Mueller Water Products Inc. (NYSE:MWA)’s share price hit a new 52-week high during trading on Wednesday . The stock traded as high as $12.38 and last traded at $12.28, with a volume of 407,798 shares trading hands. The stock had previously closed at $12.24.

Several equities analysts have recently commented on the stock. Zacks Investment Research downgraded shares of Mueller Water Products from a “buy” rating to a “hold” rating in a research note on Wednesday. DA Davidson increased their price target on shares of Mueller Water Products from $11.00 to $12.00 and gave the stock a “neutral” rating in a research note on Friday, August 5th. Boenning Scattergood downgraded shares of Mueller Water Products from an “outperform” rating to a “neutral” rating in a research note on Wednesday, July 13th. Oppenheimer Holdings Inc. reissued a “buy” rating and issued a $13.00 price target (up from $12.00) on shares of Mueller Water Products in a research note on Thursday, June 2nd. Finally, Sterne Agee CRT reissued a “neutral” rating on shares of Mueller Water Products in a research note on Monday, May 16th. Five equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Mueller Water Products presently has an average rating of “Buy” and a consensus target price of $12.25.

The firm has a 50 day moving average price of $11.51 and a 200 day moving average price of $10.19. The firm has a market cap of $1.98 billion and a price-to-earnings ratio of 33.068.

Mueller Water Products (NYSE:MWA) last released its quarterly earnings results on Wednesday, August 3rd. The company reported $0.18 EPS for the quarter, topping analysts’ consensus estimates of $0.17 by $0.01. The firm had revenue of $310 million for the quarter, compared to analysts’ expectations of $301 million. During the same period in the prior year, the firm posted $0.15 earnings per share. Mueller Water Products’s revenue for the quarter was up 3.0% on a year-over-year basis. On average, equities analysts expect that Mueller Water Products Inc. will post $0.49 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Friday, August 19th. Investors of record on Monday, August 8th will be paid a dividend of $0.03 per share. The ex-dividend date is Thursday, August 4th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.98%.

Other institutional investors have recently added to or reduced their stakes in the company. Rhumbline Advisers boosted its position in Mueller Water Products by 7.0% in the fourth quarter. Rhumbline Advisers now owns 153,726 shares of the company’s stock worth $1,322,000 after buying an additional 10,095 shares in the last quarter. Wells Fargo & Company MN boosted its position in Mueller Water Products by 35.4% in the fourth quarter. Wells Fargo & Company MN now owns 1,076,505 shares of the company’s stock worth $9,258,000 after buying an additional 281,635 shares in the last quarter. Schroder Investment Management Group boosted its position in Mueller Water Products by 6.3% in the fourth quarter. Schroder Investment Management Group now owns 544,026 shares of the company’s stock worth $4,679,000 after buying an additional 32,294 shares in the last quarter. Finally, KBC Group NV boosted its position in Mueller Water Products by 29.7% in the fourth quarter. KBC Group NV now owns 321,809 shares of the company’s stock worth $2,768,000 after buying an additional 73,644 shares in the last quarter.

Mueller Water Products, Inc, is a manufacturer and marketer of products and services used in the transmission, distribution and measurement of water. The Company’s product portfolio includes engineered valves, fire hydrants, metering products and systems, leak detection and pipe condition assessment, which are used by municipalities, and residential and non-residential construction industries.

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