What happened Mueller Water Products (NYSE: MWA) ended its fiscal 2021 with a whimper, and investors were not pleased. CEO Scott Hall called the results "a disappointing end to a strong year," noting that the company faced obstacles including "significant raw material and other cost inflation, supply chain disruptions, and labor availability challenges." On Tuesday morning, Boenning & Scattergood analyst Ryan Connors cut Mueller to neutral from outperform, calling its underperformance "somewhat disconcerting" given that rivals are thriving due to strong demand.