Mueller Water Products (NYSE:MWA) Downgraded by Zacks Investment Research

Mueller Water Products (NYSE:MWA) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued 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. “

MWA has been the subject of several other research reports. Seaport Global Securities set a $12.00 price objective on shares of Mueller Water Products and gave the stock a “buy” rating in a research report on Wednesday, August 7th. Boenning Scattergood raised shares of Mueller Water Products from a “neutral” rating to an “outperform” rating in a research report on Tuesday, August 6th. TheStreet raised shares of Mueller Water Products from a “c+” rating to a “b-” rating in a research report on Friday, September 13th. Oppenheimer set a $13.00 price target on shares of Mueller Water Products and gave the company a “buy” rating in a report on Thursday, September 26th. Finally, ValuEngine raised shares of Mueller Water Products from a “sell” rating to a “hold” rating in a report on Friday, August 16th. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $11.50.

NYSE:MWA traded down $0.03 during trading hours on Friday, reaching $11.15. 698,609 shares of the company were exchanged, compared to its average volume of 884,424. Mueller Water Products has a 52-week low of $8.47 and a 52-week high of $12.26. The stock has a 50 day simple moving average of $11.30 and a 200 day simple moving average of $10.30. The firm has a market cap of $1.76 billion, a price-to-earnings ratio of 18.28, a PEG ratio of 1.21 and a beta of 1.00. The company has a debt-to-equity ratio of 0.79, a current ratio of 3.15 and a quick ratio of 2.00.

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

In other Mueller Water Products news, EVP Gregory Rogowski sold 85,839 shares of the stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $10.06, for a total transaction of $863,540.34. Following the transaction, the executive vice president now directly owns 425,473 shares in the company, valued at approximately $4,280,258.38. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 1.70% of the company’s stock.

Several institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. lifted its position in shares of Mueller Water Products by 0.7% in the 2nd 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 last quarter. Impax Asset Management Group plc lifted its position in shares of Mueller Water Products by 24.1% in the 2nd 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 last quarter. Amundi Pioneer Asset Management Inc. lifted its position in shares of Mueller Water Products by 52.0% in the 2nd 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 last quarter. Cramer Rosenthal Mcglynn LLC lifted its position in shares of Mueller Water Products by 12.9% in the 2nd 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 last quarter. Finally, Invesco Ltd. lifted its position in shares of Mueller Water Products by 5.2% in the 2nd 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 last quarter. Institutional investors 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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