Zacks Investment Research upgraded shares of Mueller Water Products (NYSE:MWA) from a sell rating to a hold rating in a research note issued to investors on Saturday morning, Zacks.com reports.

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 topic of a number of other research reports. Seaport Global Securities initiated coverage on United Technologies in a research report on Friday, May 10th. They set a neutral rating and a $136.86 price objective on the stock. Goldman Sachs Group initiated coverage on Tricida in a research report on Wednesday, June 26th. They set a buy rating and a $48.00 price objective on the stock. ValuEngine upgraded Zogenix from a buy rating to a strong-buy rating in a research report on Thursday, June 27th. Finally, Boenning Scattergood reiterated a hold rating on shares of Mueller Water Products in a research report on Tuesday, May 7th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the company. The company currently has an average rating of Hold and an average target price of $11.83.

NYSE MWA opened at $9.78 on Friday. The stock has a market capitalization of $1.53 billion, a P/E ratio of 18.45, a PEG ratio of 1.32 and a beta of 1.17. The firm has a 50 day moving average price of $9.71. Mueller Water Products has a 1-year low of $8.47 and a 1-year high of $12.59. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.89 and a current ratio of 3.07.

Mueller Water Products (NYSE:MWA) last released its earnings results on Monday, May 6th. The industrial products company reported $0.12 earnings per share for the quarter, missing the consensus estimate of $0.14 by ($0.02). The firm had revenue of $234.00 million during the quarter, compared to analysts’ expectations of $252.06 million. Mueller Water Products had a net margin of 3.24% and a return on equity of 15.89%. The business’s revenue was up .4% compared to the same quarter last year. During the same quarter last year, the business earned $0.12 EPS. Research analysts forecast that Mueller Water Products will post 0.59 EPS for the current fiscal year.

In other Mueller Water Products news, Director Bernard G. Rethore bought 10,000 shares of the business’s stock in a transaction on Thursday, May 9th. The stock was bought at an average price of $9.19 per share, with a total value of $91,900.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Shirley C. Franklin sold 6,700 shares of the firm’s stock in a transaction on Wednesday, June 12th. The stock was sold at an average price of $9.55, for a total value of $63,985.00. Following the sale, the director now directly owns 52,892 shares of the company’s stock, valued at approximately $505,118.60. The disclosure for this sale can be found here. Company insiders own 1.70% of the company’s stock.

A number of hedge funds have recently bought and sold shares of MWA. CWM Advisors LLC acquired a new stake in Mueller Water Products during the fourth quarter worth $92,000. Belpointe Asset Management LLC acquired a new stake in Mueller Water Products during the first quarter worth $102,000. Paloma Partners Management Co acquired a new stake in Mueller Water Products during the fourth quarter worth $103,000. Stone Ridge Asset Management LLC acquired a new stake in Mueller Water Products during the fourth quarter worth $130,000. Finally, Hsbc Holdings PLC grew its stake in shares of Mueller Water Products by 12.7% in the fourth quarter. Hsbc Holdings PLC now owns 16,331 shares of the industrial products company’s stock valued at $148,000 after buying an additional 1,840 shares in the last quarter. 86.49% of the stock is owned by 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 in two segments, Infrastructure and Technologies. The Infrastructure segment offers valves for water and gas systems, including butterfly, iron gate, 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; and machines and tools for tapping, drilling, extracting, installing, and stopping-off.

Featured Story: What is a Real Estate Investment Trust (REIT)?

Get a free copy of the Zacks research report on Mueller Water Products (MWA)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for Mueller Water Products (NYSE:MWA)

Receive News & Ratings for Mueller Water Products Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Mueller Water Products and related companies with MarketBeat.com's FREE daily email newsletter.