Mueller Water Products (NYSE:MWA) Stock Price Up 8.6% Following Strong Earnings

Shares of Mueller Water Products, Inc. (NYSE:MWA) traded up 8.6% during trading on Wednesday following a stronger than expected earnings report. The company traded as high as $24.40 and last traded at $25.07. 132,868 shares changed hands during mid-day trading, a decline of 89% from the average session volume of 1,161,874 shares. The stock had previously closed at $23.08.

The industrial products company reported $0.25 earnings per share for the quarter, topping the consensus estimate of $0.19 by $0.06. Mueller Water Products had a return on equity of 19.38% and a net margin of 8.82%. During the same period last year, the business earned $0.13 earnings per share.

Mueller Water Products Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 21st. Stockholders of record on Monday, February 10th will be given a dividend of $0.067 per share. The ex-dividend date of this dividend is Monday, February 10th. This represents a $0.27 annualized dividend and a dividend yield of 1.07%. Mueller Water Products’s dividend payout ratio is currently 36.99%.

Analyst Ratings Changes

Several research firms have recently commented on MWA. Oppenheimer restated an “outperform” rating and set a $27.00 price target (up from $26.00) on shares of Mueller Water Products in a research report on Friday, November 8th. StockNews.com cut Mueller Water Products from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, October 30th. Five analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, Mueller Water Products presently has a consensus rating of “Hold” and a consensus target price of $22.20.

Insider Transactions at Mueller Water Products

In related news, CAO Suzanne G. Smith sold 26,138 shares of the firm’s stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $24.99, for a total transaction of $653,188.62. Following the transaction, the chief accounting officer now owns 9,378 shares of the company’s stock, valued at $234,356.22. This trade represents a 73.59 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, SVP Todd P. Helms sold 57,948 shares of the firm’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $25.69, for a total value of $1,488,684.12. Following the transaction, the senior vice president now directly owns 43,224 shares in the company, valued at approximately $1,110,424.56. This represents a 57.28 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 98,433 shares of company stock worth $2,494,144. Corporate insiders own 1.10% of the company’s stock.

Hedge Funds Weigh In On Mueller Water Products

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. V Square Quantitative Management LLC purchased a new stake in Mueller Water Products in the 3rd quarter valued at approximately $26,000. R Squared Ltd purchased a new stake in Mueller Water Products in the 4th quarter valued at approximately $100,000. Blue Trust Inc. boosted its holdings in Mueller Water Products by 434.6% in the 3rd quarter. Blue Trust Inc. now owns 4,892 shares of the industrial products company’s stock valued at $106,000 after purchasing an additional 3,977 shares in the last quarter. TD Private Client Wealth LLC boosted its holdings in Mueller Water Products by 468.1% in the 3rd quarter. TD Private Client Wealth LLC now owns 5,408 shares of the industrial products company’s stock valued at $117,000 after purchasing an additional 4,456 shares in the last quarter. Finally, National Bank of Canada FI boosted its holdings in Mueller Water Products by 36.9% in the 3rd quarter. National Bank of Canada FI now owns 6,514 shares of the industrial products company’s stock valued at $141,000 after purchasing an additional 1,757 shares in the last quarter. Hedge funds and other institutional investors own 91.68% of the company’s stock.

Mueller Water Products Price Performance

The stock has a fifty day simple moving average of $23.41 and a two-hundred day simple moving average of $22.28. The company has a market cap of $3.91 billion, a PE ratio of 34.34, a price-to-earnings-growth ratio of 1.31 and a beta of 1.38. The company has a current ratio of 3.33, a quick ratio of 2.16 and a debt-to-equity ratio of 0.55.

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.