current year.

Mueller Water Products Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 20th. Stockholders of record on Friday, November 8th were issued a dividend of $0.067 per share. This represents a $0.27 annualized dividend and a dividend yield of 1.10%. The ex-dividend date was Friday, November 8th. This is a positive change from Mueller Water Products’s previous quarterly dividend of $0.06. Mueller Water Products’s dividend payout ratio (DPR) is presently 36.99%.

About Mueller Water Products

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.