Mueller Water Products, Inc. (NYSE:MWA) declared a quarterly dividend on Wednesday, July 29th, Zacks reports. Investors 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 dividend yield of 2.08%. The ex-dividend date is Friday, August 7th.
Mueller Water Products has raised its dividend payment by an average of 86.4% annually 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. 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 stock traded down $0.16 during trading on Friday, reaching $10.00. The company had a trading volume of 18,851 shares, compared to its average volume of 581,774. The company has a market capitalization of $1.58 billion, a PE ratio of 15.16, a PEG ratio of 2.45 and a beta of 1.32. Mueller Water Products has a one year low of $6.64 and a one year high of $12.71. The firm’s 50 day simple moving average is $9.43 and its two-hundred day simple moving average is $9.87. The company has a debt-to-equity ratio of 0.74, a current ratio of 3.87 and a quick ratio of 2.35.
Mueller Water Products (NYSE:MWA) last released its quarterly earnings data on Monday, May 4th. The industrial products company reported $0.15 EPS for the quarter, topping analysts’ consensus estimates of $0.12 by $0.03. The company had revenue of $257.70 million during the quarter, compared to the consensus estimate 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 earned $0.12 EPS. Analysts forecast that Mueller Water Products will post 0.42 earnings per share for the current year.
MWA has been the subject of a number of analyst reports. Nomura Securities raised their price objective on shares of Mueller Water Products from $10.00 to $11.00 and gave the stock a “buy” rating in a report on Friday, April 17th. Zacks Investment Research raised shares of Mueller Water Products from a “sell” rating to a “hold” rating in a report on Tuesday, July 21st. Goldman Sachs Group raised shares of Mueller Water Products from a “sell” rating to a “neutral” rating in a report on Sunday, April 19th. Nomura reaffirmed a “buy” rating and set a $11.00 price objective on shares of Mueller Water Products in a report on Thursday, April 23rd. Finally, Seaport Global Securities reissued a “buy” rating on shares of Mueller Water Products in a report on Tuesday, May 12th. Seven investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Mueller Water Products currently has a consensus rating of “Hold” and an average price target of $11.00.
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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