Mueller Water Products (NYSE:MWA) Posts Earnings Results, Beats Estimates By $0.15 EPS

Mueller Water Products (NYSE:MWA) posted its earnings results on Monday. The industrial products company reported $0.30 earnings per share for the quarter, topping analysts’ consensus estimates of $0.15 by $0.15, Briefing.com reports. The business had revenue of $353.40 million for the quarter, compared to analyst estimates of $299.62 million. Mueller Water Products had a return on equity of 13.86% and a net margin of 6.35%. The firm’s revenue was up 6.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.14 EPS. Mueller Water Products updated its FY 2024 guidance to EPS.

Mueller Water Products Price Performance

Shares of NYSE:MWA traded up $0.08 during trading on Thursday, reaching $18.94. 644,855 shares of the company traded hands, compared to its average volume of 1,177,542. The company’s 50 day moving average is $15.82 and its two-hundred day moving average is $14.57. The firm has a market capitalization of $2.96 billion, a PE ratio of 29.56, a PEG ratio of 1.97 and a beta of 1.33. The company has a quick ratio of 1.89, a current ratio of 3.29 and a debt-to-equity ratio of 0.61. Mueller Water Products has a 52 week low of $12.11 and a 52 week high of $18.99.

Mueller Water Products Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, May 20th. Stockholders of record on Friday, May 10th will be given a dividend of $0.064 per share. The ex-dividend date is Thursday, May 9th. This represents a $0.26 dividend on an annualized basis and a dividend yield of 1.35%. Mueller Water Products’s payout ratio is 39.06%.

Analyst Ratings Changes

A number of research analysts recently weighed in on MWA shares. StockNews.com raised Mueller Water Products from a “hold” rating to a “buy” rating in a report on Thursday. The Goldman Sachs Group boosted their target price on Mueller Water Products from $15.00 to $17.00 and gave the stock a “neutral” rating in a report on Tuesday, February 13th. Robert W. Baird boosted their target price on Mueller Water Products from $18.00 to $24.00 and gave the stock a “neutral” rating in a report on Wednesday. Royal Bank of Canada upped their price objective on Mueller Water Products from $17.00 to $20.00 and gave the company a “sector perform” rating in a report on Wednesday. Finally, Oppenheimer raised Mueller Water Products from a “market perform” rating to an “outperform” rating and set a $19.00 price objective on the stock in a report on Thursday, April 18th. Five research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $20.00.

Insider Activity

In other news, Director Arsdell Stephen C. Van bought 10,000 shares of the company’s stock in a transaction on Friday, March 1st. The stock was purchased at an average cost of $15.42 per share, for a total transaction of $154,200.00. Following the completion of the transaction, the director now owns 80,603 shares of the company’s stock, valued at $1,242,898.26. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, SVP Todd P. Helms sold 37,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $15.15, for a total transaction of $560,550.00. Following the completion of the sale, the senior vice president now owns 41,181 shares of the company’s stock, valued at $623,892.15. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Arsdell Stephen C. Van purchased 10,000 shares of the business’s stock in a transaction on Friday, March 1st. The stock was purchased at an average price of $15.42 per share, for a total transaction of $154,200.00. Following the acquisition, the director now owns 80,603 shares of the company’s stock, valued at approximately $1,242,898.26. The disclosure for this purchase can be found here. In the last three months, insiders sold 69,458 shares of company stock worth $1,052,260. 1.40% of the stock is currently owned by company insiders.

Mueller Water Products Company Profile

Mueller Water Products, Inc manufactures and markets products and services for the transmission, distribution, and measurement of water used by municipalities, and the residential and non-residential construction industries in the United States, Israel, and internationally. It operates in two segments, Water Flow Solutions and Water Management Solutions.