Zacks Investment Research Upgrades Mueller Water Products (NYSE:MWA) to Hold
Mueller Water Products (NYSE:MWA) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued on Friday.
According to Zacks, “Mueller Water Products, Inc. manufactures and markets products and services that are used in the transmission and distribution of safe, clean drinking water and in water treatment facilities. Their broad product portfolio includes engineered valves, fire hydrants, pipe fittings, water meters and ductile iron pipe, which are used by municipalities, as well as the residential and non-residential construction industries. “
MWA has been the topic of a number of other research reports. BidaskClub raised shares of Mueller Water Products from a “hold” rating to a “buy” rating in a report on Friday, June 30th. Oppenheimer Holdings, Inc. reissued an “outperform” rating and set a $13.00 price objective (down previously from $15.00) on shares of Mueller Water Products in a report on Tuesday, May 2nd. CIBC decreased their price objective on shares of Mueller Water Products from $15.00 to $13.00 and set an “outperform” rating on the stock in a report on Wednesday, May 3rd. Finally, Nomura initiated coverage on shares of Mueller Water Products in a report on Wednesday, April 12th. They set a “buy” rating and a $15.00 price objective on the stock. One analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $14.00.
Mueller Water Products (MWA) opened at 12.38 on Friday. Mueller Water Products has a 52-week low of $10.45 and a 52-week high of $14.20. The firm has a market cap of $1.97 billion, a P/E ratio of 16.71 and a beta of 1.37. The company’s 50 day moving average is $11.48 and its 200 day moving average is $11.92.
Mueller Water Products (NYSE:MWA) last released its quarterly earnings data on Thursday, August 3rd. The industrial products company reported $0.16 EPS for the quarter, hitting analysts’ consensus estimates of $0.16. The firm had revenue of $232.20 million for the quarter, compared to the consensus estimate of $235.07 million. Mueller Water Products had a net margin of 14.47% and a return on equity of 17.17%. The firm’s revenue was up 3.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.15 earnings per share. Equities research analysts forecast that Mueller Water Products will post $0.45 EPS for the current fiscal year.
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In other Mueller Water Products news, Director Bernard G. Rethore sold 56,400 shares of the company’s stock in a transaction dated Tuesday, May 30th. The shares were sold at an average price of $11.23, for a total value of $633,372.00. Following the sale, the director now owns 27,303 shares of the company’s stock, valued at $306,612.69. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Shirley C. Franklin sold 9,156 shares of the company’s stock in a transaction dated Wednesday, June 14th. The shares were sold at an average price of $11.40, for a total transaction of $104,378.40. Following the completion of the sale, the director now directly owns 39,157 shares in the company, valued at approximately $446,389.80. The disclosure for this sale can be found here. 4.30% of the stock is owned by corporate insiders.
Several hedge funds have recently made changes to their positions in the stock. Bluestein R H & Co. purchased a new position in Mueller Water Products during the first quarter worth about $118,000. Blair William & Co. IL purchased a new position in Mueller Water Products during the first quarter worth about $124,000. Nomura Holdings Inc. purchased a new position in Mueller Water Products during the first quarter worth about $125,000. BlueCrest Capital Management Ltd purchased a new position in Mueller Water Products during the first quarter worth about $133,000. Finally, Teza Capital Management LLC purchased a new position in Mueller Water Products during the first quarter worth about $136,000. 87.31% of the stock is currently owned by institutional investors.
Mueller Water Products Company Profile
Mueller Water Products, Inc is a manufacturer and marketer of products and services used in the transmission, distribution and measurement of water in North America. The Company operates through three segments: Mueller Co, Anvil and Mueller Technologies. The Mueller Co segment manufactures valves for water and gas systems, and dry-barrel and wet-barrel fire hydrants.
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