Mueller Water Products (NYSE:MWA – Get Free Report) announced its earnings results on Wednesday. The industrial products company reported $0.38 EPS for the quarter, hitting the consensus estimate of $0.38, FiscalAI reports. Mueller Water Products had a return on equity of 23.55% and a net margin of 15.02%. The firm had revenue of $376.50 million for the quarter, compared to analysts’ expectations of $375.51 million. During the same quarter in the previous year, the company earned $0.38 earnings per share. The firm’s quarterly revenue was down 1.1% compared to the same quarter last year.
Mueller Water Products Stock Performance
Mueller Water Products stock traded up $0.48 on Wednesday, hitting $24.05. The company’s stock had a trading volume of 3,211,236 shares, compared to its average volume of 1,409,986. The firm has a market cap of $3.75 billion, a P/E ratio of 15.01, a price-to-earnings-growth ratio of 0.97 and a beta of 0.99. The company has a quick ratio of 3.08, a current ratio of 4.64 and a debt-to-equity ratio of 0.40. The company has a fifty day moving average price of $22.58 and a 200-day moving average price of $25.82. Mueller Water Products has a one year low of $20.90 and a one year high of $31.00.
Mueller Water Products Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Thursday, November 19th. Shareholders of record on Monday, November 9th will be given a $0.08 dividend. The ex-dividend date is Monday, November 9th. This represents a $0.32 annualized dividend and a yield of 1.3%. This is a positive change from Mueller Water Products’s previous quarterly dividend of $0.07. Mueller Water Products’s dividend payout ratio (DPR) is 19.86%.
Analysts Set New Price Targets
A number of equities analysts recently commented on the stock. The Goldman Sachs Group decreased their price objective on shares of Mueller Water Products from $29.00 to $24.00 and set a “neutral” rating for the company in a research note on Friday, October 9th. Royal Bank Of Canada lowered Mueller Water Products from a “sector perform” rating to an “underperform” rating and dropped their price target for the company from $30.00 to $21.00 in a research report on Wednesday, September 16th. Robert W. Baird set a $35.00 price objective on Mueller Water Products in a research note on Friday, August 7th. Weiss Ratings lowered Mueller Water Products from a “buy (b)” rating to a “buy (b-)” rating in a research report on Wednesday, September 16th. Finally, Oppenheimer lowered their target price on Mueller Water Products from $32.00 to $30.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 14th. Two investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $27.00.
Check Out Our Latest Stock Report on MWA
Insider Activity
In related news, Director Brian Healy acquired 1,376 shares of the company’s stock in a transaction that occurred on Wednesday, October 7th. The stock was acquired at an average price of $21.75 per share, for a total transaction of $29,928.00. Following the completion of the acquisition, the director owned 26,322 shares of the company’s stock, valued at $572,503.50. This trade represents a 5.52% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Christine Ortiz sold 12,048 shares of Mueller Water Products stock in a transaction dated Monday, August 31st. The stock was sold at an average price of $24.23, for a total value of $291,923.04. Following the transaction, the director owned 30,824 shares of the company’s stock, valued at $746,865.52. The trade was a 28.10% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 52,598 shares of company stock valued at $1,360,685 in the last 90 days. 1.10% of the stock is owned by company insiders.
Mueller Water Products announced that its Board of Directors has authorized a stock buyback program on Thursday, October 22nd that permits the company to buy back $300 million in outstanding shares. This buyback authorization permits the industrial products company to repurchase up to 8.8% of its stock through open market purchases. Share buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.
About Mueller Water Products
Mueller Water Products, Inc (NYSE:MWA) manufactures products and provides services used in the treatment, transmission, distribution, and measurement of water. Its customers include municipalities, water utilities, distributors, contractors, and industrial organizations.
The company’s product portfolio includes water valves, fire hydrants, pipe fittings, repair and connection products, and related infrastructure equipment. Through its Echologics business, Mueller also provides acoustic leak-detection technologies and other solutions designed to help utilities monitor and manage water distribution systems.
Mueller Water Products traces its history to Mueller Co, which was founded in 1857.
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