Mueller Water Products (NYSE:MWA) Trading 8.6% Higher on Strong Earnings

Mueller Water Products, Inc. (NYSE:MWA - Get Free Report) shares shot up 8.6% during trading on Wednesday following a stronger than expected earnings report. The company traded as high as $24.40 and last traded at $25.07. 132,868 shares changed hands during trading, a decline of 89% from the average session volume of 1,161,874 shares. The stock had previously closed at $23.08.

The industrial products company reported $0.25 EPS for the quarter, topping the consensus estimate of $0.19 by $0.06. Mueller Water Products had a net margin of 10.05% and a return on equity of 21.18%. During the same quarter last year, the firm posted $0.13 earnings per share.

Mueller Water Products Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 21st. Stockholders of record on Monday, February 10th will be given a $0.067 dividend. The ex-dividend date of this dividend is Monday, February 10th. This represents a $0.27 dividend on an annualized basis and a dividend yield of 0.98%. Mueller Water Products's payout ratio is 31.40%.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the company. StockNews.com lowered Mueller Water Products from a "strong-buy" rating to a "buy" rating in a research report on Wednesday, October 30th. Royal Bank of Canada upped their price objective on shares of Mueller Water Products from $25.00 to $29.00 and gave the company a "sector perform" rating in a report on Thursday. The Goldman Sachs Group lifted their target price on shares of Mueller Water Products from $26.00 to $29.00 and gave the stock a "neutral" rating in a research note on Thursday. Finally, Oppenheimer restated an "outperform" rating and set a $27.00 price target (up previously from $26.00) on shares of Mueller Water Products in a research note on Friday, November 8th. Five equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $25.80.

Insider Activity at Mueller Water Products

In related news, SVP Todd P. Helms sold 57,948 shares of the business's stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $25.69, for a total value of $1,488,684.12. Following the completion of the transaction, the senior vice president now directly owns 43,224 shares in the company, valued at $1,110,424.56. The trade was a 57.28 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Lydia W. Thomas sold 10,791 shares of the firm's stock in a transaction on Monday, November 18th. The shares were sold at an average price of $24.40, for a total transaction of $263,300.40. Following the sale, the director now owns 136,405 shares in the company, valued at approximately $3,328,282. This represents a 7.33 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 98,433 shares of company stock worth $2,494,144 over the last quarter. Insiders own 1.10% of the company's stock.

Institutional Investors Weigh In On Mueller Water Products

Several hedge funds have recently modified their holdings of MWA. V Square Quantitative Management LLC acquired a new position in Mueller Water Products in the 3rd quarter worth about $26,000. R Squared Ltd purchased a new stake in shares of Mueller Water Products in the fourth quarter valued at approximately $100,000. Blue Trust Inc. raised its stake in shares of Mueller Water Products by 434.6% during the 3rd quarter. Blue Trust Inc. now owns 4,892 shares of the industrial products company's stock worth $106,000 after buying an additional 3,977 shares during the period. TD Private Client Wealth LLC lifted its position in shares of Mueller Water Products by 468.1% during the 3rd quarter. TD Private Client Wealth LLC now owns 5,408 shares of the industrial products company's stock valued at $117,000 after buying an additional 4,456 shares in the last quarter. Finally, National Bank of Canada FI grew its stake in Mueller Water Products by 36.9% in the 3rd quarter. National Bank of Canada FI now owns 6,514 shares of the industrial products company's stock valued at $141,000 after acquiring an additional 1,757 shares during the period. 91.68% of the stock is owned by hedge funds and other institutional investors.

Mueller Water Products Stock Performance

The company has a current ratio of 3.83, a quick ratio of 2.16 and a debt-to-equity ratio of 0.54. The company has a market cap of $4.28 billion, a PE ratio of 31.78, a price-to-earnings-growth ratio of 1.56 and a beta of 1.38. The firm's fifty day moving average is $23.55 and its 200 day moving average is $22.40.

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.