Mueller Water Products (NYSE:MWA) Releases Earnings Results, Beats Expectations By $0.15 EPS

Mueller Water Products (NYSE:MWA) posted its earnings results on Monday. The industrial products company reported $0.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.15 by $0.15, Briefing.com reports. Mueller Water Products had a net margin of 6.35% and a return on equity of 13.86%. The company had revenue of $353.40 million during the quarter, compared to analysts’ expectations of $299.62 million. During the same quarter last year, the company posted $0.14 EPS. Mueller Water Products’s quarterly revenue was up 6.2% compared to the same quarter last year. Mueller Water Products updated its FY 2024 guidance to EPS.

Mueller Water Products Trading Up 0.4 %

Shares of MWA stock traded up $0.08 during mid-day trading on Thursday, hitting $18.94. The company’s stock had a trading volume of 644,855 shares, compared to its average volume of 1,177,542. The company’s fifty day simple moving average is $15.82 and its 200-day simple moving average is $14.57. Mueller Water Products has a 52 week low of $12.11 and a 52 week high of $18.99. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.89 and a current ratio of 3.29. The company has a market cap of $2.96 billion, a PE ratio of 29.56, a P/E/G ratio of 1.97 and a beta of 1.33.

Mueller Water Products Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, May 20th. Stockholders of record on Friday, May 10th will be given a $0.064 dividend. This represents a $0.26 annualized dividend and a dividend yield of 1.35%. The ex-dividend date is Thursday, May 9th. Mueller Water Products’s dividend payout ratio (DPR) is presently 39.06%.

Analysts Set New Price Targets

Several equities analysts have commented on MWA shares. Oppenheimer raised shares of Mueller Water Products from a “market perform” rating to an “outperform” rating and set a $19.00 target price on the stock in a report on Thursday, April 18th. StockNews.com raised shares of Mueller Water Products from a “hold” rating to a “buy” rating in a report on Thursday. Royal Bank of Canada raised their target price on shares of Mueller Water Products from $17.00 to $20.00 and gave the company a “sector perform” rating in a report on Wednesday. The Goldman Sachs Group raised their target price on shares of Mueller Water Products from $15.00 to $17.00 and gave the company a “neutral” rating in a report on Tuesday, February 13th. Finally, Robert W. Baird raised their target price on shares of Mueller Water Products from $18.00 to $24.00 and gave the company a “neutral” rating in a report on Wednesday. Five analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $20.00.

Insider Transactions at Mueller Water Products

In related news, SVP Todd P. Helms sold 37,000 shares of the business’s stock in a transaction dated Tuesday, February 13th. The stock was sold at an average price of $15.15, for a total value of $560,550.00. Following the completion of the sale, the senior vice president now directly owns 41,181 shares of the company’s stock, valued at approximately $623,892.15. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Mueller Water Products news, SVP Todd P. Helms sold 37,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $15.15, for a total transaction of $560,550.00. Following the completion of the sale, the senior vice president now directly owns 41,181 shares of the company’s stock, valued at approximately $623,892.15. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Suzanne G. Smith sold 2,800 shares of the business’s stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $15.09, for a total value of $42,252.00. Following the sale, the chief accounting officer now directly owns 3,208 shares of the company’s stock, valued at $48,408.72. The disclosure for this sale can be found here. In the last ninety days, insiders sold 69,458 shares of company stock valued at $1,052,260. Corporate insiders own 1.40% of the company’s stock.

About Mueller Water Products

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.