ATLANTA – Mueller Water Products, Inc. announced (NYSE:), a prominent player in the North American water infrastructure industry, announced its quarterly dividend announcement. Shareholders of record by February 10, 2025, will be eligible for a dividend of $0.067 per share, scheduled to be distributed on or about February 21, 2025. InvestingPro According to the data, the company has maintained its dividend for 19 consecutive years, with a current annual dividend yield of 1.14%.
This step reflects the company's continued 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 major manufacturer and marketer of essential products for water transmission, distribution and metering. The company's broad portfolio includes engineering valves, fire hydrants, pipe connection and repair products, measurement products, and advanced solutions for leak detection and pipe condition assessment. Additionally, they offer pressure management products and software that provide vital data to water systems. InvestingPro The analysis indicates that the company maintains strong financial health with a current ratio of 3.33, which indicates strong liquidity.
Mueller Water Products is known for helping municipalities enhance operational efficiency, improve customer service, and strategically allocate capital expenditures. 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 tips on Mueller Water product performance metrics in Pro Research's comprehensive report, available exclusively at 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 has independent responsibility for its own business activities and obligations.
This dividend announcement is based on a press release issued by Mueller Water Products. The information provided to shareholders and potential investors provides insight into a company's financial distributions without indicating any broader industry trends or implications.
In other recent news, Mueller Water Products reported record earnings for fiscal 2024, with fourth-quarter net sales rising to $348.2 million, an increase of 15.5% year over year. For the full year, the company's consolidated net sales exceeded $1.3 billion, driven by strong 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 increased significantly by 30.9% to $72.5 million.
Mueller Water Products also announced changes to the employment agreement for its CEO, Marita Edmunds-Zakas, where some severance benefits were modified. Zachas will maintain her current compensation structure, including an annual base salary of at least $900,000, a target annual bonus of at least 110% of her base salary, and a targeted long-term annual bonus opportunity of at least 333% of her base salary. Basic salary.
TD Cowen raised their price target on shares of Mueller Water Products to $23.00, up from the previous $20.00, while maintaining a Hold rating on the stock. This adjustment reflects sector multiples, according to TDCoin analysis. Despite the positive price target revision, the company's FY2025 EBITDA estimate for Mueller Water Products is slightly lower compared to the previous model due to lower-than-expected preliminary growth evidence provided by the company.
On the other hand, 3M (NYSE:) reported an 18% increase in non-GAAP EPS and 1% organic growth in revenue in the third quarter, prompting an upward revision to its full-year EPS guidance. However, 3M faces significant challenges, including a $3.6 billion legal settlement paid during the quarter and unresolved liabilities related to perfluoroacryl and polyfluoroalkyl substances (PFAS). Despite these potential headwinds, 3M maintains a positive outlook through strategies focused on organic growth and strategic divestments.
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