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Mueller Water Products Inc (NYSE:MWA) has reached an all-time high, with its stock price soaring to $28.26. This milestone underscores a period of significant growth for the company, which now commands a market capitalization of $4.4 billion and boasts a "GREAT" financial health rating according to InvestingPro. The company’s strong performance, marked by nearly 12% revenue growth, reflects investors’ confidence in its market position and future prospects, though current valuations suggest the stock may be trading above its Fair Value. Over the past year, MWA has witnessed an impressive 81.91% increase in its stock value, supported by its consistent dividend payments maintained for 20 consecutive years and robust P/E ratio of 32.12. This remarkable ascent to an all-time high price level marks a notable achievement for Mueller Water Products Inc, as it continues to expand its presence and impact within the water infrastructure industry. InvestingPro subscribers can access 12 additional key insights and a comprehensive Pro Research Report that provides deep-dive analysis of MWA’s valuation and growth prospects.
In other recent news, Mueller Water Products announced the approval of significant corporate proposals during its annual shareholder meeting. The election of nine directors, approval of executive compensation, and ratification of the company’s independent auditors were among the key items endorsed by shareholders. The amendment and restatement of the 2006 Employee Stock Purchase Plan and the 2006 Stock Incentive Plan also received strong backing. Furthermore, Ernst & Young LLP was ratified as the independent registered public accounting firm for fiscal 2025. In a separate development, Mueller Water Products declared a quarterly dividend of $0.067 per share, payable to shareholders on record by February 10, 2025, with distribution expected around February 21, 2025. This dividend declaration reflects the company’s commitment to providing returns to its investors. These recent developments indicate continued confidence in Mueller Water Products’ governance and financial strategies.
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