Mueller Water Products (MWA) Rating Lowered to Underperform at Cowen

Mueller Water Products (NYSE:MWA) was downgraded by Cowen from a “market perform” rating to an “underperform” rating in a report released on Friday, Marketbeat reports. They presently have a $11.00 price objective on the industrial products company’s stock. Cowen’s target price points to a potential downside of 6.94% from the company’s current price.

Several other brokerages also recently commented on MWA. Robert W. Baird reiterated a “hold” rating and issued a $14.00 target price on shares of Mueller Water Products in a report on Wednesday, October 4th. Royal Bank of Canada reiterated a “buy” rating and issued a $14.00 target price on shares of Mueller Water Products in a report on Wednesday, October 11th. Oppenheimer restated an “outperform” rating and set a $15.00 price objective on shares of Mueller Water Products in a report on Thursday, December 28th. They noted that the move was a valuation call. Finally, Boenning Scattergood restated a “buy” rating and set a $14.00 price objective on shares of Mueller Water Products in a report on Thursday, November 2nd. 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 stock. The company has an average rating of “Buy” and an average target price of $13.88.

Shares of Mueller Water Products (NYSE:MWA) traded down $0.46 during mid-day trading on Friday, hitting $11.82. 3,729,662 shares of the stock traded hands, compared to its average volume of 1,060,000. The stock has a market capitalization of $1,870.00, a P/E ratio of 34.76, a P/E/G ratio of 1.52 and a beta of 1.33. The company has a debt-to-equity ratio of 0.97, a quick ratio of 3.75 and a current ratio of 4.73. Mueller Water Products has a 52 week low of $10.84 and a 52 week high of $14.02.

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

In other Mueller Water Products news, insider Gregory E. Hyland sold 142,243 shares of the stock in a transaction dated Wednesday, November 29th. The shares were sold at an average price of $12.37, for a total transaction of $1,759,545.91. Following the completion of the transaction, the insider now owns 979,481 shares in the company, valued at $12,116,179.97. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Evan Hart sold 167,016 shares of the stock in a transaction dated Friday, November 3rd. The stock was sold at an average price of $12.11, for a total transaction of $2,022,563.76. Following the transaction, the chief financial officer now owns 355,862 shares of the company’s stock, valued at approximately $4,309,488.82. The disclosure for this sale can be found here. Insiders have sold 693,656 shares of company stock valued at $8,514,160 in the last 90 days. 3.00% of the stock is currently owned by corporate insiders.

A number of large investors have recently modified their holdings of the business. Ameritas Investment Partners Inc. boosted its position in Mueller Water Products by 2.0% during the second quarter. Ameritas Investment Partners Inc. now owns 13,730 shares of the industrial products company’s stock worth $160,000 after purchasing an additional 266 shares during the period. Amalgamated Bank boosted its position in Mueller Water Products by 2.6% during the second quarter. Amalgamated Bank now owns 19,603 shares of the industrial products company’s stock worth $229,000 after purchasing an additional 500 shares during the period. Highlander Capital Management LLC boosted its position in Mueller Water Products by 3.8% during the second quarter. Highlander Capital Management LLC now owns 38,300 shares of the industrial products company’s stock worth $453,000 after purchasing an additional 1,400 shares during the period. TD Asset Management Inc. boosted its position in Mueller Water Products by 5.3% during the third quarter. TD Asset Management Inc. now owns 92,900 shares of the industrial products company’s stock worth $1,189,000 after purchasing an additional 4,700 shares during the period. Finally, Voya Investment Management LLC boosted its position in Mueller Water Products by 6.9% during the second quarter. Voya Investment Management LLC now owns 74,334 shares of the industrial products company’s stock worth $868,000 after purchasing an additional 4,796 shares during the period. Hedge funds and other institutional investors own 84.03% of the company’s stock.

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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.

Analyst Recommendations for Mueller Water Products (NYSE:MWA)

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