Mueller Water Products, Inc. (NYSE:MWA – Get Rating) announced a quarterly dividend on Friday, October 21, Zacks reports. Shareholders of record on Thursday, November 10 will receive a dividend of 0.061 per share from the industrial products company on Monday, November 21. This represents an annualized dividend of $0.24 and a dividend yield of 2.12%. The ex-date of this dividend is Wednesday, November 9. This is a positive change from Mueller Water Products’ previous quarterly dividend of $0.06.
Mueller Water Products has increased its dividend payout by an average of 3.7% per year over the past three years and has increased its dividend every year for the past 8 years. Mueller Water Products has a dividend payout ratio of 35.8%, indicating that its dividend is sufficiently covered by earnings. Stock analysts expect Mueller Water Products to earn $0.68 per share next year, meaning the company should continue to be able to cover its annual dividend of $0.24 with a ratio of expected future payout of 35.3%.
Stock of Mueller water products up 1.3%
MWA shares opened at $11.49 on Monday. The company has a market capitalization of $1.80 billion, a price/earnings ratio of 20.52, a PEG ratio of 1.41 and a beta of 1.29. Mueller Water Products has a one-year low of $9.90 and a one-year high of $17.37. The company’s fifty-day moving average price is $10.89 and its 200-day moving average price is $11.59. The company has a debt ratio of 0.63, a current ratio of 3.26 and a quick ratio of 2.02.
Mueller Water Products (NYSE:MWA – Get Rating) last reported quarterly results on Thursday, August 4. The industrial products company reported earnings per share (EPS) of $0.19 for the quarter, missing analyst consensus estimates of $0.20 per ($0.01). The company posted revenue of $333.20 million in the quarter, versus a consensus estimate of $330.29 million. Mueller Water Products achieved a net margin of 7.25% and a return on equity of 13.67%. The company’s revenue increased 7.3% year over year. In the same quarter a year earlier, the company posted earnings per share of $0.18. Sell-side analysts expect Mueller Water Products to post 0.61 EPS for the current fiscal year.
Wall Street analysts predict growth
A number of analysts have published reports on MWA shares. Northcoast Research began covering shares of Mueller Water Products in a report on Friday, July 15. They issued a “neutral” rating on the title. StockNews.com began covering Mueller Water Products stocks in a Wednesday, October 12, report. They issued a “hold” rating on the stock. Cowen lowered his price target on shares of Mueller Water Products to $11.00 in a Friday, September 30 research note. TheStreet upgraded shares of Mueller Water Products from a “b-” to a “c+” rating in a Monday, October 10 research note. Finally, Deutsche Bank Aktiengesellschaft lowered its price target on Mueller Water Products shares from $12.00 to $10.00 and set a “hold” rating for the company in a Thursday, Oct. 20 research note. . According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $11.33.
Insiders place their bets
In other Mueller Water Products news, Director Thomas J. Hansen sold 12,578 shares of Mueller Water Products in a trade on Friday August 12th. The shares were sold at an average price of $12.00, for a total value of $150,936.00. Following completion of the transaction, the director now directly owns 82,088 shares of the company, valued at approximately $985,056. The sale was disclosed in a filing with the Securities & Exchange Commission, accessible via this link. Company insiders own 1.50% of the company’s shares.
Institutional entries and exits
Several large investors have recently changed their holdings in MWA. Legal & General Group Plc raised its position in Mueller Water Products shares by 5.5% in the second quarter. Legal & General Group Plc now owns 673,921 shares of the industrial products company valued at $7,905,000 after buying an additional 35,248 shares in the last quarter. Jane Street Group LLC increased its position in Mueller Water Products by 5.2% during the second quarter. Jane Street Group LLC now owns 46,613 shares of the industrial products company worth $547,000 after acquiring 2,288 additional shares during the period. Voya Investment Management LLC increased its stake in Mueller Water Products by 281.0% during the 2nd quarter. Voya Investment Management LLC now owns 298,982 shares of the industrial products company valued at $3,507,000 after purchasing an additional 220,505 shares in the last quarter. UBS Asset Management Americas Inc. increased its stake in Mueller Water Products shares by 4.8% in the second quarter. UBS Asset Management Americas Inc. now owns 207,215 shares of the industrial products company valued at $2,431,000 after purchasing an additional 9,419 shares during the period. Finally, Renaissance Technologies LLC increased its equity stake in Mueller Water Products by 94.7% during the second quarter. Renaissance Technologies LLC now owns 129,300 shares of the industrial products company worth $1,517,000 after purchasing an additional 62,900 shares during the period. Institutional investors hold 88.56% of the company’s shares.
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 abroad. 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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