Renaissance Technologies LLC Purchases 12,900 Shares of Mueller Water Products, Inc. (NYSE:MWA)

Renaissance Technologies LLC increased its holdings in shares of Mueller Water Products, Inc. (NYSE:MWA - Free Report) by 3.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 389,800 shares of the industrial products company's stock after purchasing an additional 12,900 shares during the period. Renaissance Technologies LLC owned approximately 0.25% of Mueller Water Products worth $8,770,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the business. Millstone Evans Group LLC bought a new position in Mueller Water Products in the fourth quarter valued at $63,000. R Squared Ltd acquired a new stake in shares of Mueller Water Products during the 4th quarter worth about $100,000. Blue Trust Inc. boosted its holdings in shares of Mueller Water Products by 14.8% during the fourth quarter. Blue Trust Inc. now owns 5,618 shares of the industrial products company's stock worth $126,000 after acquiring an additional 726 shares during the period. Thurston Springer Miller Herd & Titak Inc. bought a new stake in Mueller Water Products in the 4th quarter valued at $146,000. Finally, Assetmark Inc. bought a new stake in shares of Mueller Water Products in the fourth quarter valued at about $192,000. 91.68% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Mueller Water Products news, Director Brian Slobodow sold 11,132 shares of the stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $24.73, for a total transaction of $275,294.36. Following the completion of the sale, the director now directly owns 7,376 shares in the company, valued at approximately $182,408.48. This trade represents a 60.15 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Lydia W. Thomas sold 17,092 shares of Mueller Water Products stock in a transaction dated 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 of the company's stock, valued at approximately $3,391,464.53. This trade represents a 11.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.10% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the stock. StockNews.com cut shares of Mueller Water Products from a "buy" rating to a "hold" rating in a report on Thursday, April 3rd. The Goldman Sachs Group lifted their price objective on Mueller Water Products from $26.00 to $29.00 and gave the company a "neutral" rating in a report on Thursday, February 6th. Finally, Royal Bank of Canada increased their target price 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. Six investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $25.80.

Mueller Water Products Price Performance

Shares of MWA traded up $1.18 during trading hours on Wednesday, reaching $26.33. The stock had a trading volume of 185,745 shares, compared to its average volume of 1,574,272. The company's 50-day moving average is $25.64 and its two-hundred day moving average is $24.34. Mueller Water Products, Inc. has a 12 month low of $15.76 and a 12 month high of $28.58. The stock has a market capitalization of $4.12 billion, a PE ratio of 30.62, a PEG ratio of 1.43 and a beta of 1.26. 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 (NYSE:MWA - Get Free Report) last issued 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 net margin of 10.05% and a return on equity of 21.18%. During the same quarter last year, the firm earned $0.13 EPS. Research analysts expect that Mueller Water Products, Inc. will post 1.24 EPS for the current year.

Mueller Water Products Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, February 21st. Shareholders of record on Monday, February 10th were issued a dividend of $0.067 per share. The ex-dividend date was Monday, February 10th. This represents a $0.27 annualized dividend and a yield of 1.02%. Mueller Water Products's payout ratio is 30.23%.

About Mueller Water Products

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.