ATLANTA - Mueller Water Products, Inc. (NYSE: NYSE:MWA), a prominent player in the North American water infrastructure industry, has announced the declaration of a quarterly dividend. Shareholders on record by February 10, 2025, will be eligible for a dividend of $0.067 per share, which is slated for distribution on or about February 21, 2025. According to InvestingPro data, the company has maintained dividend payments for 19 consecutive years, with a current annual dividend yield of 1.14%.
This move reflects the company’s ongoing commitment to providing returns to its investors. Mueller Water Products, with a market capitalization of $3.71 billion and annual revenue of $1.31 billion, has established itself as a key manufacturer and marketer of products essential for water transmission, distribution, and measurement. The company’s extensive portfolio comprises engineered valves, fire hydrants, pipe connection and repair products, metering products, and advanced solutions for leak detection and pipe condition assessment. Additionally, they offer pressure management products and software that delivers vital data for water systems. InvestingPro analysis indicates the company maintains strong financial health with a current ratio of 3.33, demonstrating robust liquidity.
Mueller Water Products is recognized for assisting municipalities in enhancing operational efficiencies, improving customer service, and strategically allocating capital expenditure. The company’s slogan, "Where Intelligence Meets Infrastructure®," underscores its dedication to integrating smart technologies into essential water infrastructure. Discover more detailed insights and 12 additional ProTips about Mueller Water Products’ performance metrics in the comprehensive Pro Research Report, available exclusively on InvestingPro.
The company, headquartered in Atlanta, operates under the legal structure of Mueller Water Products, Inc., a Delaware corporation, along with its subsidiaries. Each entity within the Mueller Water Products family is independently responsible for its own business activities and obligations.
This dividend announcement is based on a press release statement from Mueller Water Products. The information provided offers shareholders and potential investors insight into the company’s financial distributions without suggesting any broader industry trends or implications.
In other recent news, Mueller Water Products reported record earnings for fiscal year 2024, with fourth-quarter net sales climbing to $348.2 million, a 15.5% increase year-over-year. For the full year, the company’s consolidated net sales surpassed $1.3 billion, driven by robust demand and enhanced customer service. Adjusted net income per share reached a record high of $0.96, up 52% from the previous year. Additionally, the company’s adjusted EBITDA for the quarter grew significantly by 30.9% to $72.5 million.
Mueller Water Products also announced changes to the employment agreement of its CEO, Marietta Edmunds Zakas, modifying certain severance benefits. Zakas will maintain her current compensation structure, including an annual base salary of at least $900,000, a target annual bonus of no less than 110% of her base salary, and a target annual long-term incentive opportunity of no less than 333% of her base salary.
TD Cowen raised the price target on Mueller Water Products’ shares to $23.00, up from the previous $20.00, while maintaining a Hold rating on the stock. This adjustment reflects the sector’s multiples, according to TD Cowen’s analysis. Despite the positive adjustment to the price target, the firm’s EBITDA estimate for fiscal year 2025 for Mueller Water Products is slightly lower compared to the previous model due to a lower than anticipated initial growth guide provided by the company.
On the other hand, 3M Company (NYSE:MMM) reported an 18% rise in non-GAAP earnings per share and a 1% organic revenue growth in the third quarter, leading to an upward revision of the full-year EPS guidance. However, 3M faces substantial challenges, including a $3.6 billion legal settlement paid during the quarter and unresolved liabilities related to per- and polyfluoroalkyl substances (PFAS). Despite these potential headwinds, 3M maintains a positive outlook with strategies focusing on organic growth and strategic divestitures.
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