Mueller Water Products, Inc. (MWA) To Go Ex-Dividend on November 8th

Mueller Water Products, Inc. (NYSE:MWA) announced a dividend on Tuesday, October 22nd, NASDAQ reports. Investors of record on Friday, November 8th will be paid a dividend of 0.067 per share by the industrial products company on Wednesday, November 20th. The ex-dividend date of this dividend is Friday, November 8th.

Mueller Water Products has increased its dividend by an average of 5.1% per year over the last three years. Mueller Water Products has a payout ratio of 25.0% meaning its dividend is sufficiently covered by earnings. Research analysts expect Mueller Water Products to earn $1.06 per share next year, which means the company should continue to be able to cover its $0.26 annual dividend with an expected future payout ratio of 24.5%.

Mueller Water Products Trading Down 0.2 %

Shares of MWA opened at $22.03 on Thursday. The company’s fifty day moving average is $21.18 and its 200 day moving average is $19.21. Mueller Water Products has a fifty-two week low of $12.13 and a fifty-two week high of $23.12. The stock has a market capitalization of $3.43 billion, a PE ratio of 34.42, a P/E/G ratio of 1.39 and a beta of 1.34. The company has a debt-to-equity ratio of 0.57, a quick ratio of 2.31 and a current ratio of 3.70.

Mueller Water Products (NYSE:MWA) last announced its quarterly earnings results on Monday, August 5th. The industrial products company reported $0.32 earnings per share for the quarter, topping the consensus estimate of $0.22 by $0.10. Mueller Water Products had a net margin of 9.71% and a return on equity of 19.46%. The company had revenue of $356.70 million for the quarter, compared to analysts’ expectations of $329.67 million. During the same quarter in the previous year, the business posted $0.18 earnings per share. Mueller Water Products’s quarterly revenue was up 9.2% on a year-over-year basis. Sell-side analysts expect that Mueller Water Products will post 0.93 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on MWA shares. TD Cowen cut shares of Mueller Water Products from a “buy” rating to a “hold” rating and boosted their price objective for the company from $19.00 to $20.00 in a research report on Friday, August 9th. Royal Bank of Canada boosted their price objective on shares of Mueller Water Products from $20.00 to $23.00 and gave the company a “sector perform” rating in a research report on Wednesday, August 7th. StockNews.com raised shares of Mueller Water Products from a “buy” rating to a “strong-buy” rating in a research note on Tuesday. Finally, Oppenheimer boosted their target price on shares of Mueller Water Products from $22.00 to $24.00 and gave the company an “outperform” rating in a research note on Wednesday, August 7th. Five research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Mueller Water Products currently has a consensus rating of “Hold” and an average price target of $21.60.

Insider Buying and Selling

In related news, insider J Scott Hall sold 135,253 shares of the company’s stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $20.34, for a total value of $2,751,046.02. Following the completion of the sale, the insider now directly owns 544,029 shares of the company’s stock, valued at $11,065,549.86. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Mueller Water Products news, Director Thomas J. Hansen sold 10,791 shares of the stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $20.55, for a total transaction of $221,755.05. Following the completion of the sale, the director now directly owns 102,792 shares of the company’s stock, valued at approximately $2,112,375.60. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider J Scott Hall sold 135,253 shares of the stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $20.34, for a total transaction of $2,751,046.02. Following the sale, the insider now directly owns 544,029 shares of the company’s stock, valued at approximately $11,065,549.86. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 256,869 shares of company stock valued at $5,141,842 over the last three months. 1.40% of the stock is owned by company insiders.

Mueller Water Products Company Profile

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.