Mueller Water Products, Inc. (NYSE:MWA) Short Interest Update

Mueller Water Products, Inc. (NYSE:MWA) was the recipient of a significant increase in short interest in the month of November. As of November 29th, there was short interest totalling 2,200,000 shares, an increase of 22.9% from the November 14th total of 1,790,000 shares. Currently, 1.4% of the shares of the company are sold short. Based on an average daily volume of 778,100 shares, the days-to-cover ratio is presently 2.8 days.

A number of research analysts have issued reports on MWA shares. TheStreet raised Mueller Water Products from a “c+” rating to a “b-” rating in a report on Friday, September 13th. ValuEngine raised Mueller Water Products from a “sell” rating to a “hold” rating in a report on Friday, August 16th. Zacks Investment Research cut Mueller Water Products from a “hold” rating to a “sell” rating in a report on Friday, November 8th. Finally, Oppenheimer set a $13.00 price objective on Mueller Water Products and gave the company a “buy” rating in a report on Thursday, September 26th. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $11.50.

In other Mueller Water Products news, CFO Marietta Edmunds Zakas sold 34,965 shares of Mueller Water Products stock in a transaction on Monday, November 18th. The stock was sold at an average price of $10.93, for a total transaction of $382,167.45. Following the completion of the transaction, the chief financial officer now directly owns 278,864 shares of the company’s stock, valued at $3,047,983.52. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Shirley C. Franklin sold 12,808 shares of Mueller Water Products stock in a transaction on Monday, November 25th. The shares were sold at an average price of $11.12, for a total value of $142,424.96. Following the transaction, the director now directly owns 40,084 shares of the company’s stock, valued at $445,734.08. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 64,787 shares of company stock valued at $726,560. 1.70% of the stock is owned by company insiders.

Large investors have recently made changes to their positions in the company. California State Teachers Retirement System increased its stake in shares of Mueller Water Products by 1.2% in the third quarter. California State Teachers Retirement System now owns 244,609 shares of the industrial products company’s stock valued at $2,749,000 after buying an additional 2,921 shares in the last quarter. Bank of New York Mellon Corp increased its stake in shares of Mueller Water Products by 1.7% in the second quarter. Bank of New York Mellon Corp now owns 1,222,061 shares of the industrial products company’s stock valued at $12,001,000 after buying an additional 19,878 shares in the last quarter. California Public Employees Retirement System increased its stake in shares of Mueller Water Products by 30.9% in the third quarter. California Public Employees Retirement System now owns 304,483 shares of the industrial products company’s stock valued at $3,422,000 after buying an additional 71,806 shares in the last quarter. Millennium Management LLC increased its stake in shares of Mueller Water Products by 33,427.4% in the third quarter. Millennium Management LLC now owns 2,997,016 shares of the industrial products company’s stock valued at $33,686,000 after buying an additional 2,988,077 shares in the last quarter. Finally, Essex Investment Management Co. LLC increased its stake in shares of Mueller Water Products by 17.9% in the third quarter. Essex Investment Management Co. LLC now owns 49,538 shares of the industrial products company’s stock valued at $557,000 after buying an additional 7,520 shares in the last quarter. Institutional investors own 86.51% of the company’s stock.

Shares of NYSE:MWA traded down $0.23 during midday trading on Friday, reaching $11.66. The company’s stock had a trading volume of 1,563,410 shares, compared to its average volume of 699,433. Mueller Water Products has a fifty-two week low of $8.47 and a fifty-two week high of $12.26. The company has a market capitalization of $1.88 billion, a P/E ratio of 19.23, a P/E/G ratio of 1.54 and a beta of 0.99. The company has a debt-to-equity ratio of 0.75, a current ratio of 3.18 and a quick ratio of 2.10. The business’s fifty day simple moving average is $11.42 and its 200-day simple moving average is $10.53.

Mueller Water Products (NYSE:MWA) last announced its earnings results on Tuesday, November 5th. The industrial products company reported $0.19 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.20 by ($0.01). Mueller Water Products had a net margin of 6.59% and a return on equity of 17.39%. The business had revenue of $266.90 million during the quarter, compared to analyst estimates of $279.05 million. During the same quarter last year, the business posted $0.17 earnings per share. The business’s quarterly revenue was up 5.0% compared to the same quarter last year. On average, analysts forecast that Mueller Water Products will post 0.65 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 20th. Stockholders of record on Friday, November 8th were paid a $0.052 dividend. The ex-dividend date was Thursday, November 7th. This represents a $0.21 dividend on an annualized basis and a dividend yield of 1.78%. Mueller Water Products’s dividend payout ratio (DPR) is presently 34.43%.

About Mueller Water Products

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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