Mueller Water Products’ (MWA) Buy Rating Reiterated at Boenning Scattergood
Boenning Scattergood reiterated their buy rating on shares of Mueller Water Products (NYSE:MWA) in a research report released on Thursday. They currently have a $14.00 price target on the industrial products company’s stock.
“We rate MWA Outperform, with our $14 target reflecting a water infrastructure peer group average forward P/E of 25 times.”,” the firm’s analyst wrote.
A number of other brokerages have also commented on MWA. Robert W. Baird restated a hold rating and set a $14.00 price target on shares of Mueller Water Products in a research note on Wednesday, October 4th. Royal Bank Of Canada reiterated a buy rating and issued a $14.00 target price on shares of Mueller Water Products in a research note on Wednesday, October 11th. Cowen and Company reiterated a hold rating and issued a $12.00 target price on shares of Mueller Water Products in a research note on Thursday, September 21st. Zacks Investment Research upgraded shares of Mueller Water Products from a sell rating to a hold rating in a research note on Friday, August 4th. Finally, BidaskClub lowered shares of Mueller Water Products from a buy rating to a hold rating in a research note on Friday, August 25th. Four analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The stock presently has an average rating of Buy and an average price target of $13.75.
Shares of Mueller Water Products (MWA) traded down $0.34 during mid-day trading on Thursday, reaching $12.04. 2,509,526 shares of the company’s stock were exchanged, compared to its average volume of 815,952. The firm has a market cap of $1,909.40, a P/E ratio of 28.00, a price-to-earnings-growth ratio of 1.79 and a beta of 1.32. The company has a debt-to-equity ratio of 1.03, a quick ratio of 4.63 and a current ratio of 5.90.
Mueller Water Products (NYSE:MWA) last announced its quarterly earnings results on Wednesday, November 1st. The industrial products company reported $0.15 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.15. The business had revenue of $226.90 million during the quarter, compared to analyst estimates of $227.14 million. Mueller Water Products had a net margin of 14.93% and a return on equity of 15.83%. Mueller Water Products’s quarterly revenue was up 5.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.17 EPS. analysts forecast that Mueller Water Products will post 0.53 EPS for the current fiscal year.
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The company also recently announced a quarterly dividend, which will be paid on Monday, November 20th. Stockholders of record on Friday, November 10th will be paid a $0.04 dividend. The ex-dividend date is Thursday, November 9th. This represents a $0.16 annualized dividend and a dividend yield of 1.33%. Mueller Water Products’s payout ratio is 21.05%.
Several large investors have recently modified their holdings of the stock. Jennison Associates LLC boosted its holdings in shares of Mueller Water Products by 45.0% in the 3rd quarter. Jennison Associates LLC now owns 2,348,643 shares of the industrial products company’s stock worth $30,063,000 after buying an additional 729,104 shares during the last quarter. Gabelli Funds LLC boosted its holdings in shares of Mueller Water Products by 11.5% in the 3rd quarter. Gabelli Funds LLC now owns 1,722,879 shares of the industrial products company’s stock worth $22,053,000 after buying an additional 177,500 shares during the last quarter. Teton Advisors Inc. boosted its holdings in shares of Mueller Water Products by 7.7% in the 3rd quarter. Teton Advisors Inc. now owns 75,900 shares of the industrial products company’s stock worth $972,000 after buying an additional 5,400 shares during the last quarter. Gamco Investors INC. ET AL boosted its holdings in shares of Mueller Water Products by 0.4% in the 3rd quarter. Gamco Investors INC. ET AL now owns 6,782,227 shares of the industrial products company’s stock worth $86,813,000 after buying an additional 23,737 shares during the last quarter. Finally, Stevens Capital Management LP purchased a new position in shares of Mueller Water Products in the 3rd quarter worth about $255,000. 84.66% of the stock is currently owned by 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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