Mueller Water Products (NYSE:MWA) posted its quarterly earnings results on Monday. The industrial products company reported $0.17 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.17, Briefing.com reports. The business had revenue of $254.30 million during the quarter, compared to analyst estimates of $239.79 million. Mueller Water Products had a net margin of 11.24% and a return on equity of 15.67%. The firm’s revenue was up 12.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.15 earnings per share.
NYSE:MWA traded up $0.57 during mid-day trading on Tuesday, reaching $11.40. The stock had a trading volume of 2,684,163 shares, compared to its average volume of 928,074. Mueller Water Products has a fifty-two week low of $9.59 and a fifty-two week high of $12.96. The company has a market capitalization of $1.68 billion, a P/E ratio of 25.91, a P/E/G ratio of 1.10 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.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 20th. Investors of record on Friday, November 9th will be issued a $0.05 dividend. The ex-dividend date of this dividend is Thursday, November 8th. This represents a $0.20 dividend on an annualized basis and a yield of 1.75%. Mueller Water Products’s dividend payout ratio is currently 45.45%.
A number of analysts have recently issued reports on the stock. Berenberg Bank assumed coverage on shares of Mueller Water Products in a research report on Wednesday, October 3rd. They issued a “buy” rating and a $15.00 price target for the company. DA Davidson reissued a “neutral” rating on shares of Mueller Water Products in a research report on Friday, July 20th. Zacks Investment Research raised shares of Mueller Water Products from a “sell” rating to a “hold” rating in a research report on Wednesday, October 10th. Oppenheimer reissued a “buy” rating on shares of Mueller Water Products in a research report on Monday. Finally, Seaport Global Securities lowered shares of Mueller Water Products from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $15.00 to $12.50 in a research report on Wednesday, August 8th. One analyst has rated the stock with a sell rating, six have issued a hold rating and three have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $13.36.
Large investors have recently added to or reduced their stakes in the stock. Los Angeles Capital Management & Equity Research Inc. acquired a new position in Mueller Water Products during the third quarter valued at approximately $1,593,000. Teton Advisors Inc. grew its holdings in Mueller Water Products by 6.1% during the third quarter. Teton Advisors Inc. now owns 112,700 shares of the industrial products company’s stock valued at $1,297,000 after purchasing an additional 6,500 shares during the last quarter. Insight 2811 Inc. grew its holdings in Mueller Water Products by 7.0% during the third quarter. Insight 2811 Inc. now owns 73,351 shares of the industrial products company’s stock valued at $844,000 after purchasing an additional 4,789 shares during the last quarter. Comerica Bank grew its holdings in Mueller Water Products by 2.0% during the third quarter. Comerica Bank now owns 245,587 shares of the industrial products company’s stock valued at $2,569,000 after purchasing an additional 4,781 shares during the last quarter. Finally, Victory Capital Management Inc. grew its holdings in Mueller Water Products by 126.1% during the third quarter. Victory Capital Management Inc. now owns 90,286 shares of the industrial products company’s stock valued at $1,039,000 after purchasing an additional 50,360 shares during the last quarter. Hedge funds and other institutional investors own 86.34% of the company’s stock.
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Mueller Water Products Company Profile
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.
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