Allspring Global Investments Holdings LLC Purchases 216,430 Shares of Mueller Water Products, Inc. (NYSE:MWA)

Allspring Global Investments Holdings LLC boosted its holdings in shares of Mueller Water Products, Inc. (NYSE:MWA - Free Report) by 5,387.9% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 220,447 shares of the industrial products company's stock after purchasing an additional 216,430 shares during the period. Allspring Global Investments Holdings LLC owned approximately 0.14% of Mueller Water Products worth $4,784,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the business. Diversified Trust Co lifted its position in shares of Mueller Water Products by 3.1% in the 3rd quarter. Diversified Trust Co now owns 19,936 shares of the industrial products company's stock valued at $433,000 after acquiring an additional 607 shares in the last quarter. Arizona State Retirement System increased its stake in Mueller Water Products by 1.9% in the 2nd quarter. Arizona State Retirement System now owns 43,722 shares of the industrial products company's stock valued at $783,000 after buying an additional 819 shares during the period. V Square Quantitative Management LLC acquired a new position in Mueller Water Products in the 3rd quarter valued at approximately $26,000. Creative Planning increased its stake in Mueller Water Products by 6.3% in the 3rd quarter. Creative Planning now owns 23,767 shares of the industrial products company's stock valued at $516,000 after buying an additional 1,405 shares during the period. Finally, National Bank of Canada FI increased its stake in shares of Mueller Water Products by 44.2% during the 2nd quarter. National Bank of Canada FI now owns 4,757 shares of the industrial products company's stock worth $83,000 after purchasing an additional 1,457 shares during the last quarter. 91.68% of the stock is owned by institutional investors and hedge funds.

Mueller Water Products Price Performance

Shares of Mueller Water Products stock traded down $0.05 during trading on Tuesday, hitting $21.83. 2,067,319 shares of the company's stock traded hands, compared to its average volume of 1,248,698. The company has a debt-to-equity ratio of 0.57, a current ratio of 3.70 and a quick ratio of 2.31. The firm's fifty day moving average price is $21.26 and its 200 day moving average price is $19.38. Mueller Water Products, Inc. has a twelve month low of $12.13 and a twelve month high of $23.12. The company has a market cap of $3.40 billion, a PE ratio of 27.85, a PEG ratio of 1.37 and a beta of 1.34.

Mueller Water Products (NYSE:MWA - Get Free Report) last issued its earnings results on Monday, August 5th. The industrial products company reported $0.32 earnings per share for the quarter, beating the consensus estimate of $0.22 by $0.10. Mueller Water Products had a net margin of 9.71% and a return on equity of 19.46%. The business had revenue of $356.70 million for the quarter, compared to analyst estimates of $329.67 million. During the same period in the previous year, the business earned $0.18 EPS. The firm's revenue was up 9.2% on a year-over-year basis. Analysts forecast that Mueller Water Products, Inc. will post 0.93 earnings per share for the current year.

Mueller Water Products Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 20th. Shareholders of record on Friday, November 8th will be given a $0.067 dividend. The ex-dividend date is Friday, November 8th. This is a positive change from Mueller Water Products's previous quarterly dividend of $0.06. This represents a $0.27 dividend on an annualized basis and a yield of 1.23%. Mueller Water Products's payout ratio is 33.33%.

Analysts Set New Price Targets

A number of research firms have recently weighed in on MWA. StockNews.com upgraded shares of Mueller Water Products from a "buy" rating to a "strong-buy" rating in a report on Tuesday, October 22nd. TD Cowen downgraded shares of Mueller Water Products from a "buy" rating to a "hold" rating and lifted their target price for the stock from $19.00 to $20.00 in a report on Friday, August 9th. Royal Bank of Canada lifted their target price on shares of Mueller Water Products from $20.00 to $23.00 and gave the stock a "sector perform" rating in a report on Wednesday, August 7th. Finally, Oppenheimer raised their price target on shares of Mueller Water Products from $22.00 to $24.00 and gave the stock an "outperform" rating in a research report on Wednesday, August 7th. Five research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Mueller Water Products has an average rating of "Hold" and an average target price of $21.60.

Insider Buying and Selling at Mueller Water Products

In other Mueller Water Products news, Director Thomas J. Hansen sold 10,791 shares of the business's stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $20.55, for a total value of $221,755.05. Following the completion of the transaction, the director now directly owns 102,792 shares of the company's stock, valued at approximately $2,112,375.60. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Mueller Water Products news, insider J Scott Hall sold 135,253 shares of the business's stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $20.34, for a total value of $2,751,046.02. Following the completion of the transaction, the insider now directly owns 544,029 shares of the company's stock, valued at approximately $11,065,549.86. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Thomas J. Hansen sold 10,791 shares of the business's stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $20.55, for a total transaction of $221,755.05. Following the sale, the director now directly owns 102,792 shares of the company's stock, valued at approximately $2,112,375.60. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 256,869 shares of company stock worth $5,141,842 over the last ninety days. Corporate insiders own 1.40% of the company's stock.

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.