Mueller Water Products (NYSE:MWA – Get Free Report) declared a quarterly dividend on Thursday, October 22nd. Investors of record on Monday, November 9th will be given a dividend of $0.08 per share by the industrial products company on Thursday, November 19th. This represents a $0.32 annualized dividend and a yield of 1.3%. The ex-dividend date is Monday, November 9th. This is a 14.3% increase from Mueller Water Products’s previous quarterly dividend of $0.07.
Mueller Water Products has increased its dividend payment by an average of 0.1% annually over the last three years and has raised its dividend annually for the last 10 consecutive years. Mueller Water Products has a payout ratio of 23.7% indicating that its dividend is sufficiently covered by earnings.
Mueller Water Products Trading Down 2.3%
Shares of MWA opened at $24.07 on Friday. Mueller Water Products has a fifty-two week low of $20.90 and a fifty-two week high of $31.00. The company’s fifty day moving average is $22.55 and its 200 day moving average is $25.80. The company has a debt-to-equity ratio of 0.40, a quick ratio of 3.08 and a current ratio of 4.64. The stock has a market capitalization of $3.76 billion, a PE ratio of 15.30, a P/E/G ratio of 0.99 and a beta of 0.99.
Mueller Water Products (NYSE:MWA – Get Free Report) last posted its quarterly earnings results on Wednesday, November 4th. The industrial products company reported $0.38 earnings per share for the quarter, topping analysts’ consensus estimates of $0.37 by $0.01. The business 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 15.02% and a return on equity of 23.55%. The business’s revenue for the quarter was down 1.1% on a year-over-year basis. During the same period in the prior year, the company posted $0.38 EPS. Sell-side analysts expect that Mueller Water Products will post 1.62 earnings per share for the current fiscal year.
Analyst Ratings Changes
A number of research analysts recently weighed in on the company. Wall Street Zen lowered Mueller Water Products from a “buy” rating to a “hold” rating in a report on Saturday, October 10th. The Goldman Sachs Group decreased their price target on Mueller Water Products from $29.00 to $24.00 and set a “neutral” rating for the company in a report on Friday, October 9th. Weiss Ratings cut Mueller Water Products from a “buy (b)” rating to a “buy (b-)” rating in a research report on Wednesday, September 16th. Oppenheimer cut their price target on shares of Mueller Water Products from $32.00 to $30.00 and set an “outperform” rating for the company in a report on Wednesday, October 14th. Finally, Robert W. Baird set a $35.00 target price on shares of Mueller Water Products in a research note on Friday, August 7th. Two equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $26.80.
View Our Latest Analysis on MWA
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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