Mueller Water Products (NYSE:MWA) Stock Rating Upgraded by Royal Bank Of Canada

Mueller Water Products (NYSE:MWA) was upgraded by stock analysts at Royal Bank Of Canada to a “strong sell” rating in a research report issued on Wednesday, Zacks reports.

MWA has been the topic of a number of other reports. Barclays started coverage on Mueller Water Products in a research note on Tuesday, June 30th. They issued an “underweight” rating and a $25.00 price target on the stock. Wall Street Zen upgraded Mueller Water Products from a “hold” rating to a “buy” rating in a report on Monday, August 10th. Weiss Ratings lowered Mueller Water Products from a “buy (b)” rating to a “buy (b-)” rating in a research report on Wednesday. Finally, Robert W. Baird set a $35.00 target price on Mueller Water Products in a research note on Friday, August 7th. Two investment analysts have rated the stock with a Buy rating, one has given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $28.40.

Mueller Water Products Trading Down 3.8%

Shares of NYSE:MWA opened at $21.88 on Wednesday. Mueller Water Products has a 52 week low of $21.77 and a 52 week high of $31.00. The company’s 50 day moving average is $24.85 and its two-hundred day moving average is $26.18. The company has a market cap of $3.42 billion, a PE ratio of 15.51, a P/E/G ratio of 0.96 and a beta of 1.01. The company has a current ratio of 4.64, a quick ratio of 3.08 and a debt-to-equity ratio of 0.40.

Mueller Water Products (NYSE:MWA) last released its quarterly earnings data on Wednesday, August 5th. The industrial products company reported $0.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.39 by $0.11. The business had revenue of $395.90 million during the quarter, compared to analysts’ expectations of $391.49 million. Mueller Water Products had a net margin of 15.02% and a return on equity of 23.55%. The company’s revenue for the quarter was up 4.1% on a year-over-year basis. During the same period in the previous year, the company earned $0.34 EPS. Equities analysts predict that Mueller Water Products will post 1.58 earnings per share for the current fiscal year.

Insider Buying and Selling at Mueller Water Products

In related news, Director Brian Healy acquired 1,183 shares of the firm’s stock in a transaction on Tuesday, July 7th. The stock was bought at an average cost of $25.33 per share, with a total value of $29,965.39. Following the transaction, the director owned 24,946 shares of the company’s stock, valued at $631,882.18. The trade was a 4.98% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Paul McAndrew sold 40,000 shares of the stock in a transaction that occurred on Monday, August 10th. The stock was sold at an average price of $26.39, for a total value of $1,055,600.00. Following the sale, the chief executive officer directly owned 42,556 shares of the company’s stock, valued at $1,123,052.84. The trade was a 48.45% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 52,598 shares of company stock valued at $1,360,685 in the last ninety days. Insiders own 1.10% of the company’s stock.

Institutional Investors Weigh In On Mueller Water Products

Several hedge funds have recently modified their holdings of the stock. Public Employees Retirement System of Ohio acquired a new position in shares of Mueller Water Products during the 2nd quarter worth $43,000. Sterling Capital Management LLC increased its holdings in shares of Mueller Water Products by 89.5% in the 1st quarter. Sterling Capital Management LLC now owns 1,935 shares of the industrial products company’s stock valued at $53,000 after purchasing an additional 914 shares in the last quarter. Nykredit A S acquired a new stake in shares of Mueller Water Products in the second quarter valued at about $60,000. GAMMA Investing LLC lifted its stake in shares of Mueller Water Products by 10.4% in the second quarter. GAMMA Investing LLC now owns 4,487 shares of the industrial products company’s stock valued at $116,000 after purchasing an additional 421 shares during the period. Finally, State of Wyoming purchased a new stake in Mueller Water Products during the first quarter worth about $121,000. 91.68% of the stock is owned by institutional investors and hedge funds.

About Mueller Water Products

Mueller Water Products, Inc designs and manufactures products used to support the operation, maintenance, and monitoring of water distribution and wastewater infrastructure. Its offerings include gate, butterfly, and check valves; fire hydrants; pipe fittings; and related products used to control and manage the flow of water through municipal and other utility systems.

The company also provides technologies and services intended to help utilities monitor their networks, identify leaks, improve asset management, and enhance operational efficiency.