Mueller Water Products (NYSE:MWA) Given New $24.00 Price Target at Oppenheimer

Mueller Water Products (NYSE:MWA) had its price objective hoisted by Oppenheimer from $22.00 to $24.00 in a report published on Wednesday morning, Benzinga reports. They currently have an outperform rating on the industrial products company’s stock.

Other equities research analysts have also issued research reports about the stock. StockNews.com raised shares of Mueller Water Products from a buy rating to a strong-buy rating in a report on Tuesday. Royal Bank of Canada raised their target price on shares of Mueller Water Products from $17.00 to $20.00 and gave the company a sector perform rating in a report on Wednesday, May 8th. Baird R W upgraded shares of Mueller Water Products to a hold rating in a research report on Wednesday, May 8th. Finally, Robert W. Baird raised their target price on shares of Mueller Water Products from $18.00 to $24.00 and gave the stock a neutral rating in a research report on Wednesday, May 8th. Five research analysts have rated the stock with a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of Hold and a consensus target price of $21.60.

Mueller Water Products Stock Down 2.3 %

Shares of NYSE MWA traded down $0.47 during trading hours on Wednesday, hitting $19.87. 1,384,293 shares of the stock were exchanged, compared to its average volume of 1,266,320. The company has a market cap of $3.09 billion, a PE ratio of 31.05, a PEG ratio of 1.96 and a beta of 1.33. Mueller Water Products has a 12 month low of $12.13 and a 12 month high of $21.02. The company has a quick ratio of 2.08, a current ratio of 3.53 and a debt-to-equity ratio of 0.59. The firm has a fifty day moving average price of $18.78 and a 200-day moving average price of $17.02.

Mueller Water Products (NYSE:MWA) last released its quarterly earnings data on Monday, August 5th. The industrial products company reported $0.32 EPS for the quarter, beating the consensus estimate of $0.22 by $0.10. Mueller Water Products had a net margin of 8.10% and a return on equity of 16.97%. The business had revenue of $356.70 million for the quarter, compared to the consensus estimate of $329.67 million. During the same period in the prior year, the firm earned $0.18 EPS. The business’s revenue for the quarter was up 9.2% on a year-over-year basis. On average, sell-side analysts expect that Mueller Water Products will post 0.86 EPS for the current year.

Mueller Water Products Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, August 20th. Stockholders of record on Friday, August 9th will be paid a dividend of $0.064 per share. This represents a $0.26 annualized dividend and a dividend yield of 1.29%. The ex-dividend date is Friday, August 9th. Mueller Water Products’s dividend payout ratio (DPR) is presently 39.06%.

Insider Transactions at Mueller Water Products

In related news, SVP Kenji Takeuchi sold 6,658 shares of the business’s stock in a transaction dated Thursday, May 16th. The shares were sold at an average price of $19.09, for a total value of $127,101.22. Following the completion of the transaction, the senior vice president now owns 28,334 shares of the company’s stock, valued at approximately $540,896.06. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Brian C. Healy purchased 2,650 shares of the firm’s stock in a transaction on Wednesday, May 15th. The stock was purchased at an average price of $19.18 per share, for a total transaction of $50,827.00. Following the acquisition, the director now directly owns 2,650 shares in the company, valued at $50,827. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Kenji Takeuchi sold 6,658 shares of the company’s stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of $19.09, for a total value of $127,101.22. Following the completion of the transaction, the senior vice president now directly owns 28,334 shares in the company, valued at $540,896.06. The disclosure for this sale can be found here. Corporate insiders own 1.40% of the company’s stock.

Institutional Investors Weigh In On Mueller Water Products

Several institutional investors and hedge funds have recently made changes to their positions in the company. Global Alpha Capital Management Ltd. acquired a new position in shares of Mueller Water Products during the fourth quarter valued at $1,509,000. Gabelli Funds LLC boosted its position in Mueller Water Products by 3.7% during the 1st quarter. Gabelli Funds LLC now owns 757,810 shares of the industrial products company’s stock worth $12,193,000 after acquiring an additional 27,000 shares during the period. Norges Bank acquired a new stake in Mueller Water Products during the 4th quarter worth about $14,642,000. Perpetual Ltd lifted its holdings in shares of Mueller Water Products by 43.5% during the 1st quarter. Perpetual Ltd now owns 256,695 shares of the industrial products company’s stock valued at $4,130,000 after buying an additional 77,810 shares during the last quarter. Finally, Quantbot Technologies LP acquired a new stake in Mueller Water Products in the 1st quarter worth approximately $452,000. 91.68% of the stock is owned by institutional investors and hedge funds.

Mueller Water Products Company Profile

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.