Mueller Water Products (MWA) Raised to Hold at Zacks Investment Research

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Zacks Investment Research upgraded shares of Mueller Water Products (NYSE:MWA) from a sell rating to a hold rating in a report released on Wednesday.

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. “

Other equities research analysts have also issued research reports about the company. Berenberg Bank initiated coverage on Mueller Water Products in a research note on Wednesday, October 3rd. They set a buy rating and a $15.00 price objective for the company. Oppenheimer set a $14.00 price objective on Mueller Water Products and gave the company a buy rating in a research note on Wednesday, September 12th. Nomura lowered their price objective on Mueller Water Products from $15.00 to $14.00 and set a buy rating for the company in a research note on Wednesday, September 12th. DA Davidson restated a neutral rating on shares of Mueller Water Products in a research note on Friday, July 20th. Finally, Seaport Global Securities lowered Mueller Water Products from a buy rating to a neutral rating and decreased their target price for the stock from $15.00 to $12.50 in a research report on Wednesday, August 8th. One analyst has rated the stock with a sell rating, six have given a hold rating and three have assigned a buy rating to the stock. The company has an average rating of Hold and a consensus price target of $13.44.

Shares of NYSE MWA opened at $10.55 on Wednesday. Mueller Water Products has a fifty-two week low of $9.59 and a fifty-two week high of $12.96. The company has a quick ratio of 3.91, a current ratio of 5.13 and a debt-to-equity ratio of 0.83. The company has a market cap of $1.82 billion, a price-to-earnings ratio of 23.98, a price-to-earnings-growth ratio of 1.42 and a beta of 1.06.

Mueller Water Products (NYSE:MWA) last issued its quarterly earnings data on Monday, August 6th. The industrial products company reported $0.19 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.19. Mueller Water Products had a return on equity of 15.67% and a net margin of 11.24%. The firm had revenue of $250.20 million during the quarter, compared to analyst estimates of $246.01 million. During the same quarter last year, the firm earned $0.16 EPS. Mueller Water Products’s quarterly revenue was up 7.8% on a year-over-year basis. Equities analysts expect that Mueller Water Products will post 0.54 earnings per share for the current fiscal year.

Several institutional investors and hedge funds have recently modified their holdings of the company. Manning & Napier Group LLC grew its position in shares of Mueller Water Products by 2.8% in the 3rd quarter. Manning & Napier Group LLC now owns 179,424 shares of the industrial products company’s stock worth $2,064,000 after acquiring an additional 4,854 shares in the last quarter. Comerica Bank lifted its holdings in shares of Mueller Water Products by 2.4% in the 2nd quarter. Comerica Bank now owns 240,806 shares of the industrial products company’s stock worth $2,834,000 after purchasing an additional 5,704 shares during the last quarter. MetLife Investment Advisors LLC lifted its holdings in shares of Mueller Water Products by 9.0% in the 2nd quarter. MetLife Investment Advisors LLC now owns 71,344 shares of the industrial products company’s stock worth $836,000 after purchasing an additional 5,896 shares during the last quarter. Metropolitan Life Insurance Co. NY lifted its holdings in shares of Mueller Water Products by 14.5% in the 2nd quarter. Metropolitan Life Insurance Co. NY now owns 53,128 shares of the industrial products company’s stock worth $623,000 after purchasing an additional 6,726 shares during the last quarter. Finally, Stanley Laman Group Ltd. lifted its holdings in shares of Mueller Water Products by 6.2% in the 2nd quarter. Stanley Laman Group Ltd. now owns 120,998 shares of the industrial products company’s stock worth $1,418,000 after purchasing an additional 7,107 shares during the last quarter. Institutional investors own 86.29% of the company’s stock.

About Mueller Water Products

Mueller Water Products, Inc manufactures and markets products and services for use in the transmission, distribution, and measurement of water in the United States, Canada, and internationally. It operates through Infrastructure and Technologies segments. The Infrastructure segment offers valves for water and gas systems, including iron gate, butterfly, tapping, check, knife, plug, automatic control, and ball valves; dry-barrel and wet-barrel fire hydrants; pipe repair products, such as clamps and couplings used to repair leaks under the Mueller and Jones brand names; small valves, meter bars, and line stopper fittings for use in gas systems; and machines and tools for tapping, drilling, extracting, installing, and stopping-off.

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