Madison Investment Advisors LLC bought a new stake in Mueller Water Products, Inc. (NYSE:MWA - Free Report) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 102,090 shares of the industrial products company's stock, valued at approximately $2,297,000. Madison Investment Advisors LLC owned about 0.07% of Mueller Water Products as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Franklin Resources Inc. raised its holdings in Mueller Water Products by 10.1% in the 3rd quarter. Franklin Resources Inc. now owns 8,618,782 shares of the industrial products company's stock valued at $197,456,000 after acquiring an additional 791,569 shares during the last quarter. State Street Corp grew its position in shares of Mueller Water Products by 0.3% in the third quarter. State Street Corp now owns 3,931,662 shares of the industrial products company's stock valued at $85,317,000 after purchasing an additional 12,438 shares in the last quarter. Geode Capital Management LLC grew its position in shares of Mueller Water Products by 2.1% in the third quarter. Geode Capital Management LLC now owns 3,538,901 shares of the industrial products company's stock valued at $76,809,000 after purchasing an additional 73,069 shares in the last quarter. Principal Financial Group Inc. increased its holdings in shares of Mueller Water Products by 2,962.3% in the fourth quarter. Principal Financial Group Inc. now owns 3,015,009 shares of the industrial products company's stock valued at $67,838,000 after purchasing an additional 2,916,552 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in Mueller Water Products by 0.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,952,282 shares of the industrial products company's stock worth $43,926,000 after buying an additional 7,567 shares in the last quarter. 91.68% of the stock is owned by hedge funds and other institutional investors.
Insider Buying and Selling
In other Mueller Water Products news, Director Lydia W. Thomas sold 17,092 shares of the company's stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $26.77, for a total transaction of $457,552.84. Following the sale, the director now owns 126,689 shares in the company, valued at $3,391,464.53. This represents a 11.89 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Brian Slobodow sold 11,132 shares of the stock in a transaction dated 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 sale, the director now directly owns 7,376 shares in the company, valued at $182,408.48. This represents a 60.15 % decrease in their position. The disclosure for this sale can be found here. 1.10% of the stock is owned by insiders.
Mueller Water Products Trading Up 0.2 %
Shares of Mueller Water Products stock traded up $0.05 during trading hours on Wednesday, hitting $26.65. The company's stock had a trading volume of 3,002,006 shares, compared to its average volume of 1,444,038. The stock has a market cap of $4.17 billion, a price-to-earnings ratio of 30.99, a P/E/G ratio of 1.43 and a beta of 1.39. The company has a debt-to-equity ratio of 0.54, a quick ratio of 2.38 and a current ratio of 3.83. Mueller Water Products, Inc. has a twelve month low of $14.81 and a twelve month high of $28.58. The firm has a fifty day moving average of $25.47 and a 200-day moving average of $23.78.
Mueller Water Products (NYSE:MWA - Get Free Report) last released its quarterly earnings results on Tuesday, February 4th. The industrial products company reported $0.25 EPS for the quarter, topping analysts' consensus estimates 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 in the previous year, the business earned $0.13 EPS. Research analysts forecast that Mueller Water Products, Inc. will post 1.24 EPS for the current year.
Mueller Water Products Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 21st. Investors of record on Monday, February 10th were issued a $0.067 dividend. This represents a $0.27 dividend on an annualized basis and a dividend yield of 1.01%. The ex-dividend date of this dividend was Monday, February 10th. Mueller Water Products's dividend payout ratio (DPR) is currently 30.23%.
Wall Street Analysts Forecast Growth
Several analysts have issued reports on MWA shares. The Goldman Sachs Group upped their target price on Mueller Water Products from $26.00 to $29.00 and gave the company a "neutral" rating in a report on Thursday, February 6th. Royal Bank of Canada upped their price objective on shares of Mueller Water Products from $25.00 to $29.00 and gave the company a "sector perform" rating in a report on Thursday, February 6th. Five investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, Mueller Water Products currently has an average rating of "Hold" and an average target price of $25.80.
Check Out Our Latest Analysis on MWA
About Mueller Water Products
(
Free Report)
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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