Other equities analysts have also issued reports about the company. Royal Bank of Canada reaffirmed a buy rating and set a $15.00 target price on shares of Mueller Water Products in a report on Tuesday, March 14th. Zacks Investment Research raised Mueller Water Products from a hold rating to a buy rating and set a $13.00 target price for the company in a report on Tuesday, April 11th. Goldman Sachs Group Inc began coverage on Mueller Water Products in a report on Wednesday, March 8th. They set a buy rating and a $15.00 target price for the company. CIBC reaffirmed an outperform rating and set a $15.00 target price on shares of Mueller Water Products in a report on Friday, March 24th. Finally, Nomura started coverage on Mueller Water Products in a report on Wednesday, April 12th. They issued a buy rating and a $15.00 price objective for the company. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The company presently has an average rating of Buy and a consensus target price of $13.71.
Shares of Mueller Water Products (NYSE:MWA) traded up 2.35% during midday trading on Tuesday, hitting $11.32. The stock had a trading volume of 961,957 shares. The stock has a market cap of $1.81 billion, a PE ratio of 15.28 and a beta of 1.35. The firm has a 50 day moving average price of $11.61 and a 200 day moving average price of $12.55. Mueller Water Products has a one year low of $10.33 and a one year high of $14.20.
Mueller Water Products (NYSE:MWA) last announced its quarterly earnings data on Thursday, April 27th. The industrial products company reported $0.09 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.09. Mueller Water Products had a return on equity of 19.52% and a net margin of 6.06%. The firm had revenue of $199.70 million for the quarter, compared to analysts’ expectations of $206 million. During the same quarter in the prior year, the firm posted $0.10 earnings per share. Mueller Water Products’s revenue for the quarter was up 1.3% compared to the same quarter last year. On average, equities analysts forecast that Mueller Water Products will post $0.45 earnings per share for the current fiscal year.
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The firm also recently announced a quarterly dividend, which will be paid on Monday, May 22nd. Stockholders of record on Wednesday, May 10th will be issued a $0.04 dividend. The ex-dividend date is Monday, May 8th. This represents a $0.16 dividend on an annualized basis and a dividend yield of 1.45%. Mueller Water Products’s payout ratio is currently 41.03%.
Several hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. raised its stake in Mueller Water Products by 14,036.8% in the first quarter. BlackRock Inc. now owns 13,522,561 shares of the industrial products company’s stock worth $159,837,000 after buying an additional 13,426,906 shares during the last quarter. Norges Bank acquired a new stake in Mueller Water Products during the fourth quarter worth about $51,312,000. Gamco Investors INC. ET AL raised its stake in Mueller Water Products by 273.5% in the first quarter. Gamco Investors INC. ET AL now owns 5,103,980 shares of the industrial products company’s stock worth $60,329,000 after buying an additional 3,737,574 shares during the last quarter. Franklin Resources Inc. raised its stake in Mueller Water Products by 41.0% in the fourth quarter. Franklin Resources Inc. now owns 6,044,820 shares of the industrial products company’s stock worth $80,457,000 after buying an additional 1,759,100 shares during the last quarter. Finally, Vanguard Group Inc. raised its stake in Mueller Water Products by 8.8% in the first quarter. Vanguard Group Inc. now owns 12,650,343 shares of the industrial products company’s stock worth $149,528,000 after buying an additional 1,017,949 shares during the last quarter. Institutional investors own 84.26% of the company’s stock.
About Mueller Water Products
Mueller Water Products, Inc is a manufacturer and marketer of products and services used in the transmission, distribution and measurement of water in North America. The Company operates through three segments: Mueller Co, Anvil and Mueller Technologies. The Mueller Co segment manufactures valves for water and gas systems, and dry-barrel and wet-barrel fire hydrants.
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