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

Other research analysts have also recently issued reports about the stock. Nomura began coverage on shares of Mueller Water Products in a report on Wednesday, April 12th. They issued a “buy” rating and a $15.00 target price for the company. BidaskClub upgraded shares of Mueller Water Products from a “sell” rating to a “hold” rating in a report on Saturday, June 17th. CIBC reiterated a “buy” rating on shares of Mueller Water Products in a report on Wednesday, May 10th. Finally, Oppenheimer Holdings Inc. reiterated a “buy” rating on shares of Mueller Water Products in a report on Tuesday, May 9th. 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’s stock. Mueller Water Products presently has an average rating of “Buy” and a consensus price target of $13.71.

Shares of Mueller Water Products (MWA) traded down 0.09% during trading on Friday, hitting $11.50. 836,947 shares of the company traded hands. The stock has a market cap of $1.83 billion, a price-to-earnings ratio of 15.52 and a beta of 1.38. The firm has a 50 day moving average price of $11.43 and a 200-day moving average price of $12.03. Mueller Water Products has a one year low of $10.45 and a one year high of $14.20.

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

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

Institutional investors have recently modified their holdings of the stock. BlackRock Inc. raised its position in shares of Mueller Water Products by 14,036.8% in the first quarter. BlackRock Inc. now owns 13,522,561 shares of the industrial products company’s stock valued at $159,837,000 after buying an additional 13,426,906 shares during the last quarter. Vanguard Group Inc. raised its position in shares of Mueller Water Products by 8.8% in the first quarter. Vanguard Group Inc. now owns 12,650,343 shares of the industrial products company’s stock valued at $149,528,000 after buying an additional 1,017,949 shares during the last quarter. Gamco Investors INC. ET AL raised its position in shares of Mueller Water Products by 273.5% in the first quarter. Gamco Investors INC. ET AL now owns 5,103,980 shares of the industrial products company’s stock valued at $60,329,000 after buying an additional 3,737,574 shares during the last quarter. Impax Asset Management LTD raised its position in shares of Mueller Water Products by 31.1% in the first quarter. Impax Asset Management LTD now owns 3,411,887 shares of the industrial products company’s stock valued at $40,329,000 after buying an additional 809,000 shares during the last quarter. Finally, Wells Fargo & Company MN raised its position 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 valued at $29,327,000 after buying an additional 140,739 shares during the last quarter. 87.36% of the stock is currently owned by hedge funds and other institutional investors.

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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