Robert W. Baird Reiterates Hold Rating for Mueller Water Products (MWA)
Mueller Water Products (NYSE:MWA)‘s stock had its “hold” rating reaffirmed by research analysts at Robert W. Baird in a report released on Friday. They presently have a $13.00 price objective on the industrial products company’s stock. Robert W. Baird’s price objective indicates a potential upside of 7.62% from the company’s current price.
Other equities analysts also recently issued research reports about the company. Zacks Investment Research downgraded Mueller Water Products from a “hold” rating to a “sell” rating in a report on Friday, July 21st. Oppenheimer Holdings, Inc. set a $13.00 price objective on Mueller Water Products and gave the stock a “buy” rating in a report on Monday, July 31st. BidaskClub downgraded Mueller Water Products from a “buy” rating to a “hold” rating in a report on Saturday, July 8th. Finally, Boenning Scattergood upgraded Mueller Water Products from a “neutral” rating to an “outperform” rating and set a $14.00 price objective for the company in a report on Tuesday. Three equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The company has an average rating of “Buy” and an average target price of $13.88.
Mueller Water Products (MWA) traded down 0.98% during mid-day trading on Friday, hitting $12.08. 824,225 shares of the stock traded hands. The firm has a market capitalization of $1.92 billion, a P/E ratio of 15.01 and a beta of 1.36. The company has a 50-day moving average of $11.79 and a 200 day moving average of $11.71. Mueller Water Products has a 1-year low of $10.45 and a 1-year high of $14.20.
Mueller Water Products (NYSE:MWA) last announced its earnings results on Thursday, August 3rd. The industrial products company reported $0.16 EPS for the quarter, meeting analysts’ consensus estimates of $0.16. The company had revenue of $232.20 million during the quarter, compared to the consensus estimate of $235.07 million. Mueller Water Products had a return on equity of 16.85% and a net margin of 14.47%. The firm’s revenue for the quarter was up 3.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.15 earnings per share. On average, equities research analysts anticipate that Mueller Water Products will post $0.44 EPS for the current year.
In related news, Director Shirley C. Franklin sold 9,156 shares of the stock in a transaction on Wednesday, June 14th. The stock was sold at an average price of $11.40, for a total transaction of $104,378.40. Following the sale, the director now directly owns 39,157 shares of the company’s stock, valued at $446,389.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 4.30% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the stock. Marshall Wace North America L.P. purchased a new stake in shares of Mueller Water Products during the first quarter valued at $2,143,000. BlackRock Inc. boosted its position in shares of Mueller Water Products by 14,036.8% during 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. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Mueller Water Products by 2.5% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 570,091 shares of the industrial products company’s stock valued at $6,659,000 after buying an additional 14,170 shares during the last quarter. TD Asset Management Inc. boosted its position in shares of Mueller Water Products by 3.9% during the first quarter. TD Asset Management Inc. now owns 80,200 shares of the industrial products company’s stock valued at $948,000 after buying an additional 3,000 shares during the last quarter. Finally, Stifel Financial Corp boosted its position in shares of Mueller Water Products by 7.0% during the first quarter. Stifel Financial Corp now owns 45,552 shares of the industrial products company’s stock valued at $536,000 after buying an additional 2,978 shares during the last quarter. 84.73% of the stock is currently owned by 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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