Trade Report: Today, Mueller Water Products Inc. (MWA) Earns Outperform Rating from Oppenheimer Holdings Inc.

Today, Mueller Water Products Inc. (MWA) Earns Outperform Rating from Oppenheimer Holdings Inc.

Mueller Water Products Inc. (NYSE:MWA)‘s stock had its “outperform” rating reiterated by investment analysts at Oppenheimer Holdings Inc. in a research report issued to clients and investors on Monday. They currently have a $15.00 price target on the stock, up from their previous price target of $13.00. Oppenheimer Holdings Inc.’s price target indicates a potential upside of 12.53% from the stock’s previous close.

Other research analysts have also issued research reports about the stock. Zacks Investment Research raised shares of Mueller Water Products from a “hold” rating to a “buy” rating and set a $14.00 target price on the stock in a research note on Tuesday, August 9th. Northcoast Research upgraded shares of Mueller Water Products from a “neutral” rating to a “buy” rating in a report on Wednesday, October 12th. Finally, DA Davidson boosted their price objective on shares of Mueller Water Products from $11.00 to $12.00 and gave the company a “neutral” rating in a report on Friday, August 5th. Four research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Mueller Water Products currently has an average rating of “Buy” and a consensus price target of $12.58.

Mueller Water Products (NYSE:MWA) traded down 2.84% during mid-day trading on Monday, reaching $13.33. 925,833 shares of the company’s stock traded hands. The stock has a market cap of $2.16 billion, a P/E ratio of 34.18 and a beta of 1.43. Mueller Water Products has a 1-year low of $7.52 and a 1-year high of $13.77. The firm has a 50-day moving average price of $12.41 and a 200-day moving average price of $11.83.

Mueller Water Products (NYSE:MWA) last issued its earnings results on Wednesday, November 2nd. The company reported $0.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.18 by $0.01. The business earned $302.50 million during the quarter, compared to the consensus estimate of $325.14 million. Mueller Water Products had a net margin of 5.61% and a return on equity of 20.57%. The firm’s revenue for the quarter was down 2.9% compared to the same quarter last year. During the same period last year, the business posted $0.14 EPS. Equities research analysts anticipate that Mueller Water Products will post $0.59 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Monday, November 21st. Shareholders of record on Thursday, November 10th were paid a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a yield of 0.90%. The ex-dividend date was Tuesday, November 8th. Mueller Water Products’s payout ratio is currently 30.77%.

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. State Street Corp raised its position in shares of Mueller Water Products by 6.0% in the first quarter. State Street Corp now owns 2,866,175 shares of the company’s stock worth $28,318,000 after buying an additional 163,171 shares during the last quarter. Envestnet Asset Management Inc. raised its position in shares of Mueller Water Products by 0.5% in the first quarter. Envestnet Asset Management Inc. now owns 87,371 shares of the company’s stock worth $863,000 after buying an additional 404 shares during the last quarter. Boothbay Fund Management LLC bought a new position in shares of Mueller Water Products during the first quarter worth $143,000. BNP Paribas Arbitrage SA raised its position in shares of Mueller Water Products by 98.3% in the second quarter. BNP Paribas Arbitrage SA now owns 25,048 shares of the company’s stock worth $286,000 after buying an additional 12,416 shares during the last quarter. Finally, Fox Run Management L.L.C. raised its position in shares of Mueller Water Products by 18.1% in the second quarter. Fox Run Management L.L.C. now owns 18,900 shares of the company’s stock worth $216,000 after buying an additional 2,900 shares during the last quarter. 86.48% of the stock is currently owned by hedge funds and other institutional investors.

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