MUELLER WATER PRODUCTS (MWA) Given a $13.00 Price Target by Oppenheimer Holdings, Inc. Analysts
Oppenheimer Holdings, Inc. set a $13.00 price target on MUELLER WATER PRODUCTS (NYSE:MWA) in a research report released on Monday, July 31st. The firm currently has a buy rating on the industrial products company’s stock. Oppenheimer Holdings also issued estimates for MUELLER WATER PRODUCTS’s Q3 2017 earnings at $0.17 EPS, FY2017 earnings at $0.47 EPS and FY2018 earnings at $0.58 EPS.
MWA has been the subject of several other reports. Zacks Investment Research downgraded shares of MUELLER WATER PRODUCTS from a hold rating to a sell rating in a research report on Friday, July 21st. BidaskClub cut shares of MUELLER WATER PRODUCTS from a buy rating to a hold rating in a research note on Saturday, July 8th. CIBC reduced their price objective on shares of MUELLER WATER PRODUCTS from $15.00 to $13.00 and set an outperform rating for the company in a research note on Wednesday, May 3rd. Finally, Nomura began coverage on shares of MUELLER WATER PRODUCTS in a research note on Wednesday, April 12th. They issued a buy rating and a $15.00 price objective for the company. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. MUELLER WATER PRODUCTS has a consensus rating of Buy and an average price target of $14.00.
MUELLER WATER PRODUCTS (MWA) traded up 0.34% during midday trading on Monday, reaching $11.68. The company had a trading volume of 932,899 shares. The firm’s 50 day moving average is $11.60 and its 200 day moving average is $11.88. The stock has a market capitalization of $1.85 billion, a PE ratio of 14.51 and a beta of 1.37. MUELLER WATER PRODUCTS has a 1-year low of $10.45 and a 1-year high of $14.20.
MUELLER WATER PRODUCTS (NYSE:MWA) last posted its earnings results on Thursday, August 3rd. The industrial products company reported $0.16 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.16. The company had revenue of $232.20 million during the quarter, compared to the consensus estimate of $235.07 million. MUELLER WATER PRODUCTS had a net margin of 14.47% and a return on equity of 16.85%. The company’s revenue for the quarter was up 3.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.15 earnings per share. On average, equities analysts anticipate that MUELLER WATER PRODUCTS will post $0.44 EPS for the current fiscal year.
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The business also recently announced a quarterly dividend, which will be paid on Monday, August 21st. Investors of record on Friday, August 11th will be paid a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a yield of 1.37%. The ex-dividend date is Wednesday, August 9th. MUELLER WATER PRODUCTS’s payout ratio is currently 20.00%.
In other MUELLER WATER PRODUCTS news, Director Shirley C. Franklin sold 9,156 shares of the business’s stock in a transaction on Wednesday, June 14th. The shares were sold at an average price of $11.40, for a total value of $104,378.40. Following the sale, the director now owns 39,157 shares of the company’s stock, valued at approximately $446,389.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Bernard G. Rethore sold 56,400 shares of the business’s stock in a transaction on Tuesday, May 30th. The shares were sold at an average price of $11.23, for a total transaction of $633,372.00. Following the completion of the sale, the director now directly owns 27,303 shares in the company, valued at approximately $306,612.69. The disclosure for this sale can be found here. 4.30% of the stock is owned by corporate insiders.
Large investors have recently made changes to their positions in the stock. Russell Investments Group Ltd. purchased a new stake in MUELLER WATER PRODUCTS during the fourth quarter valued at $672,000. USA Financial Portformulas Corp purchased a new stake in MUELLER WATER PRODUCTS during the fourth quarter valued at $237,000. Contravisory Investment Management Inc. purchased a new stake in MUELLER WATER PRODUCTS during the first quarter valued at $164,000. Americafirst Capital Management LLC purchased a new stake in MUELLER WATER PRODUCTS during the first quarter valued at $176,000. Finally, First Manhattan Co. raised its stake in MUELLER WATER PRODUCTS by 4.6% in the first quarter. First Manhattan Co. now owns 369,848 shares of the industrial products company’s stock valued at $4,641,000 after buying an additional 16,396 shares during the last quarter. 88.70% of the stock is currently owned by hedge funds and other institutional investors.
About MUELLER WATER PRODUCTS
Mueller Water Products, Inc is a manufacturer and marketer of products and services used in the transmission, distribution and measurement of water in North America. The Company operates through three segments: Mueller Co, Anvil and Mueller Technologies. The Mueller Co segment manufactures valves for water and gas systems, and dry-barrel and wet-barrel fire hydrants.
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