Bank of New York Mellon Corp Sells 180,930 Shares of Mueller Water Products, Inc. (NYSE:MWA)

Bank of New York Mellon Corp trimmed its holdings in Mueller Water Products, Inc. (NYSE:MWA - Free Report) by 19.5% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 746,449 shares of the industrial products company's stock after selling 180,930 shares during the quarter. Bank of New York Mellon Corp owned about 0.48% of Mueller Water Products worth $16,795,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the business. Y Intercept Hong Kong Ltd raised its holdings in shares of Mueller Water Products by 108.9% in the fourth quarter. Y Intercept Hong Kong Ltd now owns 53,226 shares of the industrial products company's stock valued at $1,198,000 after buying an additional 27,751 shares during the last quarter. Union Bancaire Privee UBP SA bought a new position in shares of Mueller Water Products in the fourth quarter valued at about $1,573,000. Allianz Asset Management GmbH raised its holdings in shares of Mueller Water Products by 67.5% in the fourth quarter. Allianz Asset Management GmbH now owns 1,644,603 shares of the industrial products company's stock valued at $37,004,000 after buying an additional 662,637 shares during the last quarter. Alberta Investment Management Corp raised its holdings in shares of Mueller Water Products by 12.4% in the fourth quarter. Alberta Investment Management Corp now owns 199,716 shares of the industrial products company's stock valued at $4,494,000 after buying an additional 22,045 shares during the last quarter. Finally, Convergence Investment Partners LLC raised its holdings in Mueller Water Products by 44.9% during the 4th quarter. Convergence Investment Partners LLC now owns 64,556 shares of the industrial products company's stock worth $1,453,000 after purchasing an additional 20,016 shares during the last quarter. 91.68% of the stock is owned by institutional investors.

Mueller Water Products Price Performance

Mueller Water Products stock opened at $26.58 on Wednesday. The firm has a market capitalization of $4.16 billion, a P/E ratio of 30.90, a PEG ratio of 1.43 and a beta of 1.39. Mueller Water Products, Inc. has a 1 year low of $14.81 and a 1 year high of $28.25. The business has a 50-day moving average of $24.45 and a 200-day moving average of $23.31. The company has a current ratio of 3.83, a quick ratio of 2.38 and a debt-to-equity ratio of 0.54.

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Mueller Water Products (NYSE:MWA - Get Free Report) last posted its earnings results on Tuesday, February 4th. The industrial products company reported $0.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.19 by $0.06. Mueller Water Products had a return on equity of 21.18% and a net margin of 10.05%. During the same quarter last year, the company posted $0.13 earnings per share. On average, equities analysts anticipate that Mueller Water Products, Inc. will post 1.24 EPS for the current year.

Mueller Water Products Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, February 21st. Stockholders of record on Monday, February 10th were given a dividend of $0.067 per share. The ex-dividend date was Monday, February 10th. This represents a $0.27 annualized dividend and a dividend yield of 1.01%. Mueller Water Products's payout ratio is currently 30.23%.

Insider Transactions at Mueller Water Products

In related news, Director Lydia W. Thomas sold 17,092 shares of the business's stock in a transaction that occurred on Tuesday, March 11th. The stock was sold at an average price of $26.77, for a total value of $457,552.84. Following the completion of the transaction, the director now directly owns 126,689 shares in the company, valued at approximately $3,391,464.53. The trade was a 11.89 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Brian Slobodow sold 11,132 shares of the business's stock in a transaction that occurred on Tuesday, March 4th. The shares were sold at an average price of $24.73, for a total value of $275,294.36. Following the completion of the transaction, the director now owns 7,376 shares of the company's stock, valued at $182,408.48. This represents a 60.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.10% of the company's stock.

Analyst Upgrades and Downgrades

MWA has been the subject of several recent research reports. The Goldman Sachs Group boosted their price objective on Mueller Water Products from $26.00 to $29.00 and gave the stock a "neutral" rating in a report on Thursday, February 6th. Royal Bank of Canada boosted their price objective on Mueller Water Products from $25.00 to $29.00 and gave the stock a "sector perform" rating in a report on Thursday, February 6th. Five research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. According to data from MarketBeat, Mueller Water Products has a consensus rating of "Hold" and an average target price of $25.80.

Mueller Water Products Profile

Mueller Water Products, Inc manufactures and markets products and services for the transmission, distribution, and measurement of water used by municipalities, and the residential and non-residential construction industries in the United States, Israel, and internationally. It operates in two segments, Water Flow Solutions and Water Management Solutions.

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