Zacks Investment Research upgraded shares of Mueller Water Products (NYSE:MWA) from a sell rating to a hold rating in a report published on Wednesday morning.

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. “

A number of other brokerages have also commented on MWA. Oppenheimer reissued a buy rating and set a $14.00 price target on shares of Mueller Water Products in a research note on Monday, August 6th. DA Davidson reissued a neutral rating on shares of Mueller Water Products in a research note on Friday, July 20th. Seaport Global Securities lowered Mueller Water Products from a buy rating to a neutral rating and cut their price target for the company from $15.00 to $12.50 in a research note on Wednesday, August 8th. Finally, Nomura cut their price target on Mueller Water Products from $15.00 to $14.00 and set a buy rating on the stock in a research note on Wednesday, September 12th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and three have issued a buy rating to the company. The stock presently has a consensus rating of Hold and a consensus price target of $13.31.

Shares of MWA stock opened at $11.55 on Wednesday. Mueller Water Products has a 12 month low of $9.59 and a 12 month high of $12.99. The stock has a market cap of $1.86 billion, a PE ratio of 26.25, a PEG ratio of 1.45 and a beta of 1.07. The company has a current ratio of 5.13, a quick ratio of 3.91 and a debt-to-equity ratio of 0.83.

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

Several institutional investors and hedge funds have recently modified their holdings of the company. Northern Trust Corp raised its position in shares of Mueller Water Products by 1.5% during the second quarter. Northern Trust Corp now owns 2,046,325 shares of the industrial products company’s stock worth $23,982,000 after acquiring an additional 29,525 shares during the last quarter. Bank of New York Mellon Corp raised its position in shares of Mueller Water Products by 0.7% during the second quarter. Bank of New York Mellon Corp now owns 1,052,207 shares of the industrial products company’s stock worth $12,332,000 after acquiring an additional 7,544 shares during the last quarter. Millennium Management LLC raised its position in shares of Mueller Water Products by 143.7% during the second quarter. Millennium Management LLC now owns 1,711,236 shares of the industrial products company’s stock worth $20,056,000 after acquiring an additional 1,008,978 shares during the last quarter. MetLife Investment Advisors LLC increased its holdings in Mueller Water Products by 9.0% in the second quarter. MetLife Investment Advisors LLC now owns 71,344 shares of the industrial products company’s stock worth $836,000 after purchasing an additional 5,896 shares in the last quarter. Finally, Metropolitan Life Insurance Co. NY increased its holdings in Mueller Water Products by 14.5% in the second quarter. Metropolitan Life Insurance Co. NY now owns 53,128 shares of the industrial products company’s stock worth $623,000 after purchasing an additional 6,726 shares in the last quarter. Institutional investors own 86.29% of the company’s stock.

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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