Short Interest in Mueller Water Products, Inc. (MWA) Expands By 63.4%

Mueller Water Products, Inc. (NYSE:MWA) was the target of a large growth in short interest in February. As of February 15th, there was short interest totalling 1,336,147 shares, a growth of 63.4% from the January 31st total of 817,767 shares. Based on an average daily volume of 1,641,788 shares, the days-to-cover ratio is currently 0.8 days. Currently, 0.9% of the shares of the stock are short sold.

Shares of Mueller Water Products (NYSE MWA) opened at $11.34 on Wednesday. The stock has a market cap of $1,808.21, a PE ratio of 24.76, a P/E/G ratio of 1.37 and a beta of 1.21. The company has a current ratio of 6.19, a quick ratio of 4.68 and a debt-to-equity ratio of 0.89. Mueller Water Products has a 1 year low of $10.54 and a 1 year high of $12.99.

Mueller Water Products (NYSE:MWA) last issued its quarterly earnings data on Thursday, February 1st. The industrial products company reported $0.06 EPS for the quarter, hitting analysts’ consensus estimates of $0.06. The firm had revenue of $178.30 million for the quarter, compared to analyst estimates of $176.13 million. Mueller Water Products had a net margin of 20.51% and a return on equity of 15.25%. The company’s revenue was up 6.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.04 EPS. analysts expect that Mueller Water Products will post 0.54 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Tuesday, February 20th. Stockholders of record on Friday, February 9th were paid a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 1.76%. The ex-dividend date was Thursday, February 8th. This is a positive change from Mueller Water Products’s previous quarterly dividend of $0.04. Mueller Water Products’s dividend payout ratio (DPR) is 18.87%.

A number of research firms have recently issued reports on MWA. Oppenheimer restated an “outperform” rating and set a $15.00 price target on shares of Mueller Water Products in a report on Thursday, December 28th. They noted that the move was a valuation call. Cowen lowered shares of Mueller Water Products from a “market perform” rating to an “underperform” rating and set a $11.00 price objective on the stock. in a research note on Friday, January 19th. Boenning Scattergood downgraded shares of Mueller Water Products from an “outperform” rating to a “neutral” rating in a research report on Friday, February 2nd. Finally, Nomura decreased their target price on shares of Mueller Water Products from $17.00 to $15.00 and set a “buy” rating for the company in a research report on Friday, February 2nd. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and four have given a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $13.71.

Institutional investors have recently added to or reduced their stakes in the stock. Belpointe Asset Management LLC bought a new position in Mueller Water Products during the 3rd quarter worth approximately $131,000. AMP Capital Investors Ltd acquired a new stake in Mueller Water Products during the 4th quarter worth approximately $128,000. Virtu Financial LLC acquired a new stake in Mueller Water Products during the 4th quarter worth approximately $129,000. Global X Management Co. LLC raised its holdings in Mueller Water Products by 75.2% during the 4th quarter. Global X Management Co. LLC now owns 11,284 shares of the industrial products company’s stock worth $141,000 after buying an additional 4,845 shares during the period. Finally, Boothbay Fund Management LLC acquired a new stake in Mueller Water Products during the 3rd quarter worth approximately $158,000. 86.94% of the stock is currently owned by institutional investors and hedge funds.

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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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