Mueller Water Products’ (MWA) “Outperform” Rating Reiterated at Oppenheimer

Mueller Water Products (NYSE:MWA)‘s stock had its “outperform” rating reissued by Oppenheimer in a research report issued on Friday,Benzinga reports. They presently have a $27.00 target price on the industrial products company’s stock, up from their previous target price of $26.00. Oppenheimer’s target price would indicate a potential upside of 7.23% from the company’s previous close.

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

Mueller Water Products Stock Up 4.8 %

Shares of Mueller Water Products stock traded up $1.15 during trading hours on Friday, reaching $25.18. 332,234 shares of the company’s stock were exchanged, compared to its average volume of 1,245,986. The stock has a market cap of $3.92 billion, a P/E ratio of 32.05, a P/E/G ratio of 1.30 and a beta of 1.34. The company has a 50 day moving average of $21.54 and a two-hundred day moving average of $19.72. The company has a current ratio of 3.70, a quick ratio of 2.31 and a debt-to-equity ratio of 0.57. Mueller Water Products has a fifty-two week low of $12.59 and a fifty-two week high of $25.18.

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

Insider Buying and Selling at Mueller Water Products

In related 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 transaction of $175,472.00. Following the transaction, 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Christine Ortiz sold 8,800 shares of the firm’s stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $19.94, for a total transaction of $175,472.00. Following the transaction, 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Thomas J. Hansen sold 10,791 shares of the business’s stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $20.55, for a total value of $221,755.05. Following the completion of the sale, the director now owns 102,792 shares of the company’s stock, valued at approximately $2,112,375.60. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 121,616 shares of company stock valued at $2,390,796 in the last ninety days. 1.40% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Mueller Water Products

A number of large investors have recently bought and sold shares of MWA. Quest Partners LLC raised its position in shares of Mueller Water Products by 189.4% in the 3rd quarter. Quest Partners LLC now owns 114,811 shares of the industrial products company’s stock valued at $2,491,000 after buying an additional 75,144 shares in the last quarter. Thrivent Financial for Lutherans raised its position in Mueller Water Products by 364.6% during the third quarter. Thrivent Financial for Lutherans now owns 401,683 shares of the industrial products company’s stock valued at $8,716,000 after purchasing an additional 315,224 shares in the last quarter. Oppenheimer & Co. Inc. lifted its stake in Mueller Water Products by 256.7% during the third quarter. Oppenheimer & Co. Inc. now owns 42,348 shares of the industrial products company’s stock worth $919,000 after purchasing an additional 30,475 shares during the last quarter. Aigen Investment Management LP acquired a new stake in shares of Mueller Water Products in the 3rd quarter valued at $451,000. Finally, GSA Capital Partners LLP bought a new position in shares of Mueller Water Products in the 3rd quarter valued at $1,057,000. 91.68% of the stock is currently owned by institutional investors and hedge funds.

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.