Mueller Water Products (NYSE:MWA) Upgraded at Northcoast Research

Northcoast Research upgraded shares of Mueller Water Products (NYSE:MWAGet Rating) from a neutral rating to a buy rating in a research note issued to investors on Monday morning, MarketBeat reports.

Several other analysts have also recently commented on MWA. Deutsche Bank Aktiengesellschaft dropped their price target on Mueller Water Products from $12.00 to $10.00 and set a hold rating for the company in a research report on Thursday, October 20th. Cowen dropped their price target on Mueller Water Products to $11.00 in a research report on Friday, September 30th. TheStreet cut Mueller Water Products from a b- rating to a c+ rating in a research report on Monday, October 10th. Finally, StockNews.com initiated coverage on Mueller Water Products in a research report on Wednesday, October 12th. They set a hold rating for the company.

Mueller Water Products Trading Down 1.3 %

Shares of MWA stock opened at $11.59 on Monday. The company has a debt-to-equity ratio of 0.67, a current ratio of 2.82 and a quick ratio of 2.02. The company has a market cap of $1.81 billion, a price-to-earnings ratio of 23.65, a PEG ratio of 1.46 and a beta of 1.29. The stock has a 50 day simple moving average of $10.95 and a 200-day simple moving average of $11.52. Mueller Water Products has a 1-year low of $9.90 and a 1-year high of $14.63.

Mueller Water Products Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, November 21st. Shareholders of record on Thursday, November 10th were issued a $0.061 dividend. This is a boost from Mueller Water Products’s previous quarterly dividend of $0.06. This represents a $0.24 annualized dividend and a yield of 2.11%. The ex-dividend date of this dividend was Wednesday, November 9th. Mueller Water Products’s dividend payout ratio is presently 48.98%.

Institutional Trading of Mueller Water Products

Several large investors have recently added to or reduced their stakes in the stock. BlackRock Inc. grew its holdings in Mueller Water Products by 1.1% in the 3rd quarter. BlackRock Inc. now owns 11,998,357 shares of the industrial products company’s stock valued at $123,225,000 after buying an additional 134,558 shares in the last quarter. Nuance Investments LLC grew its holdings in shares of Mueller Water Products by 42.4% during the 2nd quarter. Nuance Investments LLC now owns 10,658,826 shares of the industrial products company’s stock worth $125,028,000 after purchasing an additional 3,173,924 shares during the period. Dimensional Fund Advisors LP grew its holdings in shares of Mueller Water Products by 0.3% during the 3rd quarter. Dimensional Fund Advisors LP now owns 5,200,300 shares of the industrial products company’s stock worth $53,408,000 after purchasing an additional 17,773 shares during the period. Eaton Vance Management grew its holdings in shares of Mueller Water Products by 21.0% during the 1st quarter. Eaton Vance Management now owns 3,984,187 shares of the industrial products company’s stock worth $51,476,000 after purchasing an additional 690,788 shares during the period. Finally, State Street Corp grew its holdings in shares of Mueller Water Products by 3.2% during the 1st quarter. State Street Corp now owns 3,483,104 shares of the industrial products company’s stock worth $45,002,000 after purchasing an additional 109,494 shares during the period. 88.56% of the stock is currently owned by hedge funds and other institutional investors.

About Mueller Water Products

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Mueller Water Products Inc manufactures and markets products and services used in the transmission, distribution, and measurement of water in North America and internationally. Its products and services are used by municipalities, and the residential and non-residential construction industries. It operates through two segments, Infrastructure and Technologies.

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