Mueller Water Products (NYSE:MWA) Downgraded to “Hold” at Zacks Investment Research

Zacks Investment Research lowered shares of Mueller Water Products (NYSE:MWA) from a buy rating to a hold rating in a research note published on Wednesday 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. “

Mueller Water Products stock opened at $14.91 on Wednesday. The firm has a market cap of $2.36 billion, a price-to-earnings ratio of 27.79, a PEG ratio of 2.06 and a beta of 1.30. The company has a current ratio of 3.83, a quick ratio of 2.71 and a debt-to-equity ratio of 0.67. The company has a 50 day moving average of $14.44. Mueller Water Products has a twelve month low of $9.88 and a twelve month high of $15.11.

Mueller Water Products (NYSE:MWA) last announced its quarterly earnings results on Monday, May 3rd. The industrial products company reported $0.14 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.13 by $0.01. Mueller Water Products had a net margin of 7.56% and a return on equity of 13.23%. The company had revenue of $267.50 million for the quarter, compared to analyst estimates of $249.20 million. During the same quarter in the prior year, the business posted $0.15 EPS. Mueller Water Products’s quarterly revenue was up 3.8% on a year-over-year basis. Research analysts expect that Mueller Water Products will post 0.6 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 20th. Stockholders of record on Monday, May 10th were paid a dividend of $0.055 per share. The ex-dividend date of this dividend was Friday, May 7th. This represents a $0.22 annualized dividend and a dividend yield of 1.48%. Mueller Water Products’s dividend payout ratio (DPR) is 42.31%.

Institutional investors and hedge funds have recently made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Mueller Water Products by 209.5% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 503,969 shares of the industrial products company’s stock worth $7,000,000 after purchasing an additional 341,131 shares during the last quarter. Advantage Alpha Capital Partners LP grew its stake in Mueller Water Products by 8.7% in the 1st quarter. Advantage Alpha Capital Partners LP now owns 309,478 shares of the industrial products company’s stock valued at $4,299,000 after buying an additional 24,891 shares during the last quarter. Principal Financial Group Inc. grew its stake in Mueller Water Products by 33.2% in the 4th quarter. Principal Financial Group Inc. now owns 93,084 shares of the industrial products company’s stock valued at $1,153,000 after buying an additional 23,191 shares during the last quarter. Barclays PLC grew its stake in Mueller Water Products by 185.0% in the 1st quarter. Barclays PLC now owns 149,617 shares of the industrial products company’s stock valued at $2,079,000 after buying an additional 97,125 shares during the last quarter. Finally, KBC Group NV grew its stake in Mueller Water Products by 34.3% in the 1st quarter. KBC Group NV now owns 1,473,644 shares of the industrial products company’s stock valued at $20,469,000 after buying an additional 376,281 shares during the last quarter. Institutional investors own 88.45% 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 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; and machines and tools for tapping, drilling, extracting, installing, and stopping-off.

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