Mueller Water Products, Inc. (NYSE:MWA – Get Free Report)’s share price gapped down before the market opened on Friday following a dissappointing earnings announcement. The stock had previously closed at $15.87, but opened at $12.77. Mueller Water Products shares last traded at $13.00, with a volume of 889,165 shares changing hands.
The industrial products company reported $0.18 EPS for the quarter, missing the consensus estimate of $0.20 by ($0.02). The business had revenue of $326.60 million for the quarter, compared to the consensus estimate of $351.74 million. Mueller Water Products had a return on equity of 12.69% and a net margin of 5.90%. The company’s quarterly revenue was down 2.0% compared to the same quarter last year. During the same period last year, the firm earned $0.19 earnings per share.
Mueller Water Products Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Monday, August 21st. Shareholders of record on Thursday, August 10th will be given a dividend of $0.061 per share. The ex-dividend date is Wednesday, August 9th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.77%. Mueller Water Products’s payout ratio is presently 48.00%.
Analyst Ratings Changes
Several equities research analysts have recently weighed in on MWA shares. Northcoast Research cut shares of Mueller Water Products from a “buy” rating to a “neutral” rating in a research report on Friday. TD Cowen upgraded shares of Mueller Water Products from a “market perform” rating to an “outperform” rating and upped their price objective for the company from $11.00 to $19.00 in a report on Friday, May 5th. Seaport Res Ptn restated a “buy” rating on shares of Mueller Water Products in a research note on Tuesday, May 9th. StockNews.com assumed coverage on Mueller Water Products in a report on Thursday, May 18th. They issued a “hold” rating on the stock. Finally, DA Davidson restated a “neutral” rating on shares of Mueller Water Products in a report on Wednesday, May 10th. Six research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $13.67.
Hedge Funds Weigh In On Mueller Water Products
Hedge funds and other institutional investors have recently modified their holdings of the stock. Bessemer Group Inc. grew its holdings in Mueller Water Products by 409.9% during the 1st quarter. Bessemer Group Inc. now owns 3,156 shares of the industrial products company’s stock worth $44,000 after acquiring an additional 2,537 shares in the last quarter. Ridgewood Investments LLC purchased a new position in Mueller Water Products during the 1st quarter worth approximately $45,000. Tower Research Capital LLC TRC increased its holdings in shares of Mueller Water Products by 132.1% during the 1st quarter. Tower Research Capital LLC TRC now owns 3,291 shares of the industrial products company’s stock valued at $46,000 after purchasing an additional 1,873 shares in the last quarter. Global Retirement Partners LLC purchased a new position in shares of Mueller Water Products during the 1st quarter valued at approximately $53,000. Finally, Banque Cantonale Vaudoise increased its holdings in shares of Mueller Water Products by 480.6% during the 4th quarter. Banque Cantonale Vaudoise now owns 4,035 shares of the industrial products company’s stock valued at $43,000 after purchasing an additional 3,340 shares in the last quarter. Institutional investors own 89.98% of the company’s stock.
Mueller Water Products Stock Down 13.0 %
The business’s 50 day moving average is $15.62 and its 200-day moving average is $14.18. The stock has a market cap of $2.16 billion, a price-to-earnings ratio of 27.60, a PEG ratio of 1.96 and a beta of 1.31. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.82 and a current ratio of 3.50.
Mueller Water Products Company Profile
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. The company operates in two segments, Water Flow Solutions and Water Management Solutions.