Mueller Water Products (NYSE:MWA) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued on Saturday.

According to Zacks, “Mueller Water Products, Inc. manufactures and markets products and services that are used in the transmission and distribution of safe, clean drinking water and in water treatment facilities. Their broad product portfolio includes engineered valves, fire hydrants, pipe fittings, water meters and ductile iron pipe, which are used by municipalities, as well as the residential and non-residential construction industries. “

MWA has been the subject of several other research reports. Boenning Scattergood reaffirmed a “hold” rating on shares of Mueller Water Products in a research report on Tuesday, May 8th. ValuEngine lowered shares of Mueller Water Products from a “hold” rating to a “sell” rating in a research report on Tuesday, April 24th. Seaport Global Securities reaffirmed a “buy” rating on shares of Mueller Water Products in a research report on Wednesday, May 9th. Oppenheimer reaffirmed a “buy” rating and set a $14.00 price target on shares of Mueller Water Products in a research report on Monday, August 6th. Finally, DA Davidson reaffirmed a “neutral” rating on shares of Mueller Water Products in a research report on Friday, July 20th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $13.44.

Shares of NYSE:MWA opened at $11.74 on Friday. Mueller Water Products has a fifty-two week low of $9.59 and a fifty-two week high of $12.99. The company has a quick ratio of 3.91, a current ratio of 5.13 and a debt-to-equity ratio of 0.83. The stock has a market capitalization of $1.85 billion, a price-to-earnings ratio of 26.68, a price-to-earnings-growth ratio of 1.44 and a beta of 1.11.

Mueller Water Products (NYSE:MWA) last released its quarterly earnings results on Monday, August 6th. The industrial products company reported $0.19 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.19. Mueller Water Products had a net margin of 11.24% and a return on equity of 15.67%. The firm had revenue of $250.20 million during the quarter, compared to analyst estimates of $246.01 million. During the same quarter in the prior year, the firm earned $0.16 EPS. The business’s revenue for the quarter was up 7.8% compared to the same quarter last year. sell-side analysts forecast that Mueller Water Products will post 0.54 earnings per share for the current year.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. First Republic Investment Management Inc. purchased a new stake in Mueller Water Products in the 1st quarter worth approximately $126,000. Fortaleza Asset Management Inc. purchased a new stake in Mueller Water Products in the 2nd quarter worth approximately $128,000. Highbridge Capital Management LLC purchased a new stake in Mueller Water Products in the 1st quarter worth approximately $133,000. Raymond James Financial Services Advisors Inc. purchased a new stake in Mueller Water Products in the 2nd quarter worth approximately $157,000. Finally, Point72 Asia Hong Kong Ltd increased its holdings in Mueller Water Products by 1,456.9% in the 1st quarter. Point72 Asia Hong Kong Ltd now owns 15,631 shares of the industrial products company’s stock worth $170,000 after acquiring an additional 14,627 shares in the last quarter. 84.69% of the stock is owned by hedge funds and other institutional investors.

About Mueller Water Products

Mueller Water Products, Inc manufactures and markets products and services for use in the transmission, distribution, and measurement of water in the United States, Canada, and internationally. It operates through Infrastructure and Technologies segments. The Infrastructure segment offers valves for water and gas systems, including iron gate, butterfly, tapping, check, knife, plug, automatic control, and ball valves; dry-barrel and wet-barrel fire hydrants; pipe repair products, such as clamps and couplings used to repair leaks under the Mueller and Jones brand names; small valves, meter bars, and line stopper fittings for use in gas systems; and machines and tools for tapping, drilling, extracting, installing, and stopping-off.

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