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 recommendation of “Hold” by the six analysts that are presently covering the stock, Marketbeat.com reports. Five analysts have rated the stock with a hold recommendation and one has issued a buy recommendation on the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $22.20.

Several brokerages have weighed in on MWA. StockNews.com cut Mueller Water Products from a “strong-buy” rating to a “buy” rating in a report on Wednesday, October 30th. Royal Bank of Canada lifted their target price on shares of Mueller Water Products from $20.00 to $23.00 and gave the stock a “sector perform” rating in a report on Wednesday, August 7th. TD Cowen downgraded Mueller Water Products from a “buy” rating to a “hold” rating and increased their price target for the company from $19.00 to $20.00 in a research note on Friday, August 9th. Finally, Oppenheimer reaffirmed an “outperform” rating and set a $27.00 price objective (up from $26.00) on shares of Mueller Water Products in a research note on Friday, November 8th.

Insiders Place Their Bets

In other news, Director Lydia W. Thomas sold 10,791 shares of the stock in a transaction on Monday, November 18th. The shares were sold at an average price of $24.40, for a total transaction of $263,300.40. Following the completion of the sale, the director now owns 136,405 shares of the company’s stock, valued at $3,328,282. This represents a 7.33 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 1.40% of the company’s stock.

Hedge Funds Weigh In On Mueller Water Products

Large investors have recently added to or reduced their stakes in the company. Pinnacle Associates Ltd. increased its stake in Mueller Water Products by 0.3% in the 3rd quarter. Pinnacle Associates Ltd. now owns 162,750 shares of the industrial products company’s stock valued at $3,532,000 after buying an additional 500 shares during the last quarter. Diversified Trust Co raised its holdings in Mueller Water Products by 3.1% during the third quarter. Diversified Trust Co now owns 19,936 shares of the industrial products company’s stock worth $433,000 after acquiring an additional 607 shares in the last quarter. Point72 Hong Kong Ltd boosted its position in Mueller Water Products by 6.1% during the third quarter. Point72 Hong Kong Ltd now owns 11,022 shares of the industrial products company’s stock valued at $239,000 after purchasing an additional 633 shares during the last quarter. Arizona State Retirement System grew its stake in Mueller Water Products by 1.9% in the second quarter. Arizona State Retirement System now owns 43,722 shares of the industrial products company’s stock valued at $783,000 after purchasing an additional 819 shares in the last quarter. Finally, V Square Quantitative Management LLC acquired a new position in shares of Mueller Water Products during the 3rd quarter worth approximately $26,000. Institutional investors own 91.68% of the company’s stock.

Mueller Water Products Trading Up 0.6 %

MWA opened at $24.97 on Friday. Mueller Water Products has a 1-year low of $13.08 and a 1-year high of $26.28. The stock has a market capitalization of $3.89 billion, a PE ratio of 34.21, a PEG ratio of 1.39 and a beta of 1.34. The company has a current ratio of 3.70, a quick ratio of 2.31 and a debt-to-equity ratio of 0.57. The firm has a 50-day moving average price of $22.39 and a two-hundred day moving average price of $20.30.

Mueller Water Products (NYSE:MWA) last posted its quarterly earnings data on Wednesday, November 6th. The industrial products company reported $0.22 earnings per share for the quarter, hitting the consensus estimate of $0.22. The firm had revenue of $348.20 million during the quarter, compared to analysts’ expectations of $324.80 million. Mueller Water Products had a net margin of 8.82% and a return on equity of 19.71%. Mueller Water Products’s revenue was up 15.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.19 EPS. As a group, equities analysts anticipate that Mueller Water Products will post 1.17 earnings per share for the current fiscal year.

Mueller Water Products Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 20th. Investors of record on Friday, November 8th were given a $0.067 dividend. The ex-dividend date of this dividend was Friday, November 8th. This is a positive change from Mueller Water Products’s previous quarterly dividend of $0.06. This represents a $0.27 annualized dividend and a dividend yield of 1.07%. Mueller Water Products’s payout ratio is currently 36.99%.

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.