Mueller Water Products (NYSE:MWA) Shares Gap Up – Here’s What Happened

Mueller Water Products, Inc. (NYSE:MWA)’s share price gapped up before the market opened on Monday . The stock had previously closed at $25.05, but opened at $25.60. Mueller Water Products shares last traded at $26.30, with a volume of 792,945 shares traded.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the stock. Royal Bank of Canada increased their target price on shares of Mueller Water Products from $25.00 to $29.00 and gave the stock a “sector perform” rating in a research report on Thursday, February 6th. The Goldman Sachs Group increased their target price on Mueller Water Products from $26.00 to $29.00 and gave the stock a “neutral” rating in a report on Thursday, February 6th. Five equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $25.80.

Mueller Water Products Price Performance

The company has a market capitalization of $4.25 billion, a price-to-earnings ratio of 31.52, a PEG ratio of 1.43 and a beta of 1.39. The company has a current ratio of 3.83, a quick ratio of 2.38 and a debt-to-equity ratio of 0.54. The company has a 50 day moving average price of $24.28 and a 200 day moving average price of $23.23.

Mueller Water Products (NYSE:MWA) last announced its quarterly earnings data on Tuesday, February 4th. The industrial products company reported $0.25 EPS for the quarter, topping analysts’ consensus estimates of $0.19 by $0.06. Mueller Water Products had a return on equity of 21.18% and a net margin of 10.05%. During the same period last year, the business earned $0.13 earnings per share. As a group, equities research analysts forecast that Mueller Water Products, Inc. will post 1.24 earnings per share for the current year.

Mueller Water Products Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 21st. Investors of record on Monday, February 10th were issued a $0.067 dividend. The ex-dividend date was Monday, February 10th. This represents a $0.27 annualized dividend and a yield of 0.99%. Mueller Water Products’s dividend payout ratio is currently 30.23%.

Insider Buying and Selling at Mueller Water Products

In other news, Director Brian Slobodow sold 11,132 shares of the stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $24.73, for a total value of $275,294.36. Following the transaction, the director now owns 7,376 shares of the company’s stock, valued at $182,408.48. This represents a 60.15 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 1.10% of the company’s stock.

Hedge Funds Weigh In On Mueller Water Products

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Optiver Holding B.V. acquired a new stake in shares of Mueller Water Products in the 4th quarter valued at approximately $29,000. Tower Research Capital LLC TRC raised its holdings in Mueller Water Products by 171.8% in the fourth quarter. Tower Research Capital LLC TRC now owns 1,761 shares of the industrial products company’s stock worth $40,000 after purchasing an additional 1,113 shares during the period. Millstone Evans Group LLC acquired a new position in shares of Mueller Water Products in the 4th quarter valued at $63,000. Gen Wealth Partners Inc acquired a new position in shares of Mueller Water Products in the 4th quarter valued at $65,000. Finally, R Squared Ltd bought a new stake in shares of Mueller Water Products in the 4th quarter valued at $100,000. Institutional investors own 91.68% of the company’s stock.

About Mueller Water Products

Mueller Water Products, Inc manufactures and markets products and services for the transmission, distribution, and measurement of water used by municipalities, and the residential and non-residential construction industries in the United States, Israel, and internationally. It operates in two segments, Water Flow Solutions and Water Management Solutions.