Oppenheimer Holdings Inc. Reiterates Outperform Rating for Mueller Water Products Inc. (MWA)
Mueller Water Products Inc. (NYSE:MWA)‘s stock had its “outperform” rating reiterated by stock analysts at Oppenheimer Holdings Inc. in a research report issued to clients and investors on Monday. They currently have a $15.00 target price on the stock, up from their previous target price of $13.00. Oppenheimer Holdings Inc.’s target price points to a potential upside of 13.12% from the company’s current price.
Several other brokerages have also recently issued reports on MWA. Zacks Investment Research cut shares of Mueller Water Products from a “buy” rating to a “hold” rating in a report on Wednesday, August 10th. DA Davidson raised their target price on shares of Mueller Water Products from $11.00 to $12.00 and gave the stock a “neutral” rating in a report on Friday, August 5th. Finally, Northcoast Research upgraded shares of Mueller Water Products from a “neutral” rating to a “buy” rating in a report on Wednesday, October 12th. Four research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Mueller Water Products presently has a consensus rating of “Buy” and an average price target of $12.58.
Mueller Water Products (NYSE:MWA) opened at 13.26 on Monday. The firm’s 50-day moving average is $12.45 and its 200 day moving average is $11.87. The firm has a market cap of $2.14 billion, a P/E ratio of 34.00 and a beta of 1.43. Mueller Water Products has a 12-month low of $7.52 and a 12-month high of $13.77.
Mueller Water Products (NYSE:MWA) last posted its quarterly earnings results on Wednesday, November 2nd. The company reported $0.17 EPS for the quarter, missing the consensus estimate of $0.18 by $0.01. The business had revenue of $302.50 million for the quarter, compared to analysts’ expectations of $325.14 million. Mueller Water Products had a return on equity of 20.57% and a net margin of 5.61%. The company’s revenue was down 2.9% compared to the same quarter last year. During the same period last year, the business posted $0.14 earnings per share. Equities analysts forecast that Mueller Water Products will post $0.59 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Monday, November 21st. Investors of record on Thursday, November 10th were issued a $0.03 dividend. This represents a $0.12 annualized dividend and a yield of 0.90%. The ex-dividend date was Tuesday, November 8th. Mueller Water Products’s dividend payout ratio (DPR) is currently 30.77%.
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A number of hedge funds have recently added to or reduced their stakes in the stock. RS Investment Management Co. LLC purchased a new position in shares of Mueller Water Products during the second quarter valued at approximately $15,590,000. Capital Fund Management S.A. purchased a new position in shares of Mueller Water Products during the second quarter valued at approximately $750,000. State Street Corp raised its position in shares of Mueller Water Products by 6.0% in the first quarter. State Street Corp now owns 2,866,175 shares of the company’s stock valued at $28,318,000 after buying an additional 163,171 shares in the last quarter. Manning & Napier Advisors LLC raised its position in shares of Mueller Water Products by 77.4% in the second quarter. Manning & Napier Advisors LLC now owns 90,125 shares of the company’s stock valued at $1,028,000 after buying an additional 39,325 shares in the last quarter. Finally, Insight Capital Research & Management Inc. purchased a new position in shares of Mueller Water Products during the second quarter valued at approximately $2,958,000. Institutional investors and hedge funds own 86.48% of the company’s stock.
Mueller Water Products Company Profile
Mueller Water Products, Inc, is a manufacturer and marketer of products and services used in the transmission, distribution and measurement of water. The Company’s product portfolio includes engineered valves, fire hydrants, metering products and systems, leak detection and pipe condition assessment, which are used by municipalities, and residential and non-residential construction industries.
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