Mueller Water Products (NYSE:MWA) Posts Quarterly Earnings Results, Beats Expectations By $0.15 EPS

Mueller Water Products (NYSE:MWA) released its quarterly earnings data on Monday. The industrial products company reported $0.30 EPS for the quarter, topping analysts’ consensus estimates of $0.15 by $0.15, Briefing.com reports. Mueller Water Products had a return on equity of 13.86% and a net margin of 6.35%. The firm had revenue of $353.40 million for the quarter, compared to the consensus estimate of $299.62 million. During the same quarter in the prior year, the company posted $0.14 earnings per share. The firm’s revenue was up 6.2% on a year-over-year basis. Mueller Water Products updated its FY 2024 guidance to EPS.

Mueller Water Products Trading Up 9.1 %

NYSE MWA traded up $1.50 on Tuesday, reaching $18.05. The company had a trading volume of 1,931,661 shares, compared to its average volume of 1,109,687. Mueller Water Products has a 52 week low of $12.11 and a 52 week high of $18.99. The stock’s 50 day moving average is $15.71 and its 200-day moving average is $14.50. The company has a quick ratio of 1.89, a current ratio of 3.29 and a debt-to-equity ratio of 0.61. The stock has a market cap of $2.82 billion, a price-to-earnings ratio of 36.66, a PEG ratio of 1.97 and a beta of 1.33.

Mueller Water Products Dividend Announcement

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

Insider Transactions at Mueller Water Products

In related news, SVP Kenji Takeuchi sold 6,658 shares of the company’s stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $15.62, for a total value of $103,997.96. Following the completion of the transaction, the senior vice president now directly owns 34,196 shares of the company’s stock, valued at approximately $534,141.52. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other Mueller Water Products news, SVP Kenji Takeuchi sold 6,658 shares of the business’s stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $15.62, for a total transaction of $103,997.96. Following the transaction, the senior vice president now owns 34,196 shares of the company’s stock, valued at approximately $534,141.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Arsdell Stephen C. Van purchased 10,000 shares of the business’s stock in a transaction on Friday, March 1st. The stock was purchased at an average price of $15.42 per share, with a total value of $154,200.00. Following the purchase, the director now owns 80,603 shares of the company’s stock, valued at $1,242,898.26. The disclosure for this purchase can be found here. In the last ninety days, insiders sold 69,458 shares of company stock worth $1,052,260. 1.40% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

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

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.