Mueller Water Products, Inc. (NYSE:MWA) Shares Bought by Quest Partners LLC

Quest Partners LLC increased its position in Mueller Water Products, Inc. (NYSE:MWA - Free Report) by 189.4% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 114,811 shares of the industrial products company's stock after buying an additional 75,144 shares during the quarter. Quest Partners LLC owned 0.07% of Mueller Water Products worth $2,491,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also bought and sold shares of MWA. V Square Quantitative Management LLC purchased a new position in shares of Mueller Water Products in the third quarter worth $26,000. Allspring Global Investments Holdings LLC purchased a new position in shares of Mueller Water Products in the second quarter valued at about $72,000. National Bank of Canada FI increased its position in shares of Mueller Water Products by 44.2% in the second quarter. National Bank of Canada FI now owns 4,757 shares of the industrial products company's stock valued at $83,000 after acquiring an additional 1,457 shares during the period. Quarry LP raised its stake in shares of Mueller Water Products by 341.0% during the second quarter. Quarry LP now owns 5,632 shares of the industrial products company's stock valued at $101,000 after acquiring an additional 4,355 shares during the last quarter. Finally, Blue Trust Inc. boosted its holdings in shares of Mueller Water Products by 434.6% during the third quarter. Blue Trust Inc. now owns 4,892 shares of the industrial products company's stock worth $106,000 after purchasing an additional 3,977 shares during the period. Hedge funds and other institutional investors own 91.68% of the company's stock.

Mueller Water Products Price Performance

Shares of NYSE:MWA traded up $0.11 on Monday, reaching $24.42. The company's stock had a trading volume of 998,843 shares, compared to its average volume of 1,253,838. The company has a 50-day simple moving average of $22.09 and a 200 day simple moving average of $20.15. The company has a debt-to-equity ratio of 0.57, a quick ratio of 2.31 and a current ratio of 3.70. The company has a market cap of $3.80 billion, a P/E ratio of 33.37, a PEG ratio of 1.38 and a beta of 1.34. Mueller Water Products, Inc. has a 52-week low of $13.08 and a 52-week high of $26.28.

Mueller Water Products (NYSE:MWA - Get Free Report) last posted its quarterly earnings data on Wednesday, November 6th. The industrial products company reported $0.22 earnings per share for the quarter, meeting analysts' consensus estimates of $0.22. Mueller Water Products had a net margin of 8.82% and a return on equity of 19.71%. The business had revenue of $348.20 million for the quarter, compared to analysts' expectations of $324.80 million. During the same quarter in the previous year, the business posted $0.19 earnings per share. The business's revenue was up 15.5% compared to the same quarter last year. As a group, equities research analysts anticipate that Mueller Water Products, Inc. will post 1.17 EPS for the current fiscal year.

Mueller Water Products Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 20th. Investors of record on Friday, November 8th will be issued a $0.067 dividend. This is a positive change from Mueller Water Products's previous quarterly dividend of $0.06. The ex-dividend date of this dividend is Friday, November 8th. This represents a $0.27 dividend on an annualized basis and a dividend yield of 1.10%. Mueller Water Products's payout ratio is presently 36.99%.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on MWA shares. Royal Bank of Canada lifted their price target on shares of Mueller Water Products from $20.00 to $23.00 and gave the company a "sector perform" rating in a report on Wednesday, August 7th. Oppenheimer reissued an "outperform" rating and issued a $27.00 price target (up from $26.00) on shares of Mueller Water Products in a research note on Friday, November 8th. TD Cowen cut Mueller Water Products from a "buy" rating to a "hold" rating and lifted their price objective for the company from $19.00 to $20.00 in a research report on Friday, August 9th. Finally, StockNews.com lowered Mueller Water Products from a "strong-buy" rating to a "buy" rating in a research report on Wednesday, October 30th. Five research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $22.20.

Mueller Water Products Company 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.