Mueller Water Products (NYSE:MWA) Sets New 1-Year High – Still a Buy?

Shares of Mueller Water Products (NYSE:MWA) reached a new 52-week high on Wednesday . The company traded as high as $29.94 and last traded at $29.44, with a volume of 1494989 shares traded. The stock had previously closed at $29.67.

Analysts Set New Price Targets

A number of research analysts have recently commented on MWA shares. Royal Bank Of Canada upped their price target on shares of Mueller Water Products from $27.00 to $29.00 and gave the stock a “sector perform” rating in a report on Friday, February 6th. Robert W. Baird set a $33.00 price target on Mueller Water Products in a report on Friday. Finally, Oppenheimer restated an “outperform” rating and set a $32.00 price objective (up from $30.00) on shares of Mueller Water Products in a report on Monday. Two investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat.com, Mueller Water Products presently has an average rating of “Moderate Buy” and an average target price of $31.33.

Mueller Water Products Trading Down 0.8%

The company has a quick ratio of 2.55, a current ratio of 4.02 and a debt-to-equity ratio of 0.44. The stock’s 50 day moving average is $25.68 and its two-hundred day moving average is $25.44. The company has a market capitalization of $4.60 billion, a PE ratio of 23.37, a price-to-earnings-growth ratio of 1.36 and a beta of 1.17.

Mueller Water Products (NYSE:MWA) last posted its quarterly earnings results on Wednesday, February 4th. The industrial products company reported $0.29 EPS for the quarter, beating the consensus estimate of $0.27 by $0.02. Mueller Water Products had a net margin of 13.83% and a return on equity of 22.34%. The business had revenue of $318.20 million during the quarter, compared to analyst estimates of $315.26 million. During the same quarter in the previous year, the business posted $0.25 EPS. The company’s quarterly revenue was up 4.6% compared to the same quarter last year. As a group, sell-side analysts predict that Mueller Water Products will post 1.24 EPS for the current fiscal year.

Mueller Water Products Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 20th. Investors of record on Tuesday, February 10th will be paid a $0.07 dividend. The ex-dividend date of this dividend is Tuesday, February 10th. This represents a $0.28 dividend on an annualized basis and a yield of 1.0%. Mueller Water Products’s payout ratio is 22.22%.

Insider Buying and Selling at Mueller Water Products

In other news, SVP Todd P. Helms sold 15,094 shares of Mueller Water Products stock in a transaction on Thursday, December 4th. The stock was sold at an average price of $24.62, for a total value of $371,614.28. Following the transaction, the senior vice president directly owned 85,917 shares in the company, valued at approximately $2,115,276.54. This trade represents a 14.94% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Brian C. Healy purchased 1,125 shares of Mueller Water Products stock in a transaction dated Wednesday, January 7th. The stock was bought at an average cost of $24.41 per share, with a total value of $27,461.25. Following the completion of the transaction, the director owned 17,925 shares in the company, valued at approximately $437,549.25. This represents a 6.70% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. 1.10% of the stock is currently owned by company insiders.

Institutional Trading of Mueller Water Products

Hedge funds have recently modified their holdings of the company. Invesco Ltd. grew its position in shares of Mueller Water Products by 19.4% in the 2nd quarter. Invesco Ltd. now owns 5,825,366 shares of the industrial products company’s stock worth $140,042,000 after buying an additional 945,258 shares during the last quarter. First Trust Advisors LP boosted its stake in Mueller Water Products by 66.1% in the second quarter. First Trust Advisors LP now owns 5,535,000 shares of the industrial products company’s stock valued at $133,061,000 after acquiring an additional 2,203,088 shares in the last quarter. Geode Capital Management LLC grew its holdings in Mueller Water Products by 21.8% in the second quarter. Geode Capital Management LLC now owns 4,449,896 shares of the industrial products company’s stock worth $106,987,000 after purchasing an additional 796,596 shares during the last quarter. Principal Financial Group Inc. increased its position in shares of Mueller Water Products by 1.2% during the fourth quarter. Principal Financial Group Inc. now owns 3,262,684 shares of the industrial products company’s stock worth $77,717,000 after purchasing an additional 37,148 shares in the last quarter. Finally, American Century Companies Inc. lifted its holdings in shares of Mueller Water Products by 11.8% during the 3rd quarter. American Century Companies Inc. now owns 3,118,795 shares of the industrial products company’s stock valued at $79,592,000 after purchasing an additional 330,231 shares during the last quarter. 91.68% of the stock is owned by hedge funds and other institutional investors.

Mueller Water Products Company Profile

Mueller Water Products, Inc is a leading provider of water infrastructure and flow control products and services designed to help water utilities and municipalities manage, control and measure their water distribution systems. The company’s portfolio includes a comprehensive range of products such as fire hydrants, valves, pipe repair systems, fittings and couplings, along with advanced metering and monitoring solutions. By combining traditional mechanical components with digital technologies, Mueller Water Products addresses the critical need for reliable and sustainable water distribution across North America.

The company’s operations are organized around two primary business segments.