Suzanne G. Smith, Vice President and Chief Accounting Officer at Mueller Water Products, Inc. (NYSE:MWA), recently sold a significant portion of her holdings in the company. The transaction comes as Mueller Water Products has seen remarkable performance, with the stock up over 75% year-to-date according to InvestingPro data. On December 9, Smith sold 26,138 shares of common stock at an average price of $24.9945, totaling approximately $653,306.
In addition to the sale, Smith also exercised stock options, acquiring a total of 26,138 shares at prices ranging from $11.41 to $13.64. These transactions resulted in a total value of $327,305 for the acquired shares. Following these transactions, Smith's direct ownership in Mueller Water Products stands at 9,378.27 shares.
This activity was disclosed in a Form 4 filing with the Securities and Exchange Commission, providing investors with insights into the executive's recent trading actions. For comprehensive insider trading analysis and additional insights, including 13 more key ProTips about Mueller Water Products, visit InvestingPro.
In other recent news, Mueller Water Products reported robust financial performance, with record earnings for fiscal year 2024. The company's fourth-quarter net sales rose to $348.2 million, marking a 15.5% increase year-over-year. Full-year consolidated net sales surpassed the $1.3 billion mark, driven by strong demand and improved customer service. Adjusted net income per share reached an all-time high of $0.96, up 52% from the previous year.
In addition, TD Cowen raised the price target for Mueller Water Products to $23.00, up from $20.00, while maintaining a Hold rating on the stock. This adjustment reflects the sector's multiples, according to the analysis by TD Cowen. Despite this, the firm's EBITDA estimate for fiscal year 2025 is slightly lower than the previous model due to a lower initial growth guide provided by the company.
The company's fiscal 2025 projections include consolidated net sales between $1.34 billion and $1.36 billion, and adjusted EBITDA between $300 million and $305 million. These recent developments suggest potential future financial improvements for Mueller Water Products.
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