Mueller Water Products (NYSE:MWA) Announces Earnings Results, Beats Estimates By $0.10 EPS

Mueller Water Products (NYSE:MWA) issued its quarterly earnings results on Monday. The industrial products company reported $0.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.22 by $0.10, Briefing.com reports. Mueller Water Products had a net margin of 8.10% and a return on equity of 16.97%. The company had revenue of $356.70 million during the quarter, compared to analysts’ expectations of $329.67 million. During the same period last year, the company posted $0.18 EPS. Mueller Water Products’s revenue was up 9.2% on a year-over-year basis.

Mueller Water Products Stock Performance

Shares of MWA stock traded up $1.11 during trading hours on Tuesday, reaching $20.07. The company had a trading volume of 3,753,927 shares, compared to its average volume of 1,262,604. The business has a fifty day moving average price of $18.63 and a 200-day moving average price of $16.86. Mueller Water Products has a one year low of $12.13 and a one year high of $21.02. The firm has a market cap of $3.13 billion, a PE ratio of 30.31, a price-to-earnings-growth ratio of 1.96 and a beta of 1.33. The company has a debt-to-equity ratio of 0.59, a quick ratio of 2.08 and a current ratio of 3.53.

Mueller Water Products Dividend Announcement

The business 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 $0.064 dividend. The ex-dividend date is Friday, August 9th. This represents a $0.26 dividend on an annualized basis and a dividend yield of 1.28%. Mueller Water Products’s dividend payout ratio is presently 39.06%.

Analysts Set New Price Targets

MWA has been the subject of several recent analyst reports. Robert W. Baird lifted their target price on shares of Mueller Water Products from $18.00 to $24.00 and gave the stock a “neutral” rating in a report on Wednesday, May 8th. Oppenheimer lifted their target price on shares of Mueller Water Products from $21.00 to $22.00 and gave the stock an “outperform” rating in a report on Tuesday, July 2nd. Royal Bank of Canada lifted their target price on shares of Mueller Water Products from $17.00 to $20.00 and gave the stock a “sector perform” rating in a report on Wednesday, May 8th. Baird R W raised shares of Mueller Water Products to a “hold” rating in a report on Wednesday, May 8th. Finally, StockNews.com cut shares of Mueller Water Products from a “strong-buy” rating to a “buy” rating in a report on Saturday, June 22nd. Four analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat, Mueller Water Products presently has a consensus rating of “Hold” and an average target price of $20.75.

Insider Transactions at Mueller Water Products

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

About Mueller Water Products

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.