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BMI - Mueller Water Looks Like A Good Medium Term Bet
Badger Meter Inc.
Mueller Water (MWA) recently reported strong Q1 results with net sales growth of 10.3% y-o-y and organic sales growth of 3.1% y-o-y. The company’s gross margins also improved 290 bps over the prior year helped by higher pricing, better product mix and benefit from Krausz acquisition, which more than offset the impact of tariff and inflation.
I last covered Mueller two years ago. I was bearish on the company as I found it to be a bit overvalued and visibility on future growth and execution weren’t high. The stock has under performed S&P