Zacks Investment Research Downgrades Mueller Water Products (NYSE:MWA) to Hold

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Zacks Investment Research cut shares of Mueller Water Products (NYSE:MWA) from a buy rating to a hold rating in a research note published on Wednesday morning, Zacks.com reports.

According to Zacks, “Mueller Water Products, Inc. manufactures and markets products and services that are used in the transmission and distribution of safe, clean drinking water and in water treatment facilities. Their broad product portfolio includes engineered valves, fire hydrants, pipe fittings, water meters and ductile iron pipe, which are used by municipalities, as well as the residential and non-residential construction industries. “

MWA has been the subject of several other research reports. Boenning Scattergood raised shares of Mueller Water Products from a neutral rating to an outperform rating in a research report on Tuesday, August 6th. Goldman Sachs Group downgraded shares of Mueller Water Products from a neutral rating to a sell rating and reduced their price objective for the stock from $10.00 to $8.00 in a research report on Wednesday, June 26th. Seaport Global Securities set a $12.00 price objective on shares of Mueller Water Products and gave the stock a buy rating in a research report on Wednesday, August 7th. ValuEngine raised shares of Mueller Water Products from a sell rating to a hold rating in a research report on Friday, August 16th. Finally, TheStreet raised shares of Mueller Water Products from a c+ rating to a b- rating in a research report on Friday, September 13th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the stock. The company has a consensus rating of Hold and an average price target of $11.50.

Shares of MWA stock opened at $11.47 on Wednesday. The company has a market cap of $1.80 billion, a price-to-earnings ratio of 21.64, a price-to-earnings-growth ratio of 1.14 and a beta of 1.04. Mueller Water Products has a 52 week low of $8.47 and a 52 week high of $11.81. The company has a quick ratio of 2.00, a current ratio of 3.15 and a debt-to-equity ratio of 0.79. The firm has a 50 day moving average of $10.87 and a 200-day moving average of $10.19.

Mueller Water Products (NYSE:MWA) last announced its quarterly earnings data on Monday, August 5th. The industrial products company reported $0.24 EPS for the quarter, topping the consensus estimate of $0.20 by $0.04. The company had revenue of $274.30 million during the quarter, compared to the consensus estimate of $274.96 million. Mueller Water Products had a net margin of 5.09% and a return on equity of 17.10%. The company’s quarterly revenue was up 9.6% on a year-over-year basis. During the same quarter last year, the firm posted $0.19 EPS. Analysts anticipate that Mueller Water Products will post 0.63 earnings per share for the current year.

In related news, EVP Gregory Rogowski sold 85,839 shares of Mueller Water Products stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $10.06, for a total value of $863,540.34. Following the completion of the sale, the executive vice president now owns 425,473 shares of the company’s stock, valued at approximately $4,280,258.38. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Arsdell Stephen C. Van purchased 10,000 shares of Mueller Water Products stock in a transaction that occurred on Friday, August 9th. The stock was acquired at an average cost of $10.10 per share, with a total value of $101,000.00. Following the transaction, the director now owns 32,000 shares in the company, valued at approximately $323,200. The disclosure for this purchase can be found here. Company insiders own 1.70% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Resources Investment Advisors LLC. grew its position in Mueller Water Products by 224.2% in the 2nd quarter. Resources Investment Advisors LLC. now owns 5,350 shares of the industrial products company’s stock valued at $53,000 after purchasing an additional 3,700 shares during the period. Point72 Hong Kong Ltd acquired a new stake in Mueller Water Products in the 2nd quarter valued at $83,000. Fox Run Management L.L.C. acquired a new stake in Mueller Water Products in the 3rd quarter valued at $112,000. Belpointe Asset Management LLC acquired a new stake in Mueller Water Products in the 1st quarter valued at $102,000. Finally, Paloma Partners Management Co acquired a new stake in Mueller Water Products in the 2nd quarter valued at $103,000. 86.85% of the stock is owned by institutional investors and hedge funds.

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 in two segments, Infrastructure and Technologies. The Infrastructure segment offers valves for water and gas systems, including butterfly, iron gate, 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; and machines and tools for tapping, drilling, extracting, installing, and stopping-off.

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