Mueller Water Products, Inc. (NYSE:MWA – Get Rating) – Investment analysts at Seaport Res Ptn increased their Q3 2023 earnings estimates for shares of Mueller Water Products in a note issued to investors on Monday, May 22nd. Seaport Res Ptn analyst W. Liptak now forecasts that the industrial products company will post earnings per share of $0.19 for the quarter, up from their previous estimate of $0.18. Seaport Res Ptn currently has a “Buy” rating on the stock. The consensus estimate for Mueller Water Products’ current full-year earnings is $0.67 per share. Seaport Res Ptn also issued estimates for Mueller Water Products’ Q4 2023 earnings at $0.20 EPS.
MWA has been the subject of several other reports. Royal Bank of Canada raised their target price on shares of Mueller Water Products from $11.00 to $13.00 and gave the company a “sector perform” rating in a report on Monday, February 6th. DA Davidson restated a “neutral” rating on shares of Mueller Water Products in a report on Wednesday, May 10th. TD Cowen upgraded shares of Mueller Water Products from a “market perform” rating to an “outperform” rating and raised their target price for the company from $11.00 to $19.00 in a report on Friday, May 5th. StockNews.com started coverage on shares of Mueller Water Products in a report on Thursday, May 18th. They set a “hold” rating for the company. Finally, The Goldman Sachs Group raised their price target on shares of Mueller Water Products from $11.00 to $13.00 and gave the stock a “neutral” rating in a research note on Monday, February 6th. Five analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $13.57.
Mueller Water Products Stock Performance
Mueller Water Products (NYSE:MWA – Get Rating) last announced its quarterly earnings results on Monday, May 8th. The industrial products company reported $0.14 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.02). The company had revenue of $332.90 million during the quarter, compared to analysts’ expectations of $332.45 million. Mueller Water Products had a net margin of 5.90% and a return on equity of 12.69%. The business’s revenue for the quarter was up 7.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.15 EPS.
Institutional Investors Weigh In On Mueller Water Products
Hedge funds have recently modified their holdings of the stock. TCI Wealth Advisors Inc. acquired a new stake in shares of Mueller Water Products in the third quarter worth approximately $27,000. Bessemer Group Inc. boosted its position in shares of Mueller Water Products by 409.9% in the first quarter. Bessemer Group Inc. now owns 3,156 shares of the industrial products company’s stock worth $44,000 after acquiring an additional 2,537 shares during the last quarter. Ridgewood Investments LLC acquired a new stake in shares of Mueller Water Products in the first quarter worth approximately $45,000. Tower Research Capital LLC TRC lifted its position in Mueller Water Products by 132.1% during the first quarter. Tower Research Capital LLC TRC now owns 3,291 shares of the industrial products company’s stock valued at $46,000 after buying an additional 1,873 shares in the last quarter. Finally, Global Retirement Partners LLC acquired a new position in Mueller Water Products during the first quarter valued at approximately $53,000. 88.75% of the stock is owned by institutional investors and hedge funds.
Mueller Water Products Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Monday, May 22nd. Investors of record on Wednesday, May 10th were given a $0.061 dividend. The ex-dividend date was Tuesday, May 9th. This represents a $0.24 annualized dividend and a dividend yield of 1.78%. Mueller Water Products’s dividend payout ratio is presently 48.00%.
Mueller Water Products Company Profile
Mueller Water Products, Inc engages in the manufacture and sale of products used in the transmission, distribution, and measurement of water. It operates through the Water Flow Solutions and Water Management Solutions segments. The Water Flow Solutions segment includes iron gate valves, specialty valves, and service brass products.
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