Zacks Investment Research Downgrades Mueller Water Products (NYSE:MWA) to Hold

Zacks Investment Research downgraded shares of Mueller Water Products (NYSE:MWA) from a buy rating to a hold rating in a report published on Wednesday, Zacks.com reports.

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. “

MWA has been the topic of a number of other reports. ValuEngine upgraded shares of Mueller Water Products from a sell rating to a hold rating in a research note on Friday, August 16th. Boenning Scattergood upgraded shares of Mueller Water Products from a neutral rating to an outperform rating in a research note on Tuesday, August 6th. Goldman Sachs Group downgraded shares of Mueller Water Products from a neutral rating to a sell rating and reduced their price objective for the stock from $10.00 to $8.00 in a research note on Wednesday, June 26th. Oppenheimer set a $13.00 price objective on shares of Mueller Water Products and gave the stock a buy rating in a research note on Thursday, September 26th. Finally, TheStreet upgraded shares of Mueller Water Products from a c+ rating to a b- rating in a research note on Friday, September 13th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the company’s stock. The company has an average rating of Hold and a consensus target price of $11.50.

MWA stock opened at $11.47 on Wednesday. The company has a debt-to-equity ratio of 0.79, a quick ratio of 2.00 and a current ratio of 3.15. The company’s 50-day simple moving average is $10.87 and its 200 day simple moving average is $10.19. Mueller Water Products has a 52 week low of $8.47 and a 52 week high of $11.81. The company has a market capitalization of $1.80 billion, a PE ratio of 21.64, a price-to-earnings-growth ratio of 1.14 and a beta of 1.04.

Mueller Water Products (NYSE:MWA) last announced its quarterly earnings data on Monday, August 5th. The industrial products company reported $0.24 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.20 by $0.04. The firm had revenue of $274.30 million for the quarter, compared to the consensus estimate of $274.96 million. Mueller Water Products had a net margin of 5.09% and a return on equity of 17.10%. The business’s revenue for the quarter was up 9.6% on a year-over-year basis. During the same period in the prior year, the company posted $0.19 earnings per share. On average, analysts forecast that Mueller Water Products will post 0.63 EPS for the current year.

In other news, EVP Gregory Rogowski sold 85,839 shares of the stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $10.06, for a total value of $863,540.34. Following the completion of the transaction, the executive vice president now owns 425,473 shares of the company’s stock, valued at $4,280,258.38. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Arsdell Stephen C. Van bought 10,000 shares of the company’s stock in a transaction dated Friday, August 9th. The stock was bought at an average cost of $10.10 per share, with a total value of $101,000.00. Following the acquisition, the director now directly owns 32,000 shares of the company’s stock, valued at approximately $323,200. The disclosure for this purchase can be found here. Corporate insiders own 1.70% of the company’s stock.

Hedge funds have recently bought and sold shares of the company. Resources Investment Advisors LLC. lifted its holdings in shares of Mueller Water Products by 224.2% in the second quarter. Resources Investment Advisors LLC. now owns 5,350 shares of the industrial products company’s stock worth $53,000 after acquiring an additional 3,700 shares during the last quarter. Point72 Hong Kong Ltd bought a new position in shares of Mueller Water Products in the second quarter worth about $83,000. Fox Run Management L.L.C. bought a new position in shares of Mueller Water Products in the third quarter worth about $112,000. Belpointe Asset Management LLC bought a new position in shares of Mueller Water Products in the first quarter worth about $102,000. Finally, Paloma Partners Management Co bought a new position in shares of Mueller Water Products in the second quarter worth about $103,000. 86.85% of the stock is owned by hedge funds and other institutional investors.

Mueller Water Products Company Profile

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 in two segments, Infrastructure and Technologies. The Infrastructure segment offers valves for water and gas systems, including butterfly, iron gate, 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; and machines and tools for tapping, drilling, extracting, installing, and stopping-off.

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