Stock Alert: Mueller Water Products Inc. (MWA) Shares Hit 52-Week High

(RTTNews) - Shares of Mueller Water Products Inc. (MWA) reached a 52-week high of $12.56 today, after the company reported a turnaround to profit for the December quarter.

The company on Feb. 4, reported Q1 net income of $10.3 million or $0.06 per share compared to a loss of $21.0 million or $0.13 per share last year.

Net sales for the quarter increased 10.3% to $212.6 million from $192.8 million generated a year ago.

Scott Hall, President and Chief Executive Officer of Mueller Water Products, said, "For fiscal 2020, we expect to see continued favorable demand in our end markets driven by healthy municipal spending and improved residential construction..."

The company now sees fiscal 2020 consolidated net sales growth at the high end of the 3% - 5% range previously provided, driven by higher pricing, increased shipment volumes and the contribution from Krausz in the first quarter.