Zacks Investment Research Downgrades Mueller Water Products (NYSE:MWA) to Sell

Mueller Water Products (NYSE:MWA) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued to investors on Friday, Zacks.com reports.

According to Zacks, “Mueller Water Products, Inc. manufactures and markets products and services that are used in the transmission and distribution of safe, clean drinking water and in water treatment facilities. Their broad product portfolio includes engineered valves, fire hydrants, pipe fittings, water meters and ductile iron pipe, which are used by municipalities, as well as the residential and non-residential construction industries. “

Other research analysts have also issued reports about the stock. Boenning Scattergood upgraded shares of Mueller Water Products from a “neutral” rating to an “outperform” rating in a research note on Tuesday, August 6th. Seaport Global Securities set a $12.00 price objective on shares of Mueller Water Products and gave the company a “buy” rating in a research note on Wednesday, August 7th. TheStreet upgraded shares of Mueller Water Products from a “c+” rating to a “b-” rating in a research note on Friday, September 13th. ValuEngine upgraded shares of Mueller Water Products from a “sell” rating to a “hold” rating in a research note on Friday, August 16th. Finally, Oppenheimer set a $13.00 price objective on shares of Mueller Water Products and gave the company a “buy” rating in a research note on Thursday, September 26th. Two research analysts have rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the company. Mueller Water Products has an average rating of “Hold” and an average price target of $11.50.

MWA traded down $0.03 on Friday, reaching $11.15. The company had a trading volume of 698,609 shares, compared to its average volume of 884,424. The company has a quick ratio of 2.00, a current ratio of 3.15 and a debt-to-equity ratio of 0.79. The stock has a market capitalization of $1.76 billion, a PE ratio of 18.28, a P/E/G ratio of 1.21 and a beta of 1.00. Mueller Water Products has a 1 year low of $8.47 and a 1 year high of $12.26. The stock has a 50-day moving average price of $11.30 and a 200-day moving average price of $10.30.

Mueller Water Products (NYSE:MWA) last posted its quarterly earnings data on Tuesday, November 5th. The industrial products company reported $0.19 EPS for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.01). The business had revenue of $266.90 million during the quarter, compared to analyst estimates of $279.05 million. Mueller Water Products had a net margin of 6.59% and a return on equity of 17.71%. The company’s revenue for the quarter was up 5.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.17 earnings per share. As a group, analysts expect that Mueller Water Products will post 0.67 earnings per share for the current fiscal year.

In other Mueller Water Products news, EVP Gregory Rogowski sold 85,839 shares of Mueller Water Products stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $10.06, for a total value of $863,540.34. Following the transaction, the executive vice president now directly owns 425,473 shares in the company, valued at $4,280,258.38. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 1.70% of the company’s stock.

Several institutional investors have recently modified their holdings of the company. Vanguard Group Inc. grew its position in Mueller Water Products by 0.7% during the second quarter. Vanguard Group Inc. now owns 14,252,157 shares of the industrial products company’s stock worth $139,957,000 after buying an additional 105,246 shares during the period. Impax Asset Management Group plc grew its position in Mueller Water Products by 24.1% during the second quarter. Impax Asset Management Group plc now owns 11,220,838 shares of the industrial products company’s stock worth $110,189,000 after buying an additional 2,177,793 shares during the period. Amundi Pioneer Asset Management Inc. grew its position in Mueller Water Products by 52.0% during the second quarter. Amundi Pioneer Asset Management Inc. now owns 3,307,166 shares of the industrial products company’s stock worth $199,604,000 after buying an additional 1,131,787 shares during the period. Cramer Rosenthal Mcglynn LLC grew its position in Mueller Water Products by 12.9% during the second quarter. Cramer Rosenthal Mcglynn LLC now owns 2,540,121 shares of the industrial products company’s stock worth $24,944,000 after buying an additional 291,200 shares during the period. Finally, Invesco Ltd. grew its position in Mueller Water Products by 5.2% during the second quarter. Invesco Ltd. now owns 2,227,820 shares of the industrial products company’s stock worth $21,877,000 after buying an additional 110,391 shares during the period. Institutional investors and hedge funds own 87.14% of the company’s stock.

About Mueller Water Products

Mueller Water Products, Inc manufactures and markets products and services for use in the transmission, distribution, and measurement of water in the United States, Canada, and internationally. It operates in two segments, Infrastructure and Technologies. The Infrastructure segment offers valves for water and gas systems, including butterfly, iron gate, tapping, check, knife, plug, automatic control, and ball valves; dry-barrel and wet-barrel fire hydrants; pipe repair products, such as clamps and couplings used to repair leaks under the Mueller and Jones brand names; and machines and tools for tapping, drilling, extracting, installing, and stopping-off.

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