Brian C. Healy, a director at Mueller Water Products, Inc. (NYSE:MWA), has made a notable purchase of the company's stock. On January 6, Healy acquired 1,115 shares of Mueller Water's common stock. The shares were bought at an average price of $22.323, resulting in a total transaction value of approximately $24,890. The purchase comes as Mueller Water Products, with a market capitalization of $3.43 billion, has demonstrated strong performance with a 64.41% return over the past year. According to InvestingPro analysis, the company currently appears fairly valued based on its Fair Value assessment.
This transaction was conducted under a Rule 10b5-1 trading plan, which Healy adopted in May 2024, allowing for pre-scheduled trades. Following this purchase, Healy now directly owns 6,140 shares of Mueller Water Products. The company has maintained dividend payments for 19 consecutive years and currently operates with a moderate debt level. For deeper insights into Mueller Water Products' financial health and growth prospects, including 12 additional ProTips, check out the comprehensive Pro Research Report available on InvestingPro.
In other recent news, Mueller Water Products, Inc. reported record earnings for the fiscal year 2024. The company's fourth-quarter net sales rose to $348.2 million, marking a 15.5% increase year-over-year. Adjusted net income per share reached a record high of $0.96, up 52% from the previous year. However, the company reported a $16.3 million non-cash goodwill impairment and increased warranty expenses. Despite these challenges, 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.
In other recent developments, 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 comes as a reflection of the sector's multiples, according to TD Cowen's analysis.
Furthermore, Mueller Water Products announced changes to the employment agreement of its CEO, Marietta Edmunds Zakas, according to the latest 8-K filing with the SEC. The adjustments, effective December 9, 2024, modify certain severance benefits and follow the company's previous agreement from August 21, 2023.
Lastly, RBC Capital Markets highlighted several companies, including Mueller Water Products, with significant developments in 2024. The company saw its stock rise by 72% year-to-date after smoothly ramping up its new brass foundry and meeting high service brass demand.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.