Oppenheimer Reaffirms Outperform Rating for Mueller Water Products (NYSE:MWA)

Mueller Water Products (NYSE:MWA)‘s stock had its “outperform” rating restated by equities research analysts at Oppenheimer in a research report issued on Friday,Benzinga reports. They currently have a $27.00 target price on the industrial products company’s stock, up from their previous target price of $26.00. Oppenheimer’s price objective indicates a potential upside of 7.23% from the company’s current price.

A number of other research firms also recently weighed in on MWA. StockNews.com downgraded shares of Mueller Water Products from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, October 30th. TD Cowen lowered shares of Mueller Water Products from a “buy” rating to a “hold” rating and increased their price target for the stock from $19.00 to $20.00 in a research report on Friday, August 9th. Finally, Royal Bank of Canada lifted their price objective on Mueller Water Products from $20.00 to $23.00 and gave the company a “sector perform” rating in a report on Wednesday, August 7th. Five investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $22.20.

Mueller Water Products Stock Performance

Shares of MWA traded up $1.15 during trading hours on Friday, reaching $25.18. 332,234 shares of the company traded hands, compared to its average volume of 1,245,986. The company has a debt-to-equity ratio of 0.57, a quick ratio of 2.31 and a current ratio of 3.70. The stock’s fifty day moving average is $21.54 and its 200 day moving average is $19.72. Mueller Water Products has a 1-year low of $12.59 and a 1-year high of $25.18. The stock has a market cap of $3.92 billion, a P/E ratio of 32.05, a price-to-earnings-growth ratio of 1.30 and a beta of 1.34.

Mueller Water Products (NYSE:MWA) last issued its quarterly earnings results on Wednesday, November 6th. The industrial products company reported $0.22 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.25 by ($0.03). Mueller Water Products had a net margin of 9.71% and a return on equity of 19.46%. The firm had revenue of $348.20 million for the quarter, compared to the consensus estimate of $324.80 million. During the same quarter in the prior year, the firm earned $0.19 earnings per share. The company’s revenue was up 15.5% on a year-over-year basis. Equities research analysts anticipate that Mueller Water Products will post 0.99 earnings per share for the current fiscal year.

Insider Buying and Selling at Mueller Water Products

In other Mueller Water Products news, Director Christine Ortiz sold 8,800 shares of the firm’s stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $19.94, for a total value of $175,472.00. Following the completion of the sale, the director now owns 34,699 shares in the company, valued at approximately $691,898.06. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Mueller Water Products news, insider J Scott Hall sold 102,025 shares of Mueller Water Products stock in a transaction on Monday, August 12th. The shares were sold at an average price of $19.54, for a total transaction of $1,993,568.50. Following the completion of the sale, the insider now owns 544,029 shares of the company’s stock, valued at approximately $10,630,326.66. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Christine Ortiz sold 8,800 shares of Mueller Water Products stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $19.94, for a total value of $175,472.00. Following the sale, the director now directly owns 34,699 shares of the company’s stock, valued at approximately $691,898.06. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 121,616 shares of company stock worth $2,390,796. 1.40% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Mueller Water Products

Several institutional investors have recently modified their holdings of the stock. V Square Quantitative Management LLC bought a new position in shares of Mueller Water Products during the third quarter worth $26,000. Daiwa Securities Group Inc. acquired a new stake in shares of Mueller Water Products during the first quarter worth $46,000. Allspring Global Investments Holdings LLC bought a new stake in Mueller Water Products in the 2nd quarter valued at $72,000. National Bank of Canada FI boosted its stake in Mueller Water Products by 44.2% in the 2nd quarter. National Bank of Canada FI now owns 4,757 shares of the industrial products company’s stock worth $83,000 after purchasing an additional 1,457 shares during the period. Finally, Quarry LP increased its holdings in Mueller Water Products by 341.0% during the 2nd quarter. Quarry LP now owns 5,632 shares of the industrial products company’s stock worth $101,000 after purchasing an additional 4,355 shares in the last quarter. 91.68% of the stock is currently 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.