Mueller Water Products, Inc. (MWA) Earns Buy Rating from CIBC

CIBC reaffirmed their buy rating on shares of Mueller Water Products, Inc. (NYSE:MWA) in a report issued on Wednesday, May 10th.

MWA has been the topic of a number of other reports. Royal Bank of Canada reiterated a buy rating and issued a $15.00 target price on shares of Mueller Water Products in a research note on Tuesday, March 14th. Zacks Investment Research upgraded Mueller Water Products from a hold rating to a buy rating and set a $13.00 target price on the stock in a research note on Tuesday, April 11th. Goldman Sachs Group Inc assumed coverage on Mueller Water Products in a research note on Wednesday, March 8th. They issued a buy rating and a $15.00 target price on the stock. Oppenheimer Holdings Inc. reissued a buy rating on shares of Mueller Water Products in a report on Tuesday, May 9th. Finally, Nomura assumed coverage on Mueller Water Products in a report on Wednesday, April 12th. They set a buy rating and a $15.00 price target on the stock. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The stock has an average rating of Buy and an average price target of $13.71.

Mueller Water Products (MWA) traded up 0.09% on Wednesday, hitting $11.35. 1,325,217 shares of the company traded hands. The stock’s 50-day moving average is $11.47 and its 200 day moving average is $12.51. The firm has a market capitalization of $1.81 billion, a P/E ratio of 15.32 and a beta of 1.35. Mueller Water Products has a 12 month low of $10.45 and a 12 month high of $14.20.

Mueller Water Products (NYSE:MWA) last posted its earnings results on Thursday, April 27th. The industrial products company reported $0.09 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.09. The company had revenue of $199.70 million for the quarter, compared to analysts’ expectations of $206 million. Mueller Water Products had a return on equity of 19.52% and a net margin of 6.06%. The firm’s quarterly revenue was up 1.3% compared to the same quarter last year. During the same period last year, the business posted $0.10 earnings per share. Equities analysts forecast that Mueller Water Products will post $0.45 EPS for the current fiscal year.

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The company also recently announced a quarterly dividend, which was paid on Monday, May 22nd. Investors of record on Wednesday, May 10th were issued a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a yield of 1.41%. The ex-dividend date of this dividend was Monday, May 8th. Mueller Water Products’s payout ratio is currently 41.03%.

In related news, Director Bernard G. Rethore sold 56,400 shares of Mueller Water Products stock in a transaction dated Tuesday, May 30th. The stock was sold at an average price of $11.23, for a total transaction of $633,372.00. Following the transaction, the director now directly owns 27,303 shares of the company’s stock, valued at $306,612.69. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 4.30% of the stock is owned by insiders.

Several institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. raised its position 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 period. Vanguard Group Inc. raised its position 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 period. Franklin Resources Inc. raised its position 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 period. Gamco Investors INC. ET AL raised its position 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 period. Finally, Silvercrest Asset Management Group LLC raised its position in Mueller Water Products by 11.0% in the fourth quarter. Silvercrest Asset Management Group LLC now owns 3,986,307 shares of the industrial products company’s stock worth $53,058,000 after buying an additional 396,140 shares during the period. Institutional investors and hedge funds 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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