Great long term hold but MWA is spendy now and there will be some profit taking.
I see MWA pulling back to a resistance level of about 6.05. Its curently at 25 times earnings whichis high. Long term holders though will be rewarded with another 30-40% return in the next 18 months. Maybe 8 to 9.50 a share.
I have been in MWA for a time now, and am up 150% I sold a portion of my position at 6.00, but can't beat myself up because its currently my biggest % gainer. I plan to hold the rest because I feel the fundementals are very good for the future.
I'm a long term hold...bought in @ 4.16 the watched it immediately storm into the $3's...sigh, I have that effect on stocks. As of right now however, I'm sitting on a 74% increase! Nothing to sneeze at but honesty compels me to say that I've held this for almost two and a half years...so maybe not so great but still rather good. Wish I had this performance out of every stock I owned.
Given the housing recovery and the advent of yet another municipal construction season, I am anticipating a further rise of nearly 50% across the next year. I'm putting MWA at $10+.
I wouldn't mind if MWA would increase their dividend a bit to an acceptable percentage...come on guys, time to grow up.
I don't think they should increase their dividend . They still need to pay of their debt and they are barely into profit. I got it MWA at 2-3.00 a share. I agree we should see ten dollars a share in 2 years or less.