Mueller Water Products (NYSE:MWA) Hits New 52-Week High at $22.11

Mueller Water Products, Inc. (NYSE:MWA)’s stock price reached a new 52-week high on Monday . The stock traded as high as $22.11 and last traded at $22.11, with a volume of 100 shares changing hands. The stock had previously closed at $21.06.

Wall Street Analysts Forecast Growth

MWA has been the topic of a number of research analyst reports. Oppenheimer upped their target price on shares of Mueller Water Products from $22.00 to $24.00 and gave the company an “outperform” rating in a report on Wednesday, August 7th. TD Cowen cut Mueller Water Products from a “buy” rating to a “hold” rating and boosted their price objective for the stock from $19.00 to $20.00 in a report on Friday, August 9th. StockNews.com raised Mueller Water Products from a “buy” rating to a “strong-buy” rating in a report on Monday, September 9th. Finally, Royal Bank of Canada increased their price objective on Mueller Water Products from $20.00 to $23.00 and gave the stock a “sector perform” rating in a research report on Wednesday, August 7th. Five analysts have rated the stock with a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Mueller Water Products currently has a consensus rating of “Hold” and a consensus price target of $21.60.

Mueller Water Products Trading Up 0.9 %

The company has a debt-to-equity ratio of 0.57, a quick ratio of 2.31 and a current ratio of 3.70. The company has a market capitalization of $3.31 billion, a price-to-earnings ratio of 32.91, a price-to-earnings-growth ratio of 1.41 and a beta of 1.34. The firm has a fifty day moving average price of $20.31 and a 200-day moving average price of $18.22.

Mueller Water Products (NYSE:MWA) last issued its quarterly earnings results on Monday, August 5th. The industrial products company reported $0.32 EPS for the quarter, beating analysts’ consensus estimates of $0.22 by $0.10. Mueller Water Products had a net margin of 9.71% and a return on equity of 19.46%. The business had revenue of $356.70 million for the quarter, compared to analysts’ expectations of $329.67 million. During the same quarter in the prior year, the firm posted $0.18 earnings per share. The business’s quarterly revenue was up 9.2% compared to the same quarter last year. As a group, equities analysts anticipate that Mueller Water Products, Inc. will post 0.93 EPS for the current year.

Mueller Water Products Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, August 20th. Shareholders of record on Friday, August 9th were given a dividend of $0.064 per share. The ex-dividend date of this dividend was Friday, August 9th. This represents a $0.26 annualized dividend and a dividend yield of 1.21%. Mueller Water Products’s dividend payout ratio is currently 39.06%.

Insider Transactions at Mueller Water Products

In other Mueller Water Products news, Director Thomas J. Hansen sold 10,791 shares of the business’s stock in a transaction on Monday, August 19th. The shares were sold at an average price of $20.55, for a total transaction of $221,755.05. Following the sale, the director now owns 102,792 shares of the company’s stock, valued at approximately $2,112,375.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Director Thomas J. Hansen sold 10,791 shares of the firm’s stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $20.55, for a total value of $221,755.05. Following the sale, the director now directly owns 102,792 shares of the company’s stock, valued at $2,112,375.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Christine Ortiz sold 8,800 shares of the firm’s stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $19.94, for a total value of $175,472.00. Following the transaction, the director now directly owns 34,699 shares in the company, valued at $691,898.06. The disclosure for this sale can be found here. Insiders have sold 256,869 shares of company stock worth $5,141,842 in the last ninety days. Company insiders own 1.40% of the company’s stock.

Institutional Investors Weigh In On Mueller Water Products

Several large investors have recently bought and sold shares of the business. Pingora Partners LLC bought a new stake in Mueller Water Products during the fourth quarter valued at about $29,000. Daiwa Securities Group Inc. purchased a new position in shares of Mueller Water Products in the first quarter worth about $46,000. Allspring Global Investments Holdings LLC purchased a new stake in Mueller Water Products in the 2nd quarter worth approximately $72,000. Register Financial Advisors LLC acquired a new position in shares of Mueller Water Products during the 1st quarter worth approximately $80,000. Finally, National Bank of Canada FI boosted its stake in shares of 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 worth $83,000 after acquiring an additional 1,457 shares during the last quarter. 91.68% of the stock is currently owned by institutional investors.

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.