Zacks Investment Research Lowers Mueller Water Products (MWA) to Sell

Mueller Water Products (NYSE:MWA) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report issued on Friday.

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. “

Several other equities analysts also recently weighed in on the company. Oppenheimer Holdings Inc. restated a “buy” rating on shares of Mueller Water Products in a research report on Tuesday, May 9th. Nomura began coverage on Mueller Water Products in a research note on Wednesday, April 12th. They set a “buy” rating and a $15.00 target price for the company. CIBC reissued a “buy” rating on shares of Mueller Water Products in a research note on Wednesday, May 10th. Finally, BidaskClub upgraded Mueller Water Products from a “sell” rating to a “hold” rating in a research report on Saturday, June 17th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and six have assigned a buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $13.71.

Mueller Water Products (NYSE:MWA) traded down 0.09% during trading on Friday, reaching $11.50. 836,947 shares of the company’s stock were exchanged. The stock has a market cap of $1.83 billion, a PE ratio of 15.52 and a beta of 1.38. The firm has a 50 day moving average of $11.43 and a 200-day moving average of $12.03. Mueller Water Products has a 12 month low of $10.45 and a 12 month high of $14.20.

Mueller Water Products (NYSE:MWA) last issued its quarterly earnings results on Thursday, April 27th. The industrial products company reported $0.09 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.09. The company had revenue of $199.70 million for the quarter, compared to the consensus estimate of $206 million. Mueller Water Products had a return on equity of 18.45% and a net margin of 12.45%. Mueller Water Products’s revenue for the quarter was up 1.3% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.10 earnings per share. On average, equities research analysts anticipate that Mueller Water Products will post $0.45 earnings per share for the current fiscal year.

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In related news, Director Bernard G. Rethore sold 56,400 shares of Mueller Water Products stock in a transaction on Tuesday, May 30th. The stock was sold at an average price of $11.23, for a total value of $633,372.00. Following the completion of the transaction, the director now directly owns 27,303 shares in the company, valued at $306,612.69. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Shirley C. Franklin sold 9,156 shares of Mueller Water Products stock in a transaction on Wednesday, June 14th. The shares were sold at an average price of $11.40, for a total value of $104,378.40. Following the completion of the transaction, the director now owns 39,157 shares of the company’s stock, valued at $446,389.80. The disclosure for this sale can be found here. Company insiders own 4.30% of the company’s stock.

Hedge funds have recently made changes to their positions in the company. Capital Fund Management S.A. increased its stake in shares of Mueller Water Products by 491.6% in the first quarter. Capital Fund Management S.A. now owns 131,327 shares of the industrial products company’s stock worth $1,552,000 after buying an additional 109,127 shares during the period. Daiwa Securities Group Inc. acquired a new stake in shares of Mueller Water Products during the first quarter worth about $1,297,000. First Trust Advisors LP increased its stake in shares of Mueller Water Products by 20.2% in the first quarter. First Trust Advisors LP now owns 870,771 shares of the industrial products company’s stock worth $10,293,000 after buying an additional 146,634 shares during the period. Stevens First Principles Investment Advisors increased its stake in shares of Mueller Water Products by 841.5% in the first quarter. Stevens First Principles Investment Advisors now owns 51,780 shares of the industrial products company’s stock worth $612,000 after buying an additional 46,280 shares during the period. Finally, Wells Fargo & Company MN increased its stake in shares of Mueller Water Products by 6.0% in the first quarter. Wells Fargo & Company MN now owns 2,481,140 shares of the industrial products company’s stock worth $29,327,000 after buying an additional 140,739 shares during the period. 87.36% of the stock is owned by institutional investors.

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 in North America. The Company operates through three segments: Mueller Co, Anvil and Mueller Technologies. The Mueller Co segment manufactures valves for water and gas systems, and dry-barrel and wet-barrel fire hydrants.

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