Mueller Water Products (NYSE:MWA) Reaches New 12-Month High Following Strong Earnings

Mueller Water Products, Inc. (NYSE:MWA)’s stock price reached a new 52-week high during mid-day trading on Tuesday following a stronger than expected earnings report. The stock traded as high as $18.99 and last traded at $18.25, with a volume of 546509 shares trading hands. The stock had previously closed at $16.55.

The industrial products company reported $0.30 earnings per share for the quarter, topping analysts’ consensus estimates of $0.15 by $0.15. Mueller Water Products had a net margin of 6.35% and a return on equity of 13.86%. The business had revenue of $353.40 million for the quarter, compared to analyst estimates of $299.62 million. During the same period last year, the company posted $0.14 EPS. The business’s revenue was up 6.2% on a year-over-year basis.

Mueller Water Products Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, May 20th. Stockholders of record on Friday, May 10th will be issued a dividend of $0.064 per share. The ex-dividend date of this dividend is Thursday, May 9th. This represents a $0.26 annualized dividend and a dividend yield of 1.42%. Mueller Water Products’s dividend payout ratio is presently 52.00%.

Wall Street Analyst Weigh In

MWA has been the subject of several analyst reports. Royal Bank of Canada increased their price target on shares of Mueller Water Products from $14.00 to $15.00 and gave the company a “sector perform” rating in a research note on Monday, February 12th. Oppenheimer upgraded Mueller Water Products from a “market perform” rating to an “outperform” rating and set a $19.00 price target on the stock in a research note on Thursday, April 18th. StockNews.com downgraded Mueller Water Products from a “buy” rating to a “hold” rating in a report on Wednesday, May 1st. Finally, The Goldman Sachs Group raised their target price on Mueller Water Products from $15.00 to $17.00 and gave the company a “neutral” rating in a report on Tuesday, February 13th. Five research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, Mueller Water Products currently has an average rating of “Hold” and a consensus target price of $17.00.

Insider Activity

In other news, CAO Suzanne G. Smith sold 2,800 shares of the business’s stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $15.09, for a total transaction of $42,252.00. Following the completion of the sale, the chief accounting officer now owns 3,208 shares in the company, valued at approximately $48,408.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other Mueller Water Products news, Director Arsdell Stephen C. Van acquired 10,000 shares of the stock in a transaction on Friday, March 1st. The shares were bought at an average cost of $15.42 per share, with a total value of $154,200.00. Following the transaction, the director now owns 80,603 shares of the company’s stock, valued at approximately $1,242,898.26. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Suzanne G. Smith sold 2,800 shares of the company’s stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $15.09, for a total transaction of $42,252.00. Following the completion of 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. Over the last three months, insiders have sold 69,458 shares of company stock worth $1,052,260. Corporate insiders own 1.40% of the company’s stock.

Hedge Funds Weigh In On Mueller Water Products

Several institutional investors have recently added to or reduced their stakes in MWA. Donoghue Forlines LLC acquired a new stake in Mueller Water Products during the 1st quarter worth approximately $321,000. Quantbot Technologies LP purchased a new stake in shares of Mueller Water Products during the first quarter worth approximately $452,000. Duality Advisers LP acquired a new stake in shares of Mueller Water Products during the first quarter worth $608,000. Central Pacific Bank Trust Division purchased a new position in Mueller Water Products in the 1st quarter valued at $408,000. Finally, Daiwa Securities Group Inc. acquired a new position in Mueller Water Products in the 1st quarter valued at $46,000. Institutional investors and hedge funds own 91.68% of the company’s stock.

Mueller Water Products Stock Performance

The company has a market cap of $2.81 billion, a PE ratio of 36.02, a P/E/G ratio of 1.97 and a beta of 1.33. The stock’s 50-day simple moving average is $15.75 and its 200 day simple moving average is $14.54. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.89 and a current ratio of 3.29.

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.