Mueller Water Products (NYSE:MWA – Get Free Report) had its price target dropped by stock analysts at Barclays from $25.00 to $24.00 in a research note issued on Friday, Benzinga reports. The firm presently has an “underweight” rating on the industrial products company’s stock. Barclays‘s price target suggests a potential downside of 0.85% from the company’s previous close.
A number of other research analysts have also recently weighed in on MWA. The Goldman Sachs Group lowered their price objective on Mueller Water Products from $29.00 to $24.00 and set a “neutral” rating on the stock in a research report on Friday, October 9th. Royal Bank Of Canada cut Mueller Water Products from a “sector perform” rating to an “underperform” rating and reduced their price objective for the stock from $30.00 to $21.00 in a research note on Wednesday, September 16th. Robert W. Baird set a $35.00 price objective on Mueller Water Products in a report on Friday, August 7th. Wall Street Zen downgraded Mueller Water Products from a “buy” rating to a “hold” rating in a research note on Saturday, October 10th. Finally, Weiss Ratings lowered Mueller Water Products from a “buy (b)” rating to a “buy (b-)” rating in a research note on Wednesday, September 16th. Two research analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Mueller Water Products currently has a consensus rating of “Hold” and a consensus target price of $26.80.
Read Our Latest Research Report on MWA
Mueller Water Products Stock Performance
NYSE:MWA traded down $0.42 during mid-day trading on Friday, reaching $24.21. The company’s stock had a trading volume of 177,182 shares, compared to its average volume of 1,247,549. The firm’s fifty day moving average price is $22.57 and its two-hundred day moving average price is $25.81. Mueller Water Products has a 12-month low of $20.90 and a 12-month high of $31.00. The stock has a market cap of $3.78 billion, a P/E ratio of 17.19, a PEG ratio of 0.99 and a beta of 0.99. The company has a current ratio of 4.64, a quick ratio of 3.08 and a debt-to-equity ratio of 0.40.
Mueller Water Products (NYSE:MWA – Get Free Report) last issued its earnings results on Wednesday, November 4th. The industrial products company reported $0.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.37 by $0.01. The company had revenue of $376.50 million for the quarter, compared to analysts’ expectations of $375.51 million. Mueller Water Products had a net margin of 15.04% and a return on equity of 23.01%. The firm’s quarterly revenue was down 1.1% on a year-over-year basis. During the same quarter last year, the company posted $0.38 earnings per share. On average, equities analysts forecast that Mueller Water Products will post 1.62 EPS for the current fiscal year.
Mueller Water Products declared that its board has approved a share repurchase plan on Thursday, October 22nd that allows the company to buy back $300 million in shares. This repurchase authorization allows the industrial products company to purchase up to 8.8% of its shares through open market purchases. Stock repurchase plans are generally an indication that the company’s leadership believes its stock is undervalued.
Insiders Place Their Bets
In other news, CEO Paul McAndrew sold 40,000 shares of the company’s stock in a transaction on Monday, August 10th. The stock was sold at an average price of $26.39, for a total value of $1,055,600.00. Following the transaction, the chief executive officer owned 42,556 shares of the company’s stock, valued at $1,123,052.84. This represents a 48.45% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Christine Ortiz sold 12,048 shares of the stock in a transaction on 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 approximately $746,865.52. This represents a 28.10% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 52,598 shares of company stock valued at $1,360,685 over the last quarter. 1.10% of the stock is owned by insiders.
Institutional Investors Weigh In On Mueller Water Products
Institutional investors have recently made changes to their positions in the stock. First Trust Advisors LP lifted its holdings in shares of Mueller Water Products by 34.0% in the 1st quarter. First Trust Advisors LP now owns 6,036,679 shares of the industrial products company’s stock worth $165,948,000 after acquiring an additional 1,530,193 shares during the last quarter. Bank of New York Mellon Corp acquired a new stake in Mueller Water Products in the 2nd quarter valued at approximately $28,496,000. Janus Henderson Group PLC increased its holdings in Mueller Water Products by 58.6% in the 1st quarter. Janus Henderson Group PLC now owns 1,934,813 shares of the industrial products company’s stock valued at $53,217,000 after purchasing an additional 714,913 shares during the last quarter. Bessemer Group Inc. raised its position in Mueller Water Products by 354.9% in the first quarter. Bessemer Group Inc. now owns 588,830 shares of the industrial products company’s stock valued at $16,187,000 after purchasing an additional 459,393 shares during the period. Finally, Bank of America Corp DE raised its position in Mueller Water Products by 30.0% in the first quarter. Bank of America Corp DE now owns 888,975 shares of the industrial products company’s stock valued at $24,438,000 after purchasing an additional 205,269 shares during the period. 91.68% of the stock is currently owned by institutional investors and hedge funds.
Mueller Water Products Company Profile
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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