Mueller Water Products (MWA) Shares Gap Down to $12.28

Mueller Water Products, Inc. (NYSE:MWA) shares gapped down prior to trading on Friday . The stock had previously closed at $12.74, but opened at $12.28. Mueller Water Products shares last traded at $11.82, with a volume of 3729662 shares traded.

Several research analysts recently weighed in on the stock. Robert W. Baird restated a “hold” rating and issued a $14.00 price objective on shares of Mueller Water Products in a research report on Friday, November 10th. Cowen restated a “hold” rating and issued a $12.00 price objective on shares of Mueller Water Products in a research report on Thursday, September 21st. Royal Bank of Canada restated a “buy” rating and issued a $14.00 price objective on shares of Mueller Water Products in a research report on Wednesday, October 11th. Boenning Scattergood restated a “buy” rating and issued a $14.00 price objective on shares of Mueller Water Products in a research report on Thursday, November 2nd. Finally, Oppenheimer restated an “outperform” rating and issued a $15.00 price objective on shares of Mueller Water Products in a research report on Thursday, December 28th. They noted that the move was a valuation call. One research analyst has rated the stock with a sell rating, three have issued a hold rating and six have assigned a buy rating to the company. Mueller Water Products presently has a consensus rating of “Buy” and a consensus target price of $13.88.

The company has a market cap of $1,870.00, a PE ratio of 34.76, a P/E/G ratio of 1.53 and a beta of 1.33. The company has a current ratio of 4.73, a quick ratio of 3.75 and a debt-to-equity ratio of 0.97.

Mueller Water Products (NYSE:MWA) last issued its earnings results on Wednesday, November 1st. The industrial products company reported $0.15 EPS for the quarter, meeting the consensus estimate of $0.15. The company had revenue of $226.90 million during the quarter, compared to analysts’ expectations of $227.14 million. Mueller Water Products had a net margin of 14.93% and a return on equity of 15.43%. The business’s revenue for the quarter was up 5.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.17 EPS. equities analysts anticipate that Mueller Water Products, Inc. will post 0.54 earnings per share for the current year.

In other news, CFO Evan Hart sold 167,016 shares of the business’s stock in a transaction on Friday, November 3rd. The shares were sold at an average price of $12.11, for a total value of $2,022,563.76. Following the completion of the transaction, the chief financial officer now owns 355,862 shares of the company’s stock, valued at approximately $4,309,488.82. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Gregory E. Hyland sold 84,514 shares of the business’s stock in a transaction on Friday, November 24th. The shares were sold at an average price of $12.27, for a total transaction of $1,036,986.78. Following the completion of the transaction, the insider now directly owns 979,481 shares of the company’s stock, valued at approximately $12,018,231.87. The disclosure for this sale can be found here. Insiders have sold a total of 693,656 shares of company stock valued at $8,514,160 in the last quarter. Corporate insiders own 3.00% of the company’s stock.

Hedge funds have recently made changes to their positions in the company. Belpointe Asset Management LLC acquired a new position in shares of Mueller Water Products in the 3rd quarter valued at $131,000. Colony Group LLC acquired a new position in shares of Mueller Water Products in the 2nd quarter valued at $135,000. Boothbay Fund Management LLC acquired a new position in shares of Mueller Water Products in the 3rd quarter valued at $158,000. Ameritas Investment Partners Inc. grew its holdings in shares of Mueller Water Products by 2.0% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 13,730 shares of the industrial products company’s stock valued at $160,000 after buying an additional 266 shares during the period. Finally, Magnetar Financial LLC acquired a new position in shares of Mueller Water Products in the 3rd quarter valued at $192,000. 84.03% of the stock is owned by institutional investors.

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About Mueller Water Products

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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