In a recent transaction, Todd P. Helms, the Senior Vice President and Chief Human Resources Officer of Mueller Water Products, Inc. (NYSE:MWA), sold a significant portion of his holdings. On December 2, Helms sold 57,948 shares of the company's common stock at an average price of $25.69 per share, totaling approximately $1.49 million. The sale comes as Mueller Water Products, with a market capitalization of $3.96 billion, has seen its stock surge 90% over the past year. According to InvestingPro analysis, the company maintains a GREAT financial health score, though the stock currently trades above its Fair Value.
In addition to the stock sale, Helms engaged in several stock option exercises on the same day. These exercises included acquiring 26,145 shares at $13.64 per share, 11,329 shares at $11.41 per share, 11,005 shares at $11.86 per share, and 9,469 shares at $13.22 per share. The total value of these option exercises amounted to $741,581, with price ranges between $11.41 and $13.64.
Following these transactions, Helms now holds 43,223.76 shares of Mueller Water Products, as reported in the filing.
In other recent news, Mueller Water Products has seen a price target adjustment to $23 by TD Cowen, reflecting the sector's multiples according to the firm's analysis. This comes after the company reported record earnings for fiscal year 2024, with fourth-quarter net sales rising to $348.2 million, a 15.5% increase year-over-year, and consolidated net sales exceeding $1.3 billion for the full year. Adjusted net income per share also reached a record high of $0.96, up 52% from the previous year.
Despite a reported $16.3 million non-cash goodwill impairment and increased warranty expenses, Mueller Water Products' fiscal 2025 projections include consolidated net sales between $1.34 billion and $1.36 billion, and adjusted EBITDA between $300 million and $305 million. The company's adjusted EBITDA for the quarter also grew significantly by 30.9% to $72.5 million.
TD Cowen's adjustment also reflects the increase in earnings per share (EPS) for Mueller Water Products due to a reduction in amortization expenses, as customer-related intangibles were removed from the company's financial statements. However, the firm's EBITDA estimate for fiscal year 2025 for Mueller Water Products is slightly lower compared to the previous model, attributed to a lower than anticipated initial growth guide provided by the company. Despite this, savings are expected from the facility's base case ramp, indicating potential future financial improvements for Mueller Water Products.
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