Q1 2024 EPS Estimates for Mueller Water Products, Inc. (NYSE:MWA) Boosted by Seaport Res Ptn

Mueller Water Products, Inc. (NYSE:MWA – Get Rating) – Investment analysts at Seaport Res Ptn lifted their Q1 2024 earnings per share (EPS) estimates for shares of Mueller Water Products in a report released on Monday, May 22nd. Seaport Res Ptn analyst W. Liptak now forecasts that the industrial products company will earn $0.16 per share for the quarter, up from their previous forecast of $0.13. Seaport Res Ptn has a “Buy” rating on the stock. The consensus estimate for Mueller Water Products’ current full-year earnings is $0.67 per share. Seaport Res Ptn also issued estimates for Mueller Water Products’ FY2024 earnings at $0.79 EPS.

Mueller Water Products (NYSE:MWA – Get Rating) last released its quarterly earnings results on Monday, May 8th. The industrial products company reported $0.14 EPS for the quarter, missing the consensus estimate of $0.16 by ($0.02). Mueller Water Products had a return on equity of 12.69% and a net margin of 5.90%. The company had revenue of $332.90 million for the quarter, compared to analysts’ expectations of $332.45 million. During the same quarter last year, the company earned $0.15 EPS. Mueller Water Products’s revenue for the quarter was up 7.2% compared to the same quarter last year.

Other research analysts have also recently issued reports about the stock. StockNews.com initiated coverage on shares of Mueller Water Products in a report on Thursday, May 18th. They set a “hold” rating for the company. TD Cowen raised Mueller Water Products from a “market perform” rating to an “outperform” rating and raised their price target for the company from $11.00 to $19.00 in a report on Friday, May 5th. The Goldman Sachs Group upped their price objective on Mueller Water Products from $11.00 to $13.00 and gave the stock a “neutral” rating in a report on Monday, February 6th. DA Davidson reissued a “neutral” rating on shares of Mueller Water Products in a report on Wednesday, May 10th. Finally, Royal Bank of Canada upped their price target on shares of Mueller Water Products from $11.00 to $13.00 and gave the stock a “sector perform” rating in a research note on Monday, February 6th. Five investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, Mueller Water Products presently has an average rating of “Hold” and an average target price of $13.57.

Mueller Water Products Stock Up 0.7 %

Shares of Mueller Water Products stock opened at $13.94 on Tuesday. Mueller Water Products has a one year low of $9.90 and a one year high of $14.98. The company has a market cap of $2.18 billion, a P/E ratio of 27.88, a PEG ratio of 1.71 and a beta of 1.30. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.82 and a current ratio of 3.50. The firm has a fifty day moving average of $13.50 and a two-hundred day moving average of $12.65.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Brown Advisory Inc. increased its holdings in Mueller Water Products by 148.0% during the 1st quarter. Brown Advisory Inc. now owns 6,320,677 shares of the industrial products company’s stock valued at $88,110,000 after acquiring an additional 3,772,093 shares in the last quarter. Nuance Investments LLC grew its position in shares of Mueller Water Products by 20.9% in the fourth quarter. Nuance Investments LLC now owns 13,817,036 shares of the industrial products company’s stock valued at $148,671,000 after purchasing an additional 2,388,219 shares during the last quarter. PGGM Investments purchased a new position in shares of Mueller Water Products during the 3rd quarter worth approximately $18,716,000. Norges Bank acquired a new position in shares of Mueller Water Products during the 4th quarter worth approximately $17,097,000. Finally, Impax Asset Management Group plc lifted its stake in Mueller Water Products by 10.2% in the 4th quarter. Impax Asset Management Group plc now owns 14,645,826 shares of the industrial products company’s stock valued at $157,589,000 after buying an additional 1,356,570 shares in the last quarter. Institutional investors and hedge funds own 88.75% of the company’s stock.

Mueller Water Products Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, May 22nd. Stockholders of record on Wednesday, May 10th were given a $0.061 dividend. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.75%. The ex-dividend date of this dividend was Tuesday, May 9th. Mueller Water Products’s dividend payout ratio is currently 48.00%.

About Mueller Water Products

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Mueller Water Products, Inc engages in the manufacture and sale of products used in the transmission, distribution, and measurement of water. It operates through the Water Flow Solutions and Water Management Solutions segments. The Water Flow Solutions segment includes iron gate valves, specialty valves, and service brass products.