Mueller Water Products Inc. (MWA) Rating Increased to Buy at Northcoast Research
Other equities analysts also recently issued reports about the company. Zacks Investment Research raised Mueller Water Products from a hold rating to a buy rating and set a $14.00 price objective for the company in a research report on Tuesday, August 9th. Boenning Scattergood downgraded Mueller Water Products from an outperform rating to a neutral rating in a research report on Wednesday, July 13th. Finally, DA Davidson boosted their price objective on Mueller Water Products from $11.00 to $12.00 and gave the stock a neutral rating in a research report on Friday, August 5th. Four investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Mueller Water Products has a consensus rating of Buy and a consensus target price of $12.25.
Mueller Water Products (NYSE:MWA) opened at 12.33 on Wednesday. Mueller Water Products has a one year low of $7.52 and a one year high of $13.50. The company has a 50-day moving average of $12.21 and a 200 day moving average of $11.40. The firm has a market cap of $1.99 billion, a P/E ratio of 33.32 and a beta of 1.33.
Mueller Water Products (NYSE:MWA) last announced its quarterly earnings data on Wednesday, August 3rd. The company reported $0.18 EPS for the quarter, topping the Zacks’ consensus estimate of $0.17 by $0.01. Mueller Water Products had a return on equity of 20.05% and a net margin of 5.20%. The business earned $310 million during the quarter, compared to the consensus estimate of $301 million. During the same period in the previous year, the company posted $0.15 earnings per share. The business’s revenue for the quarter was up 3.0% on a year-over-year basis. Equities research analysts expect that Mueller Water Products will post $0.49 earnings per share for the current fiscal year.
A number of large investors have recently bought and sold shares of the company. Silvercrest Asset Management Group LLC acquired a new stake in Mueller Water Products during the second quarter valued at $32,727,000. Westfield Capital Management Co. LP boosted its stake in Mueller Water Products by 617.6% in the second quarter. Westfield Capital Management Co. LP now owns 2,030,036 shares of the company’s stock valued at $23,183,000 after buying an additional 1,747,136 shares during the last quarter. Franklin Resources Inc. boosted its stake in Mueller Water Products by 102.4% in the second quarter. Franklin Resources Inc. now owns 2,829,705 shares of the company’s stock valued at $32,315,000 after buying an additional 1,431,363 shares during the last quarter. RS Investment Management Co. LLC acquired a new stake in Mueller Water Products during the second quarter valued at $15,590,000. Finally, 1832 Asset Management L.P. acquired a new stake in Mueller Water Products during the second quarter valued at $24,998,000. Hedge funds and other institutional investors own 85.10% 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. 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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