Mueller Water Products, Inc. (NYSE:MWA) announced a quarterly dividend on Wednesday, July 29th, Zacks reports. Shareholders of record on Monday, August 10th will be paid a dividend of 0.052 per share by the industrial products company on Thursday, August 20th. This represents a $0.21 dividend on an annualized basis and a yield of 2.08%. The ex-dividend date of this dividend is Friday, August 7th.
Mueller Water Products has raised its dividend payment by an average of 86.4% per year over the last three years and has raised its dividend annually for the last 5 consecutive years. Mueller Water Products has a dividend payout ratio of 51.2% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Mueller Water Products to earn $0.50 per share next year, which means the company should continue to be able to cover its $0.21 annual dividend with an expected future payout ratio of 42.0%.
Shares of MWA traded down $0.16 during mid-day trading on Friday, hitting $10.00. The company’s stock had a trading volume of 23,182 shares, compared to its average volume of 581,774. The company has a debt-to-equity ratio of 0.74, a current ratio of 3.87 and a quick ratio of 2.35. The firm has a 50-day moving average price of $9.43 and a 200 day moving average price of $9.87. Mueller Water Products has a fifty-two week low of $6.64 and a fifty-two week high of $12.71. The stock has a market capitalization of $1.58 billion, a price-to-earnings ratio of 15.16, a PEG ratio of 2.45 and a beta of 1.32.
Mueller Water Products (NYSE:MWA) last issued its earnings results on Monday, May 4th. The industrial products company reported $0.15 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.12 by $0.03. The firm had revenue of $257.70 million during the quarter, compared to analysts’ expectations of $240.67 million. Mueller Water Products had a net margin of 10.68% and a return on equity of 17.67%. The firm’s revenue for the quarter was up 10.1% compared to the same quarter last year. During the same period last year, the firm posted $0.12 earnings per share. As a group, equities analysts anticipate that Mueller Water Products will post 0.42 EPS for the current fiscal year.
MWA has been the topic of a number of recent analyst reports. Robert W. Baird boosted their target price on Mueller Water Products from $9.00 to $11.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 6th. Oppenheimer restated a “buy” rating and set a $12.00 price objective on shares of Mueller Water Products in a report on Monday, May 4th. Seaport Global Securities reiterated a “buy” rating on shares of Mueller Water Products in a report on Tuesday, May 12th. Nomura reissued a “buy” rating and issued a $11.00 target price on shares of Mueller Water Products in a research report on Thursday, April 23rd. Finally, Nomura Securities upped their price target on shares of Mueller Water Products from $10.00 to $11.00 and gave the company a “buy” rating in a research report on Friday, April 17th. Seven investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $11.00.
Mueller Water Products Company Profile
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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